Trading in Australian emissions units (AEUs) hit record levels on November 11, 2008. The 2011/12 contract went through AUD $23.00 while the 2012/13 vintage contract traded at $24.75. Both deals involved 10,000 AEU’s trading hands.

As reported by PointCarbon, no further trades have been heard in the last two weeks, but the rising prices levels were a response to the Treasury’s October report concluding that the CPRS would have only a minor economic impact.

Continued pressure on the government to delay the introduction of the CPRS beyond the planned July 1 start, has made traders reluctant to take positions in the first year vintage.

This is expected to change once the government proposes firm rules for the scheme with the release of the white paper in December.