A Québec-California carbon market joint auction is being held today

The joint auction will take place between 1 p.m. and 4 p.m. ET. In total, 57,090,077 emission units for the Current Auction and 8,672,250 emission units for the Advance Auction (2023 vintage) will be put on sale at a minimum price of $22.11 CAD ($16.68 USD). Bidders from Québec and California will be able to submit bids for the purchase of emission units, enabling them to reach their environmental objectives set under their greenhouse gas cap-and-trade system.

Quick fact:

• The results of the auction (the quantity of emission units sold and final prices) and the identities of participating bidders will be posted on February 26, 2020 on the MELCC Web site.

• The February 19, 2020 Joint Auction #22 Notice is available at: http://www.environnement.gouv.qc.ca/changements/carbone/ventes-encheres/avis-resultats-en.htm.