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California Proposes Carbon Permit 'Price Floor' of $10 Each
2010-10-29 14:27:54.5 GMT
By Simon Lomax
Oct. 29 (Bloomberg) -- A planned cap-and-trade program for
carbon dioxide and other greenhouse gases in California would
set a "price floor" for pollution permits of $10 each,
according to a state agency.
The price floor will be established by not accepting bids
below a "reserve price" in state-run carbon dioxide permit
auctions, the California Air Resources Board said today on its
website. The reserve price for the cap-and-trade program's first
year in 2012 is $10 a permit. It will be raised each year by the
rate of inflation plus 5 percent, the agency said.
Each permit represents one metric ton of carbon dioxide.
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To contact the reporter on this story:
Simon Lomax in Washington at +1-202-654-4305 or
slomax@bloomberg.net
To contact the editor responsible for this story:
David Marino at +1-212-617-1894 or
dmarino4@bloomberg.net
