Pre-compliance auction results announced
On Wednesday, the Washington Department of Ecology released the results of the state’s pre-compliance Allowance Price Containment Reserve (APCR) auction. Ecology Director Casey Sixkiller issued the following statement:
“The auction results show the market’s confidence in the endurance of our flagship climate policy,” Sixkiller said. “State leadership on climate has never been more important than now, and Washington is committed to cutting carbon pollution and protecting communities from the threat of climate change.”
Ecology hosted a pre-compliance auction on Oct. 1 ahead of the Cap-and-Invest Program’s annual compliance deadline on Nov. 1. Businesses and organizations that are covered under the Cap-and-Invest Program need to submit allowances for 30% of their 2024 emissions by that deadline.
A total of 3,641,333 APCR allowances were offered in the Oct. 1 auction, and all were sold at the pre-established APCR price of $60.43. The auction raised a total of $220,045,753.19 for the state. Unlike quarterly auctions, these pre-compliance auctions offer allowances from the Allowance Price Containment Reserve (APCR), which are only available to covered entities at a fixed price, and cannot be traded between entities.
Upcoming auctions
A reserve auction will be held on Nov. 12, based on the September quarterly auction’s settlement price.
The final quarterly auction of 2025 will be held Dec. 3.
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