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 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 |
|
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 |
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 |
View submitted responses where consent has been given to publish the response.
Unit settings are updated annually to ensure the NZ ETS remains an effective tool to reduce greenhouse gas emissions.
We sought feedback on the impacts of proposed changes, including the Climate Change Commission's recommendations, on price controls and unit settings for New Zealand Units.
Read the consultation document [PDF, 812 KB]
We hosted two webinars where participants had an opportunity to hear more about the proposals and ask questions.
View the webinar slides [PDF, 955 KB]
View the questions and answers from the webinars [PDF, 176KB]
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