UPDATE 1-Australia’s emissions plan wavers as carbon price falls | Forex Fundas

While the government set no lower limit on the price of carbon credits when it detailed its CPRS in December, it estimated an initial price of about A$25 ($16.41) per tonne, about 17 percent below the price CERs were trading at in early December.

“This European market is falling like a stone. There’s nothing in Australian dollar terms over A$17 a tonne so it does chuck out the door anything you might have considered you were going to sell at A$25 come auction time, and it does raise some considerable issues over just how effective the government’s plans are,” said Cox.
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In Europe, carbon prices have closed at record-low levels for five straight days. On Thursday, the benchmark CER closed at 7.66 euros (A$15.05, US$9.86). The last announced trade in Australian emission units went through on Feb. 2 at A$21 per unit.

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