New rules quash carbon auction collusion

Tue, 09 Feb 2021

A law intended to prevent collusion in the government's first carbon auction was passed by Parliament last night.The Climate Change Response (Auction Price) Amendment Bill sets up a confidential reserve price for the upcoming NZ Units auction due to concerns it could be dominated by lowball bids.The fear is some buyers could make windfall gains buying up NZUs at well below secondary market prices. This would drive down carbon prices, disrupt markets and have some parties profiteering at the expense of Crown income.The bill passed through al...

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