California-Quebec Carbon Auction Sells Out at $12.10
This article is for subscribers only.
California and the Canadian province of Quebec, which together run North America’s biggest carbon market, sold greenhouse-gas allowances for $12.10 each in their first joint auction last week.
The two governments received 1.73 bids for every allowance that was on sale Nov. 25, the California Air Resources Board said in a notice on its website today. Units of companies including BP Plc, Exxon Mobil Corp. and PG&E Corp. qualified to participate in the auction.