In the Media
California delays first cap & trade permit auction
March 28, 2012
Mary Nichols, chairwoman of the California Air Resources Board (ARB) announced at a state senate hearing that the first carbon permit auction will be pushed back to November 14th.
The surprise announcement came at a hearing called to discuss what to do with proceeds from the sale of permits to emit greenhouse gases, the first of which is expected to flow into state coffers late this year. Nichols’ announcement stole the headlines, though she said that the new auction date will not affect the overall timeline for implementation and that August will now be a “practice auction.”
“We’ll give everybody a free round in August where the auction won’t really count,” Nichol told me. “So that gives all the stakeholders, including of course, all the companies that are going to have to be purchasing allowances at the beginning an opportunity to see how the system will actually work.”
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Keywords: ARB, California, cap-and-trade, financing, North America, policies, USA