With program’s future in doubt, WA’s first carbon auction of 2024 raises almost $192M

(The Center Square) – Washington state held its first quarterly carbon auction of the year on March 6, selling all 7.4 million allowances at a final settlement price of $25.76 to bring in nearly $192 million, according to a preliminary summary report released Wednesday by the Department of Ecology.

That’s on top of the slightly more than $2 billion last year’s four quarterly auctions and two Allowance Price Containment Reserve auctions generated. The APCR is a separate pool of allowances that can be released into the market when increased demand at a quarterly auction pushes prices above a certain level.