The Sept. 3 auction sold its nearly 6.4 million allowances at a settlement price of $64.30, raising an estimated $446 million: $295 million for the state and $151 million for the benefit of utility ratepayers.
“Today’s auction results underscore the confidence that businesses and investors have in Washington’s market and our commitment to bold climate action,” Department of Ecology Director Casey Sixkiller said in a news release. “The Cap-and-Invest Program is here to stay, and businesses are making long-term investments that will assist in decarbonizing their operations.”
Since the cap-and-trade program, as it is also known, started in January 2023, Washington’s carbon auctions have generated nearly $3.5 billion in revenue.
