Owing to EU companies’ forecasts for 2010 and the obligations to meet the EUETS standards, early 2008 saw a rise to about 30 USD in carbon prices. While CER’s price still remained at 12 USD and obviously no one came forward to purchase what they can get for 12 USD at 30 USD. Some operators, more clever than other, sold their European allowances to others and bought CEAs to replace their European ones. Later, CERs rates also increased and almost coincided with the European allowance rate when there was a slight balance after which both, the EUA’s and CER’s rates started tumbling. Thus began the sad state of the carbon market. Following this, prices dropped even further with recession setting in completely. New Zealand’s current rate is a little less than 10 USD at the moment.
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