THE price of European carbon credits has hit record highs this week, with analysts and media putting it down to a halt in Russian gas exports.
According to market information service Barchart, European Union Allowances are currently trading at €98/tonne of CO2 or equivalent – which roughly converts to AU$146.50.
The price is more than five times the current value of Australian Carbon Credit Units (ACCUs), which are currently sitting at $28, and more than twice the record $56.5/ACCU reached earlier this year. Earlier this month, ACCUs hit the lowest point this year at $26.
EUAs have…
