Carbon News - Intelligence for the carbon market

TEN YEARS AGO ...

Monday 1 Apr 19 11:00am

Ten years ago, the government was being advised not to put a cap on the price of carbon.

The Emissions Trading Scheme was just a few months old and just one trade had gone through.


The broker who handled that deal, OMFinancial’s Nigel Brunel, was worried the new National Government would introduce a price cap in order to align the ETS with Australia’s proposed cap-and-trade scheme.


“A price cap is absolutely wrong because you can’t have a free market and a price cap,” he told Carbon News.


FIXED PRICE


The National Government did go on to introduce a price cap in the form of a fixed-price option, allowing emitters to pay the government $25 for every tonne of liable emissions instead of surrendering a carbon credit.


Australia’s plans for an ETS were scrapped by the Abbott Government in 2014.


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