Proposed changes to NZ ETS limit and price control settings for units for 2022

Results updated 15 Dec 2022

From 8 September to 6 October 2022, the Ministry for the Environment consulted on proposed changes to NZ ETS limit and price control settings for units.

Thank you to all who made a submission.

Read the summary of submissions [PDF, 481 KB]

Decisions have now been made

Decisions on unit settings for 2023-2027 have been made. These are detailed in the tables below. Additionally, the resulting auction volumes are also provided. The published auction calendar for 2023 is being updated to reflect the decisions.  

Note: Auction volumes are derived by subtracting the cost containment reserve volume from the limit on New Zealand units available by auction. 

	Millions of units for each year
	2023	2024	2025	2026	2027
Auction volume	17.9	17.1	15.3	13.5	11.7

Limits for units

	Millions of units for each year
	2023	2024	2025	2026	2027
NZUs available by auction	25.9	24.8	22.5	20.0	17.6
Approved overseas units used	0	0	0	0	0
Overall limit on units	32.3	31.1	28.8	26.2	23.7

Price control settings for units

Year	2023	2024	2025	2026	2027
Auction reserve price	$33.06	$35.90	$38.67	$41.45	$44.35
CCR Trigger price	$80.64	$91.61	$103.24	$115.84	$129.97
Reserve volume, million NZUs	8.0	7.7	7.2	6.5	5.9

Links:

• New Zealand Emissions Trading Scheme: 2022 Update to Limits and Price Control Settings for Units
• Regulatory Impact Statement: Annual update to New Zealand Emissions Trading Scheme limits and price control settings for units 2022

Published responses

View submitted responses where consent has been given to publish the response.