Tuesday, January 21, 2014

Guangdong sells 3.89 mln carbon permits

China's Guangdong province ... sold 3.89 million carbon permits at the minimum price of 60 yuan (AU$11.11, US$9.88) each in its second allowance auction.

A total of 46 companies bid successfully for permits, with bids ranging from 60 yuan to 65 yuan....

Five million permits were on offer, but the auction was not fully subscribed....

In its first auction last month, Guangdong sold 3 million permits at 60 yuan [also].

The Guangdong emissions trading exchange, the world's second biggest, caps carbon dioxide emissions from 242 of the province's power generators and manufacturers, and covered companies must buy 3 per cent of the permits they need through government auctions.

The province will sell a total of 29 million permits for calendar year 2013 by the end of June.

Reuters via Business Spectator www.businessspectator.com.au
January 8, 2014

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