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Policy

Carbon pricing veers close to trigger point

Ian Llewellyn
Wed, 14 Jul 2021

Climate change minister James Shaw says no decisions have been made on whether to lift carbon price ceilings. (Image: BusinessDesk)
Ian Llewellyn
Wed, 14 Jul 2021
New Zealand carbon prices hit a record high this week, but market operators don't think the government will lift the price ceiling this year.New Zealand Units (NZUs) moved above $48 this week for the first time on secondary market platforms in what is described as a sellers’ market.This is very close to the $50 mark, which if bid at the next NZU auction, would trigger the release of more units.The government planned on selling 20 million NZUs over this year in four auctions. If the ceiling price is reached this would release the cost...

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