Carbon prices plunge after auction

Carbon prices plunge after auction
Future forestry policy is one of the uncertainties hanging over carbon prices. (Image: NZME)
Ian Llewellyn
Carbon prices plunged after the first auction of New Zealand Units partially cleared on Wednesday.Four consecutive auctions failed in 2023, but the first of 2024 resulted in 2,974,300 NZ Units being sold of the 3,525,000 on offer.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 sold at $64, raising just over $190 million for the government’s coffers.The clearing price was at the same as the floor price, so under the auction rules...

More Markets

Anna Scott joining Mercer
Markets

Anna Scott joining Mercer

Former Smart boss will replace current Mercer chief executive Martin Lewington.

Solar still on the rise, Ecotricity says
Markets

Solar still on the rise, Ecotricity says

Commercial solar generation is up almost 300%.

Expectations of rate cuts boost NZ sharemarket in light trade
Markets Market close

Expectations of rate cuts boost NZ sharemarket in light trade

There were 89 rises and 48 falls on the main board.

Jamie Gray 02 Jul 2025
Smart CEO Anna Scott resigns
Markets

Smart CEO Anna Scott resigns

Anna Scott will take up her new role on October 1.

Staff reporters 02 Jul 2025