790,000 California carbon allowances trade
In another busy week of trading 790,000 California carbon allowances exchanged hands.
Over 2 million California carbon allowances have traded since the results from last February’s CCA auction were released.
In that auction, all of the nearly 13 million CCAs for delivery in 2013 reached a settlement price of $13.65 apiece, well above the mark that some market analysts had projected.
Prices for California carbon allowances (CCAs) have surged since then, trading above $15 last week, and closing at $14.55 this week.
The state’s Air Resources Board will be releasing information later today about carbon offset credits projects that are planning to transfer to the California compliance market.
Regulated emitters will be able to purchase carbon offset credits to meet up to 8% of their compliance obligation, creating a potential demand for over 200 million credits by 2020.