Barclays, NRG Make First California Cap-and-Trade Deal
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Barclays Plc and NRG Energy Inc., the largest U.S. independent power producer, have completed the first deal for carbon-dioxide permits under California’s planned cap-and-trade program for greenhouse gases.
Under terms of the trade announced today, permits or carbon allowances will be delivered in December 2012, said Kedin Kilgore, head of U.S. emissions trading for London-based Barclays. The state’s cap-and-trade program begins in 2012 for utilities and manufacturers and in 2015 for cars and trucks. Eventually, 85 percent of California emissions will be covered.