First NZ ETS live auction results

The long awaited NZ ETS auction run by the Government took place today for the first time.   Results released at 12pm today confirmed that all 4,750,000  units were sold at a clearing price of $36 - lower than our last pre auction trade at $38.70, but higher than the Government's fixed price option of $35.

30 out of 40 participants were successful, and the units available from the CCR were not released.  Read more details on the auction here.

James Shaw has commented on the milestone saying “Allocating a portion of each year’s allowances via auction was key part of these reforms. Auctioning is a simple, transparent and credible process that will help to incentivise New Zealand’s biggest polluters to invest in the transition to a clean, climate-friendly economy.”  See the rest of the article here.