Calif. firms fighting emission auctions
Nov 26, 2012 | 09:09 AM
| Frank Haflich
Tags
cap-and-trade auction,
emissions,
USS-Posco,
California Steel Industries,
California Chamber of Commerce,
California Metal-X,
Tim Strelitz,
James Simonelli
California Metals Coalition
LOS ANGELES — Corporations in California are challenging the state’s 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 state’s first cap-and-trade auction for carbon dioxide emissions earlier this month, arguing that the California Environmental Protection Agency’s 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 weren’t identified for "proprietary and business-sensitive" reasons, the spokesman said. ....
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