The California Air Resources Board (ARB) today announced the result of last week's Cap-and-Trade Allowance auction. A summary of the results was posted on its website at noon today.
This second auction of greenhouse gas (GHG) allowances was held on February 19, 2013. It included a current auction of 2013 vintage allowances and an advanced auction of 2016 vintage allowances. The auction is part of California's Ab32 Climate Change regulations.
Under the program, affected businesses and other entities were first allotted free allowances by the state. If emissions from their facilities will be more than what those allowances permit, then additional allowances may be purchased from the state under the auction program.
A total of 12,924,822 allowances for 2013 were sold at a clearing price of $13.62 per allowance. For 2016, a total of 4,440,000 allowances were sold at a clearing price of $10.71 per allowance.
According to its regulations, ARB has not released the names of the companies that purchased the allowances, nor have they released the individual purchases. However, several Bakersfield and Kern County firms were shown as qualified bidders, including AERA Energy, Berry Petroleum, Chevron USA, and many others.
The next auction will be held on March 8, 2013.
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