Air Resources Board posts notice for California’s first cap-and-trade auction

Date

September 14, 2012

Release Number

12-45

Contacts

Dave Clegern

Public Information Office

dclegern@arb.ca.gov

(916) 322-8286

SACRAMENTO -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, go to: https://www.arb.ca.gov/cc/capandtrade/auction/auction.htm

For more explanation of cap-and-trade and the auction process, go to: https://www.arb.ca.gov/cc/capandtrade/capandtrade.htm

CARB is the lead agency in California for cleaning up the air and fighting climate change to attain and maintain health-based air quality standards. Its mission is to promote and protect public health, welfare, and ecological resources through the effective reduction of air and climate pollutants while recognizing and considering effects on the economy.