| California said on Wednesday that carbon allowances fetched $12.21 a tonne at the cap-and-trade program's first auction of the year, a rate below market expectations even though all of the permits offered were sold.
The auction was the first since the two-year-old cap-and-trade program expanded to cover distributors of transportation and home heating fuels on Jan. 1, roughly doubling the market's size. The state sold all 73.6 million permits offered to cover 2015 emissions and 10.4 million allowances offered to cover emissions in 2018...............................................Full Article: Source
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