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Briefing
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- Reformed Cap-and-Trade System – Senate introduced new bill that proposes new and more comprehensive cap-and-trade system to replace current one expiring in 2020
- New System Details – Include price collar that provides floor ($20) and ceiling prices ($30), with both prices starting low and rising with predictable increments in perpetuity, border-adjustment tax on imports based on carbon intensity, and zero carbon offsets
- Old System Issue – Price of carbon allowances under current system got as low as $12 a ton as regulations, such as carbon fuel and renewable energy portfolio standards, became very effective in driving carbon reductions
- Linked Carbon Trading System – Under proposed new system, California will no longer link carbon market with systems from other states or cities, unless their minimum carbon price is equal to or greater than California, jeopardizing current and planned links to other West Coast states as well as Ontario and Quebec
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Accelerator
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Market Disruption
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Organization
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U.S. Senate
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Source
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Original Publication Date
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May 3, 2017
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