After more than six months of rapid increase, the price of Australian Carbon Credit Units (ACCUs) has decreased in the last two weeks. ACCUs were trading at around AU$51/tonne of carbon dioxide equivalent this week, down from over AU$57/tonne at the start of the month, erasing all the market's gains in January.
Much of the increase occurred in the second half of last year, when businesses competed fiercely for a limited supply of ACCUs to offset their emissions, driving prices to triple in six months. Although the price recently plummeted, the market is no longer the same as it was at this time last year, when ACCUs were hovering at AU$16.
