California carbon allowances trade at $12.25
California carbon allowances (CCAs) for delivery in 2014 traded at $12.25 ahead of next week’s CCA auction.
The price for California carbon allowances have risen over the past few weeks, bucking the 2013 trend that typically saw prices dip in the lead up to each quarterly CCA auction.
This stability demonstrates market participant’s confidence in the accuracy of the CCA price.
Market players were also engaged in the futures market, transacting half a million California carbon allowances for delivery in 2017 at a price of $11.75.
On February 19, the California Air Resources Board (ARB) will hold its sixth CCA auction.
Over 19.5 million vintage 2014 California carbon allowances will be offered, as well as 9.2 million vintage 2017 CCAs, according to the ARB’s auction notice.
The floor price has been raised to $11.34 for all four auction this year, an increase of $0.63 from 2013.