NZUs closed at $23.30 on Friday as seasonal demand started to trickle into the market. It’s been a little surprising as mentioned previously given the size of supply that hit the market in the last couple of weeks. Some of this spot got wrapped up into Forwards which suited emitters for 2019 surrender (in May 2020) as prices were below the $25 FPO.
European prices (EUAs) hit €30 on Wednesday – a thirteen year high and NZ$50 equivalent. The price has backed off a little since then and most of the strong rise could be attributed to much hotter weather…
