California carbon hits $14.80

The price for California carbon allowances (CCAs) rose 30 cents from last week to $14.80.

However there was little trading action as only 15,000 CCAs changed hands on the Intercontinental Exchange.

A number of new market forecasts were released this week predicted very high prices for carbon.

A study by Bloomberg New Energy Finance (BNEF) expects prices to rise steadily until a 2020 peak at $54.

Another analysis performed by German firm Tschach Solutions shows prices will hit $35 in 2013, the first year of the market.