California carbon trading at $16

The price for California carbon allowances (CCAs) fell slightly from last week’s high of $16.75 to $16 even.

Trading volume on the IntercontinentalExchange also dipped from the previous week’s record setting 450,000 CCAs to a healthy 80,000 CCAs.

As November’s allowance auction approaches, more and more regulated entities are participating in the California carbon market.

PowerEx, an electricity marketing firm that sells Canada’s surplus energy to the Western US entered the market recently resulting in a surge of trading activity.