NSW NGACs sustain 50pc price-crash into second week to $6.35 on light-bulb surplus
Posted by gmarkets on 25 September, 2007
For NSW Greenhouse Abatement Certificates, the fall in value – by half – was sustained into a second week.
Now what? It is the second week in a row of steady or moderate price drops but there is still no consensus on where it will go from here. In the spots, the middle of the week saw most of the activity take place with several large parcels going through at $6.35. A number of small deals also went through slightly above this level. Late in the week a series of forward deals went through, providing some idea of where the prices sat along the curve. The deals that took place — all standard market parcels —inferred a spot price below the spot level established earlier (approximately $6.25)”.
Reference: The Green Room, Edition 121, 24 September 2007. http://www.nges.com.au