(The Center Square) – Results from Washington state’s first carbon auction of the year show a massive decrease in the final settlement price for allowances, which was just above the minimum bid and half of the average price last year.
That could be an indication that Initiative 2117, to repeal the Climate Commitment Act and prohibit state agencies from implementing any type of carbon tax in place of the repealed CCA, is having an effect on the state’s carbon market.
The March 6 quarterly carbon auction by the Washington State Department of Ecology brought in nearly $192 million on the sale of 7.4 million price allowances at a final settlement price of $25.76 each. That was just above the auction floor price of $24.02.
The settlement price for the first quarter of 2023 for one metric ton of carbon was $48.50, $56.01 for the second quarter,
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