Carbon volatility makes tomorrow's auction hard to pick
15 Mar 2022
LAST month, tomorrow's ETS auction seemed a foregone conclusion. The price of NZUs had hit an all time high of $86.25 and with a price containment reserve of just $70, the reserve's 7 million additional NZUs seemed certain to be snapped up.
Now all bets are off. With the NZU price hovering just above the $70 mark on the spot market it's anyone's guess where the price will settle at tomorrow's auction.
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Carbon price nosedives
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The carbon price graph dropped off a cliff yesterday, down 6% overnight to a ten-month low amidst continued selling from forest owners.
ETS surplus volume likely to be reducing too slowly - new analysis
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Excess carbon units in the Emissions Trading Scheme - the ‘surplus’ in privately held accounts - look to be reducing more slowly than the Climate Change Commission's targeted annual reductions, according to new analysis.
ETS stockpile up nearly 7 million
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The stockpile of privately held Emissions Trading Scheme pollution permits increased 6.7 million to 157.1 million units in the three months to March 31, according to figures released by the Environmental Protection Authority yesterday.
