This page last reviewed August 21, 2014

Auction and Reserve Sale Information

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Archived Information and Results

Archived Auction Information and Results

Archived Reserve Sale Information and Results

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Background

Greenhouse Gas Allowance Auctions

As part of the Cap-and-Trade Program, the California Air Resources Board (ARB) will hold quarterly auctions each year: in February, May, August, and November.  During each auction, the State of California will offer current vintage year allowances for sale in the Current Auction and future vintage year allowances for sale in the Advance Auction.

This web page will be updated with auction notices for each auction at 12:00 PM Pacific Time (PT), sixty (60) days prior to each auction.  If the date for posting an auction notice falls on a weekend or holiday, the notice will be posted no later than the next business day.  The Auction Notice provides information about eligibility, auction format, and greenhouse gas (GHG) allowances to be auctioned.

Greenhouse Gas Allowance Price Containment Reserve Sales

As part of the Cap-and-Trade Program, California will hold quarterly sales of allowances from the Allowance Price Containment Reserve (reserve sale).  Pursuant to the Regulation, reserve sales will be conducted on the first business day six weeks after each quarterly GHG allowance auction.  California’s reserve sales will offer GHG allowances from the Allowance Price Containment Reserve (APCR) for sale in three fixed-price, equal-sized tiers.

This web page will be updated with reserve sale notices for each reserve sale at 12:00 PM PT, approximately thirty (30) days prior to each reserve sale.  If the date for posting a reserve sale notice falls on a weekend or holiday, the notice will be posted no later than the next business day.  The Reserve Sale Notice provides information about eligibility, reserve sale format, and APCR allowances offered for sale.

Auction and Reserve Sale Results

This webpage will be updated with public notices of auction and reserve sale results at the date and time listed in the Auction or Reserve Sale Notice posted prior to the auction or reserve sale.  If there is a delay or change to a posting date, ARB will issue a notice of the change.

Auction and Reserve Sale Schedule

The California Cap-and-Trade Program Auction and Reserve Sale Activities Summary of Expected Dates includes the expected auction and reserve sale dates for 2014.

Auction Guidance Documents

Guidance for Allowances Consignment to Auction

Each calendar year, an electrical distribution utility (EDU) must offer for sale at auction all allowances that have been placed in the Limited Use Holding Account (LUHA) that were issued from the budget year that corresponds to the current calendar year.  Additional information on allowance consignment requirements, consignment transfers in the Compliance Instrument Tracking System Service (CITSS), and auction consignment and participation is available.

Auction and Reserve Sale Contact Information

Auction Platform

ARB has contracted with Markit North America, Inc. to act as the Auction and Reserve Sale Administrator (Auction Administrator).  If you have specific questions regarding the Auction Platform, please contact the Auction Administrator Support at (877) 762-7548, or by email at auctionsupport@markit.com.

Financial Services

ARB has contracted with Deutsche Bank National Trust Company Americas to act as the Financial Services Administrator for Auctions and Reserve Sales (Financial Services Administrator).  If you have specific questions regarding submitting a bid guarantee or financial settlement, please contact Deutsche Bank at (212) 250-6645, or by email at CAARB.inbox@db.com.

ARB Program Staff

For questions or comments regarding auctions or reserve sales, please contact Chuck Seidler at (916) 324-0931, or cseidler@arb.ca.gov, or Ashley Dunn at (916) 322-7156, or adunn@arb.ca.gov.

Quarterly Allowance Auctions

August 18, 2014 Auction

The August 2014 auction was held on Monday, August 18, 2014, from 10:00 AM to 1:00 PM (PT).

Auction Date Auction Materials Auction Results
Auction 8 
August 18, 2014


10:00 AM to
1:00 PM (PT)

Auction Participant Training Presentations

An auction participant training presentation will be posted the morning the auction bidders' conference and participant training webinar is held as listed in the Auction Schedule provided in the Auction Notice.  The presentation provides information regarding the auction format and application process, procedures, and requirements, as well as how to apply for an auction and submit bids in the Auction Platform.  The presentation also provides information on how to submit a bid guarantee.


Auction Bid Advisor Form

Section 95914 of the Cap-and-Trade Regulation (Regulation) requires that any entity participating in an auction that has retained the services of a Cap-and-Trade Consultant or Advisor regarding auction bidding strategy must ensure the following:

  • The entity must ensure against the Consultant or Advisor transferring information to other auction participants or coordinating the bidding strategy among participants;

  • The entity will inform the Consultant or Advisor of the prohibition of sharing information to other auction participants and ensure the Consultant or Advisor has read and acknowledged the prohibition under penalty of perjury; and

  • The Consultant or Advisor must provide the Executive Officer the following information:

    • Names of the entities participating in the Cap-and-Trade Program that are being advised;

    • Description of advisory services being performed; and

    • Assurance under penalty of perjury that advisor is not transferring to or otherwise sharing information with other auction participants.

The Consultant or Advisor providing services related to bid strategy must submit this information on the Auction Bid Advisor Form to ARB at the address on the form no later than fifteen (15) days prior to the next quarterly auction at which the Consultant or Advisor’s services will be employed.


Annual Auction Reserve Price

2014 Auction Reserve Price ($11.34)

The Auction Reserve Price is a predetermined minimum price at which allowances will be sold to auction participants.

The 2014 Annual Auction Reserve Price Notice specifies the 2014 Auction Reserve Price and the number of allowances to be auctioned in the Current Auctions and Advance Auctions conducted in 2014.

Prior Annual Reserve Price Notices


Reserve Sales

Upcoming October 1, 2014 Reserve Sale

Reserve Sale Date Reserve Sale Materials Reserve Sale Results
Reserve Sale 7 –
October 1, 2014


10:00 AM to
1:00 PM (PT)
The October 2014 Reserve Sale Notice will be posted at 12:00 (noon) Pacific Time on Tuesday, September 2, 2014.

Reserve Sale Participant Training Presentations

A reserve sale participant training presentation will be posted with each Reserve Sale Notice.  The presentation provides information regarding the reserve sale format and application process, procedures, and requirements, as well as how to apply for a reserve sale and submit bids in the Auction Platform.  The presentation also provides information on how to submit a bid guarantee.


For questions or comments, please contact Chuck Seidler at (916) 324-0931

 
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