Third carbon auction this year set to fail

What a new government may do with climate change policy is one uncertainty hanging over this week's carbon auction. (Image: Getty)

Ian Llewellyn

Tue, 05 Sep 2023

This week’s carbon auction is widely expected to fail to clear due to the sheer volume of units on offer.The first two auctions of the year did not attract enough bids in terms of price or volume, and that means 8.95 million New Zealand Units (NZUs, a proxy for a tonne of carbon) carried over into the third auction on Sept 6.These add to the 4.475m being offered at the third auction of the year.The confidential reserve price will be set near the current secondary market price of about $70 on Monday afternoon.This means with 13.425m units,...

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