California Cap and Trade Auction Results Released

California Air Resources Control Board released the Cap and Trade auction results. They can be found here:http://www.arb.ca.gov/cc/capandtrade/auction/november_2012/auction1_results_2012q4nov.pdf.

All of the 2013 allowances were purchased at a low price and only a small fraction of the 2015 allowances were purchased.  One would presume that many companies were not willing to bet that the Cap and Trade program would still be around in its current state in 2015, whether the legislature or the goverment will make changes, or whether the California Chamber’s lawsuit will be successful.

Total 2013 Allowances Available for Sale: 23,126,110

Total 2013 Allowances Sold at Auction: 23,126,110

Total Submitted Bids Divided by Total 2013 Allowances Available for Sale: 3.10

Auction Reserve Price: $10.00

Settlement Price Per Allowance: $10.09

Allowances Purchased by Compliance Entities: 97.0%

Bid Price Summary Statistics

Maximum Price: $91.13

Minimum Price: $10.00

Mean Price: $13.75

Median Price: $12.96

For 2015

 Total 2015 Allowances Available for Sale: 39,450,000

Total 2015 Allowances Sold at Auction: 5,576,000

Total Submitted Bids Divided by Total 2015 Allowances Available for Sale: 0.14

Auction Reserve Price: $10.00

Settlement Price Per Allowance: $10.00

Allowances Purchased by Compliance Entities: 91.0%

Bid Price Summary Statistics

Maximum Price: $17.25

Minimum Price: $10.00

Mean Price: $11.07

Median Price: $10.59