California carbon trading at $15.15

The price for California carbon allowances (CCAs) for delivery in 2013 continued to rise, hitting $15.15 as regulated businesses anticipate the market’s first compliance period which begins in January.

Prices have been steadily rising since California held its first allowance auction on November 14, which saw CCAs reach a settlement price of $10.09 apiece, despite a mean bid price of $15.60.

Trading volumes have also remained healthy with more than 300,000 CCAs trading over the past week.

Little trading is expected over Christmas week so California businesses facing new emission regulations are acquiring CCAs before the new year.