Government announces updated NZ ETS auction settings 2023-2028

New Zealand Emissions Trading Scheme (NZ ETS) auction settings have been updated for the years 2023–2028. This includes a reconsideration of settings decisions made last year, following settlement of a recent judicial review.

Starting from the December 2023 auction, the number of emissions units available at auction will be reduced. This reduction will support Aotearoa New Zealand’s ability to achieve its emissions budgets and international climate change commitments.

The auction floor and cost-containment reserve trigger prices will rise significantly to create a wider price corridor.

In 2024, the total CCR volume will decrease from 8 million NZUs under the current settings to 7.7 million NZUs, and will continue decreasing in the following years. Find out more below. 

Read more on the Ministry for the Environment website here.