Quebec-California cap-and-trade auction sells out
Quebec and California’s latest joint cap-and-trade auction has sold out, weeks before Ontario is set to become part of that market.
The results of last week’s auction, released today, show the third sell-out in a row for current credits as well as the second sell-out in a row for 2020 credits.
Experts say strong sales of future credits show confidence in the longevity of the market.
Quebec and California have been jointly holding cap-and-trade auctions since 2014, and as of Jan. 1, 2018, those will include Ontario, which has been running its own cap-and-trade system this year, with three sell-out auctions in a row.