Carbon market bumps up after auction

Climate change minister James Shaw is now contemplating what changes, if any, should be made to carbon market rules. (Image: BusinessDesk)

Ian Llewellyn

Thu, 17 Mar 2022

Carbon prices on the secondary market rose after Wednesday's auction of New Zealand Units (NZUs) with traders now wondering what the future will bring.The first auction of 2022 resulted in a clearing price of $70, which was below the most recent secondary market price of about $72.Bidders bought the usual primary volume of 4.825 million NZUs (an NZU is a proxy for one tonne of carbon) and almost all the annual cost containment reserve of 7m tonnes, leaving just over 1.3m tonnes of this on offer for remaining auctions in the year.After the a...

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