24 million California carbon allowances to auction in May

On Monday the California Air Resources Board released the notice for its upcoming California carbon allowance (CCA) auction in May.

 

The auction, scheduled for Thursday May 16, will offer 14.5 million California carbon allowances to be delivered in 2013, as well as 9.5 million future CCAs to be delivered in 2016.

 

Last February’s auction saw all 12.9 million 2013 CCAs sell at a settlement price of $13.62, reflecting increased participation from many additional California businesses.

 

In fact there were almost two and a half times as many qualified bids for as there were allowances for sale, signaling their high demand.

 

Combined with the future sale of 2016 CCAs, the February auction generated over $223 million in revenue.

 

The money raised from the sale of California carbon allowances will be used to fund other emission reducing projects in the state, improve air quality in disadvantaged communities, and offset electricity price increases for average customers.

 

Approximately 1.5 million additional vintage 2013 California carbon allowances will be available for purchase in the upcoming auction on May 16.

 

 

 

(3/19/13)