Goldilocks carbon auction: Not too high and not too low

Traders play it safe in the latest carbon auction. (Image: Depositphotos)

Wed, 16 Mar 2022

The first carbon auction of 2022 cleared at $70 a tonne, the price which triggered the release of New Zealand Units (NZUs) from the cost containment reserve.While the reserve fund of NZUs was opened, not all were taken up. In all, 4.8 million NZUs (equivalent to a tonne of carbon) were on offer with another 7m in the cost containment reserve.Of the 11.8m on offer, once the reserve price was triggered, 10.5m were bought, earning the government $735m.The market regulator said there were 30 successful bidders, with 32 parties making 477 bids seeki...

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