California carbon allowances trading at $14

California carbon allowances trading at $14

California carbon allowances (CCAs) closed at $14 at the end of the week, as market participants await the results of Tuesday’s CCA auction.

Prices remained steady from last week, and large volumes traded, with over 650,000 CCAs exchanging hands since Monday.

Earlier this week the Air Resources Board (ARB) held the first California carbon allowance auction of 2013, where 12,924,822 CCAs for 2013 and 9,560,000 CCAs for 2016 were offered.

The last carbon allowance auction in November resulted in the sale of all 2013 CCAs, generating nearly $300 million to be invested in other clean energy and emission reduction projects in the state.

(2/22/13)