Prices for California’s Emissions Credits Increase in Early 2022 Auction, In its first quarterly auction of 2022, emissions credits
In its first quarterly auction of 2022, emissions credits in the joint California-Quebec allowance auction sold for $29.15 per metric ton of carbon dioxide equivalent, or nearly $10 per metric ton more than the minimum price for allowances.
Since 2012, most of the auctions have sold emissions credits at prices near the auction reserve price, the minimum price for allowances in each auction. Under the cap-and-trade program, the steadily declining cap on emissions helps California’s public and private energy producers to meet carbon dioxide emissions reduction goals set by the state legislature. Actual emissions have been below the cap in each of the compliance years through 2020, the latest data published.
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