California carbon trading at $16.30

Prices for California carbon allowances (CCAs) closed at $16.30 this week, as 40,000 CCAs traded over the Intercontinental Exchange.

Trading volume was down as market participants observed the mock CCA auction that was held on Thursday, August 30.

The California Air Resources Board (ARB) held the mock auction to test the CCA bidding platform and to allow regulated businesses to get familiar with the process.

Around 150 businesses participated in advance of the first live allowance auction scheduled for November 14.