Calif.’s Second Cap-And-Trade Auction Sees Higher Prices

Law360, San Diego (February 25, 2013, 11:40 PM ET) -- In a sign that companies are warming up to California’s cap-and-trade auctions to reduce greenhouse gas emissions, a state agency on Friday released results from its second auction showing they paid a higher price for carbon pollution allowances.

The California Air Resources Board said it sold all of the 12.9 million allowances offered to cover emissions for this year and 4.4 million of the approximately 9.6 million allowances offered for emissions for 2016 during its Feb. 19 auction. Companies paid $13.62 per ton of carbon dioxide...
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