Carbon price should be set at $70 a tonne and rise six-fold by mid-century, says AEMC

Exclusive: Australian Energy Markets Commission set interim value for cutting emissions that should reach $420/t CO-e by 2050

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New energy market laws should set a carbon price starting at $70 a tonne, rising steadily to six times that by mid-century, according to the agency that sets the nation’s electricity and gas market rules.

In a report released without fanfare at the end of March, the Australian Energy Markets Commission (AEMC) set an interim value for cutting emissions, starting at $70 per tonne of carbon dioxide-equivalent in 2024. That price should increase steadily to reach $420/t CO-e by 2050, when Australia aims to reach net zero carbon emissions.

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