Carbon prices drop at last auction of year

Carbon traders are waiting to hear from climate change minister James Shaw on decisions on ETS settings. (Image: NZME)

Wed, 07 Dec 2022

The final carbon auction for the year cleared at $79, just below the secondary market price earlier this week and the first time they have dropped in price from the previous auction.All 4,825,000 New Zealand Units (NZUs) on offer were sold, raising $381 million for the government.NZUs, the equivalent of a tonne of carbon, were trading at a record $88.50 at one point in November, but slipped back to about $80 in recent days on the major secondary markets.Early data from the auction operator said there were 23 participants who made 213 bids, with...

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