California Carbon Forecast Cut Before Auction, BNEF Says

Prices for California carbon allowances will average about $29 a metric ton between next year and 2020, about 5.5 percent lower than an earlier estimate, according to Bloomberg New Energy Finance.

Prices will start at $11 a ton next year when the state’s emission-trading program goes into effect and will reach $47 a ton in 2020, the London-based research company said today in a report.

California’s Global Warming Solutions Act requires the state to regulate carbon emissions of refineries, power plants, industrial facilities, and transportation fuels using a cap-and- trade system. The first auction is scheduled for Nov. 14.

To contact the reporter on this story: Ehren Goossens in New York at

To contact the editor responsible for this story: Reed Landberg at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.