Carbon Markets Outlook

OUTLOOK: Australian carbon price, supply, and demand outlook – Technical Report, Dec 2025

Our latest Carbon Market Outlook (CMO) for the Australian carbon market has now been published. This quarterly CMO presents our detailed modelling and expectations for Australian Carbon Credit Unit (ACCU) and Safeguard Mechanism Credit (SMC) prices over a 10-year horizon to 2035, and underlying supply-demand fundamentals.

Following the Clean Energy Regulator’s (CER) newly announced permanent exit arrangement for Fixed Delivery Carbon Abatement Contracts (CACs), in this Outlook, we model expected impacts on the ACCU market, including the implications for available issuance and price development.

The below “Technical Report” (85 pages) presents our detailed Central Case modelling, including deep dives into industrial decarbonisation and low-emissions technology uptake, compliance demand, and our forecasts for ACCU supply.

Other links:

These reports are published under our Australian Carbon Intelligence service. Access the reports below, or take a tour of our EnergyIQ platform.

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