Carbon prices low ahead of auction

The coming retirement of commission chair Rod Carr is a factor hanging over this week's carbon auction. (Image: NZME)

Tue, 18 Jun 2024

The second carbon auction of the year could partially clear with the current secondary market price well below the auction floor.It could also fail entirely if no one is interested in buying units at a higher price than the going rate eleswhere.About 4,075,700 New Zealand Units are on offer at the June auction.An NZ Unit (NZU) is a proxy under the emissions trading scheme (ETS) for one tonne of carbon, which emitters must surrender to settle their emissions.The units on offer include 550,700 unsold at the March auction that partially cleared.Th...

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