Air Resources Board Posts Notice for California’s First Cap-and-Trade Auction

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On September 14, the Air Resources Board today issued the 60-day public notice for California’s first cap-and trade greenhouse gas allowance auction on November 14, 2012. The allowances sold at the auction are for compliance with the state’s greenhouse gas reduction effort under the 2006 Global Warming Solutions Act (AB 32). Compliance with the program begins January 1, 2013 and includes nearly 600 industrial facilities and utilities.

The November 14 auction will take place during a three-hour bidding window (10 a.m.-1 p.m. PST). A total of 61.2 million carbon allowances will be offered for sale. Allowances from the 2013 and 2015 vintages will be available. The vintage of an allowance determines the year in which it may first be used for compliance.

After the auction the following information will be publicly released:
•    Names of qualified bidders
•    Settlement price
•    Auction Summary

To view the Auction Notice, click here

For more explanation of cap-and-trade and the auction process, click here