Third carbon auction this year fails to clear

Third carbon auction this year fails to clear
Climate change minister James Shaw may have mixed feelings over the third carbon auction this year failing. (Image: NZME)
Ian Llewellyn
The third carbon auction of the year has failed, setting up the likelihood that all auctions this year will not clear.This will cause a loss of revenue to the government but also means that all New Zealand Units (NZUs, a proxy for a tonne of carbon) on offer this year will be cancelled, reducing the supply.In a brief note, those running the auction said it had “been declined because the clearing price did not meet the minimum price settings". "As a result, there are no winning bids.”Below the confidential reserve pric...

More Policy

LNG imports: Watts open-minded on scale
Policy

LNG imports: Watts open-minded on scale

Energy sector analysts fear a "small, cheap" option will push up the LNG price NZ pays.

Pattrick Smellie 09 Oct 2025
Adrian Orr launches new company as restraint of trade lifts
Economy

Adrian Orr launches new company as restraint of trade lifts

It’s been six months since his exit from the central bank.

Denise McNabb 07 Oct 2025
Auckland’s Milldale housing project approved
Policy

Auckland’s Milldale housing project approved

The project is the third approved since applications opened in February.

Michael Neilson 03 Oct 2025
Govt outlines strategy to deliver Defence Capability Plan
Economy

Govt outlines strategy to deliver Defence Capability Plan

The economy and NZ industry would be beneficiaries.

Staff reporters 03 Oct 2025