Price Ceiling Information
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Conditions to Hold a Price Ceiling Sale
Pursuant to section 95915 of the Cap-and-Trade Regulation (Regulation), a price ceiling sale will only be offered if at least one California covered entity or opt-in covered entity does not have sufficient eligible compliance instruments in their holding and compliance accounts for the next compliance surrender deadline.
A price ceiling sale may only occur between the last Reserve sale before a compliance event and the compliance event itself.
Importantly, a price ceiling sale will not be offered if allowances remain in the first or second tier of the Reserve. Information on the Reserve can be found in the Reserve Sale Information webpage on the Cap-and-Trade Program website.
Price Ceiling Sale Eligibility
If a price ceiling sale is held, California covered entities and opt-in covered entities are eligible to apply for the sale only if the following eligibility criteria are met: (1) no Reserve sale allowances are available for sale, (2) the entity owes a compliance obligation due on the next compliance surrender deadline and, (3) the entity does not hold sufficient compliance instruments in its CITSS accounts to meet its compliance obligation. Voluntarily associated entities and individuals are not eligible to participate pursuant to section 95915(b) of the Regulation.
Price Ceiling Sale Price
Pursuant to section 95913(f)(1)(A) of the Regulation, the price of the 2021 price ceiling sale was $65.00 per allowance or price ceiling unit. Each year, the price ceiling price increases by 5 percent plus inflation pursuant to section 95915(f)(1)(B) of the Regulation. The price of the price ceiling sale since 2021 is provided in the table below.
Price Ceiling Sale Price Summary Table
| Year | Price Ceiling Sale Price |
|---|---|
| 2021 | $65.00 |
| 2022 | $72.29 |
| 2023 | $81.50 |
| 2024 | $88.22 |
Price Ceiling Sale Notice
If a price ceiling sale will be held, CARB will provide public notice of the sale, and this notice will also be posted here.
Price Ceiling Sale Requirements and Instruction
The Detailed Price Ceiling Sale Requirements and Instructions provide detailed requirements and instructions for participating in a price ceiling sale.
- Detailed Price Ceiling Sale Requirements and Instructions (updated January 5, 2024)