• NZUs trade the range
• COP25 in Madrid a complete disappointment
NZUs continue to stay within the range and are firmly ensconced below the $25 FPO. It’s hard to see what will break this range in the short term but longer term we should see prices move higher as we head towards the return and surrender period and we get greater certainty on the changes to the ETS.
The failure of the Paris parties to agree to terms for Article 6 in Madrid was a complete disappointment. If it were up to me, I would boot…