CANBERRA (Reuters) - Australia's top polluters, from steel firms and coal miners to airlines, will save about A$2.5 billion over 5 years after a decision to align the nation's carbon scheme with Europe's, a leading analyst firm said on Tuesday.
Carbon analysts RepuTex also said in a report polluters did not need to rush in to buy European carbon permits ahead of a merger of both carbon markets, with the price of European allowances to remain low.
The European Commission and Australia last week agreed to fully link their carbon trade schemes by 2018, allowing trade of pollution permits between both markets, a step that traders say would improve liquidity and increase opportunities for hedging carbon costs. Each permit equals a tonne of carbon emissions.
