California carbon allowances trade at $14.50
California carbon allowances for use in the state’s compliance market traded at $14.50 apiece a week after the results of the state Air Resources Board’s auction were posted.
Volume for California carbon allowances to be delivered in 2013 was healthy with over 350,000 CCAs exchanging hands.
The number of future vintage 2016 California carbon allowances volumes jumped dramatically as over 450,000 traded during the week.
This reflects increased interest in future allowances after the ARB’s May 16 auction results revealed that 80% of the offered 2016 allowances were sold.
The May auction saw all 14.5 million vintage 2013 allowances sell for $14 apiece, over $3 higher than the price floor.
Combined with the sale of 7.5 million 2016 future allowances, the ARB’s third California carbon allowance auction totaled over $283 million.
To date the state’s sale of carbon allowances has generated over $800 million to be invested in other emission reducing projects.