(The Center Square) – Washington state held its first quarterly carbon auction of the year on March 6, selling all 7.4 million allowances at a final settlement price of $25.76 to bring in nearly $192 million, according to a preliminary summary report released Wednesday by the Department of Ecology.
That’s on top of the slightly more than $2 billion last year’s four quarterly auctions and two Allowance Price Containment Reserve auctions generated. The APCR is a separate pool of allowances that can be released into the market when increased demand at a quarterly auction pushes prices above a certain level.
“Ecology will release information on April 3, 2024, in the Auction Public Proceeds Report, providing the final amount of proceeds generated from Auction #5,” the summary report reads.
Per the Climate Commitment Act passed by the state Legislature and signed into law by Gov. Jay Inslee in
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