[30 November/ News Room]

The New Zealand carbon price has hit its highest level in more than six years due to speculation the Labour Government was likely to lift a cap on the maximum price emitters paid. The price for a New Zealand carbon unit under the Emissions Trading Scheme last traded this morning at $19.85 per tonne, the highest level since May 2011, having traded in a range of around $19.30 per tonne for the past couple of weeks. Green Party Leader and Climate Change Minister, James Shaw said an announcement would be made before Christmas surrounding the process of establishing a climate commission and implementing a higher carbon price cap.