Climate Roundup: Joint CA-Quebec Auction Planned

9 Oct 2014

California and the Canadian Province of Quebec are holding their first joint carbon emissions rights auction Nov. 19. Together, they plan to auction off 23.1 million tons of vintage 2014 allowances and 10.8 million tons of vintage 2017 allowances. The minimum bid price for both 2014 and 2017 allowances in California is $11.34/ton, or $12.47 in Canadian dollars. In Quebec, bids are to open at $11.39/ton Canadian, or $10.35 U.S.

Results of the first joint auction are due on Nov.26.

The joint auction marks the culmination of years of effort by California to link its carbon cap-and-trade market to carbon markets in other jurisdictions. At first, state leaders envisioned linking the program to markets being eyed in other western states—like Oregon and Washington—and additional Canadian provinces. However, the only jurisdiction that ultimately put together a cap-and-trade program similar to the one in California so far has been Quebec.

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Pasadena Water & Power is updating its integrated resources plan to cover 2015 through 2034 with an eye toward potentially upping the amount of renewable energy it uses to reduce greenhouse gases. The muni currently is at the 27 percent renewable energy level. Also on the table is the muini’s potential early phase-out of reliance on coal power from the Intermountain Power Project in Utah. That plant serves a number of Southern California munis, including Pasadena and the Los Angeles Department of Water & Power. They are investigating replacing the plant with a natural gas-fired facility.

Pasadena Water & Power is planning a public meeting on the planning effort Oct. 16, although it is still gathering public opinion about how to revise its long-term plan. It has set no firm schedule for completing its work.

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Los Angeles mayor Eric Garcetti joined with mayors Annise Parker of Houston and Michael Nutter of Philadelphia to create a “Mayors National Climate Action Agenda” late last month.

They pledged to set greenhouse gas reduction targets for their cities and carry out projects to achieve them, as well as to work toward getting the federal government to develop a binding national carbon reduction policy.

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