Officials at the California Air Resources Board have issued additional summary statistics for the first auction of carbon allowances, which was held on November 14. The new figures show considerably less qualified bid interest for the Vintage 2013 allowances than previously reported.  In fact, two-thirds of the previously reported bid volume was disqualified (roughly 47 million tons).

Today’s report by ARB indicates the ratio of total qualified bids to total Vintage 2013 allowances available for sale is 1.06, meaning there were qualified bids for 24.47 million tons (of the 23.1 million for sale).  The official results released on November 19 indicated this ratio was 3.10, or 71.61 million tons. In ARB’s original report, the agency included bids that were disqualified due to purchase limit, holding limit or bid guarantee violations.  ARB maintains the disqualified bids did not have an impact on the final results in the auction settlement, in which all 23.1 million allowances on offer were sold for a settlement price of $10.09 – just above the auction reserve price.

ARB also reported the weighted average bid price for qualified bids was $15.60/allowance vs. $13.75/allowance as previously reported.

Below you will find revised statistics for the auction. Please contact Evolution Markets' US Carbon Markets Team at: +1 415.963.9137 or +1 914.323.0265, for more details on the auction or to transact in the market.