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California Carbon Permits Bid at Average $15.60 Last Month

California, the second-biggest carbon polluter in the U.S., behind Texas, said companies offered an average $15.60 a ton for emissions allowances in a state auction in November.

The price exceeds a preliminary figure of $13.75 a ton issued last month for all submitted bids because some offers were subsequently rejected for violating purchasing and holding limits or bid guarantees, the state Air Resources Board said on its website today. The state disqualified 66 percent of companies’ offers from the auction, according to Bloomberg’s calculation of the data provided by the state.