289,000 carbon allowances trade in California

In a very busy week, 289,000 California carbon allowances (CCAs) for delivery in 2013 traded over the Intercontinental Exchange.

The bulk of this week’s trading hovered about $16 per CCA before the market closed at $15.60.

The California Air Resources Board will announce allowance allocation for utilities on Friday, which will give regulated businesses more certainty regarding how many CCAs they will need to buy at auction this November, and how many carbon offset credits they should purchase.

California carbon offsets gained interest in the $11-$13 range although no trades were finalized.