Carbon prices press higher ahead of auction

Carbon emissions are getting more expensive. (Image: Getty)

Tue, 06 Sep 2022

The third carbon auction of the year takes place on Wednesday with New Zealand Unit (NZU) prices running at record highs on the secondary market and suggestions they could go higher.There are 4.82 million NZUs on offer with the 7 million NZU cost containment reserve for the year swallowed up in the first two auctions.NZUs, which are the equivalent of one tonne of carbon emissions, have been trading above the $87 mark this week.This makes up all the ground lost after carbon prices slumped following Russia’s invasion of Ukraine. Then the lo...

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