Last carbon auction of year fails to clear

Last carbon auction of year fails to clear
Finance minister Nicola Willis has less money to work with. (Image: NZME)
Ian Llewellyn
The fourth carbon auction of the year has failed to clear.This means the government has forgone what could have been $900 million in revenue. However, all the New Zealand Units (NZUs, a proxy for one tonne of carbon) that were on offer this year are now written off.This will tighten supply and set the stage for an increased carbon price next year.Those running the auction said: “The December 2023 auction has been declined because the clearing price did not meet the minimum price settings. As a result, there are no winning bids.”Befo...

More Policy

E-bike subsidy fell by the wayside
Policy

E-bike subsidy fell by the wayside

Former transport minister considered a $100m subsidy scheme for Budget 2022.

Oliver Lewis 04 Mar 2024
Waimea Dam dispute could end up like North Otago scheme, crown funder says
Primary Sector

Waimea Dam dispute could end up like North Otago scheme, crown funder says

It's hoped the adjudication process will be wrapped up by June.

Riley Kennedy 01 Mar 2024
ComCom says Free Trade Act too lenient
Policy

ComCom says Free Trade Act too lenient

ComCom chair John Small told MPs the Fair Trading Act passed in 1986 was outdated.

Jem Traylen 01 Mar 2024
Budget overruns or schools overrun?
Policy Business of Education

Cameron Bagrie: Budget overruns or schools overrun?

The new pandemic is inflation, and it's killing school projects we need.

Cameron Bagrie 01 Mar 2024