New Zealand Emissions Trading Scheme Units Have Jumped To $65 After The Government Lifted Auction Prices And Reduced The Number Of Available Units

New Zealand Emissions Trading Scheme units have jumped to $65 after the Government lifted auction prices and reduced the number of available units. Units had been trading on the secondary market at just $45 on Tuesday, and had fallen as low as $36.50 earlier in July. While the price was up 44% overnight, units are still about 11% lower than they were six months ago. This week the High Court ordered the Government to revise its settings for the 2026-2028 period. Climate Change Minister James Shaw announced significantly tighter settings for the 2023 to 2028 periods and the impact on the market was immediate.