Price Ceiling Information
- Cap-and-Trade Program
- Allowance Allocation
- Auction Information
- CITSS Home Page
- CITSS Registration and Guidance
- Compliance Offset Program
- Cost Containment Information
- Guidance and Forms
- Market Monitoring
- Meetings & Workshops
- Program Data
- Program Linkage
- Voluntary Renewable Electricity Program
Conditions to Hold a Price Ceiling Sale
Pursuant to section 95915 of the Cap-and-Trade Program, 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 tiers 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
California covered entities and opt-in covered entities are eligible to apply for a price ceiling sale, if one is held, 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. Voluntarily associated entities and individuals are not eligible to participate.
Price Ceiling Sale Price
The price of the 2021 price ceiling sale was USD 65.00 per allowance or unit. Each year, the price of allowances or units offered for sale in the price ceiling sale will increase by five percent plus inflation. The price of the 2022 price ceiling sale is USD 72.29.
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 December 31, 2021)