NZ carbon prices could double in five years

James Shaw approves changes to ETS settings (Image: BusinessDesk).

Tue, 24 Aug 2021

The government has outlined a change to emissions trading scheme (ETS) rules that will allow the carbon price ceiling to double from $51 a tonne to $110.15 by 2026.If this was to happen, it would increase the price of things such as petrol. The government hopes this will help increase the uptake of electric vehicles and also encourage industry to switch away from coal and gas.New Zealand units (NZU) on the ETS are currently trading on the spot market at about $50, just above the effective lid on carbon prices.This is due to the auction system f...

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