EU Carbon Price Dives

There is an interesting article on the price of carbon on the European market in today’s Financial Times.  My gut feeling is that it will fall further as more European countries try and water down the impact of the scheme (already far less rigorous than that implemented by the previous Government).  I do hope that Peter Dunne ensures that the select committee has a good look at the European scheme as a possible role model for the New Zealand scheme.

Carbon prices have fallen precipitously in the past six months, reflecting the financial crisis and recession.

The cost of a permit to produce a tonne of carbon dioxide under the European Union’s emissions trading scheme topped €30 ($38) over the summer, but since then has halved and now hovers near €15-€16.


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