California carbon trading at $13.50

Prices for California carbon allowances (CCAs) continue to rise following last month’s successful allowance auction.

CCAs for delivery in 2013 closed at $13.50, as over 100,000 allowances traded over the course of the week.

Prices have been buoyed by news that Quebec passed legislation allowing its carbon market to link with California’s.

Quebec’s Minister of Sustainable Development, Environment, Wildlife and Parks expects the markets to merge as early as next spring and participate in allowance auctions beginning in August.

California Governor Jerry Brown must review the proposed linkage before it can be approved.