• NZUs lacklustre – calm before storm perhaps
Spot NZUs closed at $24.75 in quiet trade.
The market has become somewhat moribund in the last week or so after breaching the $25 level. We still have a couple of weeks left in Q3 which, along with Q2, is often the quietest time of year. We do expect market activity to seasonally pick up as we head into Q4 2019 and Q1 2020.
We are also “eagerly” awaiting the introduction of legislation on changes to the Climate Change Response Act (CCRA) and the reintroduction of the Zero Carbon Bill…