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6th Cap & Trade Auction Complete
According to the State Legislative Analyst's Office (LAO), between November 2012 and November 2013, the five previous Cap & Trade auctions generated a total of about $532 million in State revenue.
The most current auction adds about $130M to the State’s Green House Gas (GHG) funds – bringing the total of all six auctions for the State to just over $690M. The most recent auction results also highlights 2014 vintage allowances consigned to Investor Owned Utilities (IOUs) at a value of $175M, and Publicly Owned Utilities (POUs) consigned allowance value of almost $24M.
If each of the upcoming quarterly auctions generates State revenue near $100M, the GHG reduction fund may reach $900M this summer (by the 8th quarterly auction). In his FY 2014/15 State budget the Governor has proposed the allocation of approximately $850M from Cap & Trade revenues to go toward a number of programs to reduce GHGs further, the reduction programs may include:
• High Speed Rail, Planning, land acquisition & construction $250M
• ARB Low-emission vehicle rebates $200M
• Strategic growth council $100M
• Energy Efficiency Upgrades $100M
• Water Efficiency $ 20M
• Food & Ag $ 20M
• Cal-Trans $ 50M
• Other (Fire/Forestry, Cal-Recycle) $110M
More information on the Cap & Trade Auction results can be found at