GreenX, ICE Launch Calif. Carbon Futures
ICE announced that the first trade of the California Carbon Allowance forward contract took place this morning. The transaction was for 100 contracts between NRG Power Marketing LLC and Shell Energy North America (US) L.P. at a price of $17.00 per allowance.
ICE says that this was the first ever exchange-cleared trade based on California’s forthcoming cap and trade program.
GreenX moved the opening trading day for its California Carbon Allowance Futures to today from a planned date of September 11, citing “strong customer demand and increasing over-the-counter activity.”
The launches come in the wake of a decision by state regulator the California Air Resources Board to reaffirm its commitment to the planned cap-and-trade system.
Earlier this year a San Francisco Superior Court judge said the CARB had yet to adequately analyze alternatives to a cap-and-trade program, and ordered it to stop work on the program and investigate alternatives such as a carbon tax. This analysis has now been completed, the Los Angeles Times reports, and the CARB is pressing on with its cap-and-trade plans.
Energy Manager News
- Clauses to Consider in Green Leases
- Bahama Yacht Club to Generate Power from Solid Waste
- Duke Energy, USF Launch Solar Battery Research Initiative
- Energy Storage Helps Hotel Reduce Demand Charges by 10%
- EU Smart Campus Pilot Achieves 30% Energy Savings
- Uline to Operate 130 GenDrive Fuel Cell Units from Plug Power
- Los Angeles Shopping Center Installs 504 kW Solar
- SustainCo Wins $575,000 Contract for Energy Management Controls