200,000 carbon allowances trade in California

The California carbon market saw another busy week of trading with about 200,000 allowances trading on the Intercontinental Exchange.

California carbon allowances that regulated entities must use to account for their emissions closed at a price of $12.30 each.

Despite concerns about a potential delay to the carbon market’s first CCA auction, California Air Resources Board (ARB) Chair Mary Nichols recently reiterated that everything is on schedule for the November 14 auction.

The auction will be monitored by Markit North America, with Deutsche Bank will serving as the Financial Services Administrator

To assist in this process, the ARB has held two conferences within the last month explaining how regulated emitters such as fuel refineries and cement plants will register with the Compliance Instrument Tracking System Service and submit bids during the auction.