Mighty River contests paying for carbon units
1 Dec 2014
MightyRiverPower has claimed in the High Court that it shouldn’t have to pay for carbon units issued for years prior to the start of its contract with New Zealand Carbon Farming in 2013, which it entered as part of its effort to offset emissions from electricity generation.
New Zealand Carbon Farming, the country’s largest supplier of post-1989 bulk carbon credits, began a case in the High Court in Auckland on Monday last week, suing MRP for $34.7 million over liability for carbon credits the listed energy company was contracted to buy.
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Carbon price nosedives
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