ICE launches California carbon allowance contract
IntercontinentalExchange (ICE) has launched the first trade of the California carbon allowance forward contract based on California's new cap and trade program. The transaction includes 100 contracts, representing 100,000 vintage 2013 California carbon allowances which will be delivered in December 2013, at a price of $17.00 per allowance. The terms for the first trade were agreed between NRG Power Marketing and Shell Energy North America on 10 August 2011. Shell Energy vice president environmental products Tom Ingwers said that the contract will help provide some liquidity to the nascent California carbon markets. "Added liquidity will enable entities across the state to utilize a methodical, measured approach in managing their emission reduction goals, schedule and associated costs," Ingwers said.
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