California raised $331.8 million at its latest carbon auction, held Aug. 18.
The state’s eighth cap-and-trade auction sold all 22.5 million allowances to release carbon emissions this year, with companies paying $11.50 a ton for the 2014 carbon credits.
The state also sold an additional 6.5 million permits that can’t be used until 2017 of the 9.3 million offered for $11.34 a ton.
The carbon price at the Aug. 18 auction was the same as the state’s seventh auction, held in May, and slightly higher than the previous two auctions in February and November, each of which sold allowances for $11.48 each.
Photo Credit: California state capitol building via Shutterstock