The first Québec-California auction was a success

QUÉBEC, Nov. 25, 2014 /CNW Telbec/ - The Ministère du Développement durable, de l'Environnement et de la Lutte contre les changements climatiques (MDDELCC) held the first joint greenhouse gas emission allowances auction today with the California Air Resources Board (ARB) since the two jurisdictions linked their respective carbon markets on January 1, 2014.

In all, 23,070,987 units for 2014 and 10,787,000 units for 2017 were put up for sale at a minimum price of 12,82 $CAD (11,34 $USD).

In the coming days, the offers made at auction will be rigorously vetted by both the MDDELCC and the ARB. Before being publicly released, the results will be validated by the Market monitor and certified by the authorities of the ARB and the MDDELCC.

Let's recall that the first joint auction was initially scheduled to take place on November 19 but, due to technical difficulties preventing some participants to access the Web platform, the MDDELCC and the ARB commonly decided to postpone the auction to today, November 25^th. Both partners and their service providers actively worked together over the last few days to overcome the technical challenges involved in this endeavour, in order to guarantee the success of the auction.

The results of the auction will be posted on Wednesday, December 3, 2014, at 3 p.m. Québec time on the MDDELCC's web site: www.mddelcc.gouv.qc.ca/changements/carbone.

SOURCE AND INFORMATION:
Media Relations Ministère du Développement durable, de l'Environnement et de la Lutte contre les changements climatiques Tel.: [phone]

SOURCE: Ministère du Développement durable, de l'Environnement et de la Lutte contre les changements climatiques

Media Relations, Ministère du Développement durable, de l'Environnement et de la Lutte contre les changements climatiques, Tel.: [phone]