| California carbon permits covering emissions this year sold for$12.29 a tonne at the cap-and-trade program's May auction, up 8 cents from what they fetched at the previous auction in February, the program's regulators said on Thursday.
The auction, the state's third held in conjunction with its trading partner the Canadian province of Quebec, saw the partners sell all 77 million 2013 and 2015 permits put on the block. They also sold 9.8 million permits covering 2018 emissions for the minimum price of $12.10 a tonne, regulators said. Over 90 percent of all the permits sold at the auction were purchased by large-emitting companies required to participate in the program, the regulators said.......................................Full Article: Source |