300,000 California carbon allowances trade

Roughly 300,000 California carbon allowances for delivery in 2014 traded this week over the IntercontinentalExchange.


The price for vintage 2014 California carbon allowances settled at $11.95.


On Monday, the results of the Air Resources Board’s February 19 California carbon allowance auction were published.


All 19.5 million 2014 California carbon allowances were sold at a price of $11.48, while all 9.2 million future 2017 allowances reached a settlement price of $11.38.


A total of 28.7 million allowances were sold, generating revenues of over $329 million.


The February auction was the sixth held by the ARB and set records for volume of allowances sold as well as revenue created.


The ARB has sold 146 million CCAs over the six California carbon auctions they’ve held so far, amounting to an investment of over $1.6 billion in the state’s economy.

Revenue will be used to fund other emissions reductions projects in the state, improve air quality, and offset any increases in electric prices for average consumers.