California releases carbon trading guidelines
The California Public Utilities Commission (CPUC) has released its procurement rules that regulated emitters must meet in order to participate in the states carbon market.
Traders are pleased to see the rules come out, since companies will now have a better understanding of how they will be able to buy and sell carbon offsets. This will provide further liquidity to the market.
One major question that regulated emitters have been wondering is how many free carbon allowances they will receive to ease the cost of transition to improved energy efficiency.
The rules may be approved by mid-March in yet another step toward the first carbon allowance auction scheduled for August.