California power plant buying offsets
California’s largest emitter Pacific Gas & Electric (PG&E) is looking to buy a significant number of carbon allowances and offsets.
With annual emissions totaling nearly 25 million tons of carbon dioxide (CO2), PG&E will need to make substantial purchases in order to comply with new state regulations set to go into effect in 2013. To meet this demand PG&E is publicly accepting contract offers.
Although trading for California carbon allowances (CCAs) has slowed somewhat in the past few weeks, the participation of a major electric utility sends a confident signal that the market will launch on schedule.