California carbon allowances trade at $11.65

California carbon allowances to be delivered in 2013 closed at $11.65 this week.


Over 250,000 California carbon allowances were exchanged over the course of the week.


The November California carbon allowance auction saw 2013 CCAs reach a settlement price of $11.48, with all 16.6 million CCAs being sold.


Combined with the sale of 2016 CCAs, the November auction produced revenues of nearly $300 million.


The five CCA auctions to date have generated a total of $1.3 billion that will be used to fund other emission reduction projects, improve air quality in disadvantaged communities, and offset any increase in electricity prices for ratepayers in the state.


The price for California carbon allowances will increase next year when the auction floor price is raised to $11.34.