BNEF Lowers California Carbon Price Forecasts After First Sale
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California carbon allowances will sell for $14.06 each next year, down 2.7 percent from previous forecasts, Bloomberg New Energy Finance said after permits cleared in an auction near the lowest allowable price.
The California Air Resources Board sold all 23.1 million carbon permits offered at a Nov. 14 auction for the first compliance period of the state’s emissions program starting Jan. 1, the agency said on its website yesterday. The allowances cleared at $10.09, 9 cents above the $10 “floor price,” or the lowest price allowed.