California carbon price rises to $14.25

California carbon allowances traded for $14.25 per ton this week on the Intercontinental Exchange (ICE).

Trading was thin as market participants await further design rules from the California Air Resources Board (ARB).

According to one broker, companies that will have their emissions regulated under California’s carbon market have been gathering information on how the state will allocate CCAs.

These companies may not be trading just yet, but they are certainly positioning themselves to be prepared for the first allowance auction scheduled for August.