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Carbon Market

Trading on the domestic market continues to be light with a lack of supply of NZUs and sellers holding off for higher prices. This has had the effect of strengthening the NZU price to $19 per NZU, but it appears that buyers are now holding off from increasing their bids in the hope that price will weaken with the issuance of NZUs to Emission Intensive and Trade Exposed companies and the pre-1990 forestry allocation commencing. Emitters have until the 31 May 2011 to purchase and surrender NZUs to meet their emission liabilities for 2010. CERs are currently trading over NZ$25 and therefore are not an option for New Zealand buyers.