California carbon allowances trade at $15

700,000 California carbon allowances traded over the Intercontinental Exchange in the California carbon market’s busiest week in months.

The increase in activity is likely attributed to new participants in the market that will be required to meet emission regulations beginning this year.

CCAs for delivery in 2013 saw prices fluctuate throughout the week, hitting nearly $17 before closing at $15 by Thursday.

The California Air Resources Board recently announced that it plans to link with Quebec’s carbon market, subject to Governor Jerry Brown’s approval, which has also resulted in increased market participation.