California and Quebec will auction 77.75 million CO2 allowances on May 18 in the WCI’s seventh joint auction, the market regulators have announced.
Market participants will be offered the chance to bid for nearly 68.7 million vintage 2016 allowances, with the reserve price set at $12.73/C$12.82, according to the regulators’ announcement.
In addition, some 10.1 million vintage 2019 contracts will be offered to the market at the same floor price.
The auction will take place from 1000 Pacific Time (PT)/1300 Eastern Time (ET) until 1300 PT/1600 ET.
Results will be announced on May 25.
In the previous auction, held in February, bidders picked up 77.39 million of the 81.63 million on offer, all at the floor price.