Calif. firms fighting emission auctions
Nov 26, 2012 | 09:09 AM
| Frank Haflich
LOS ANGELES Corporations in California are challenging the states greenhouse gas cap-and-trade auctions.
The California Chamber of Commerce said it has filed a lawsuit in state superior court seeking to invalidate the states first cap-and-trade auction for carbon dioxide emissions earlier this month, arguing that the California Environmental Protection Agencys Air Resources Board (ARB) exceeded the authority it was granted under greenhouse gas legislation passed in 2006.
An ARB spokesman in Sacramento said the agency is confident its cap-and-trade program "will withstand any legal challenge."
The auctions are due to take place every three months. The first auction resulted in an average price of $10.09 per tonne, slightly more than the $10-per-ton minimum set by the ARB. The individual companies participating in the auction werent identified for "proprietary and business-sensitive" reasons, the spokesman said. ....
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