Washington state’s new cap-and-invest system is raising hundreds of millions of dollars for climate action while pricing emissions at a much steeper cost than California, the only other state with this kind of system. Climate hawks are thrilled that — after years of failed proposals — the Evergreen State has a path to meet the […]
News Stories
Washington’s carbon fee rises, trips emergency valve to hold down costs
Washington’s carbon fee rose by 15% at the state’s second cap-and-trade auction, the Department of Ecology reported Wednesday, and is high enough to turn on an emergency valve to contain energy costs. Energy companies and investors bought nearly 8.6 million allowances for $56 apiece at the May 31 auction. The price exceeded the $51.90 threshold […]
Washington’s carbon fee rises, trips emergency valve to hold down costs
Washington’s carbon fee rose by 15% at the state’s second cap-and-trade auction, the Department of Ecology reported Wednesday, and is high enough to turn on an emergency valve to contain energy costs. Energy companies and investors bought nearly 8.6 million allowances for $56 apiece at the May 31 auction. The price exceeded the $51.90 threshold […]
Tribes ramp up pressure on WA over gas prices as climate laws’ effects take hold
LUMMI RESERVATION — Leaders from at least a dozen Washington tribes may soon meet with Gov. Jay Inslee’s administration to raise concerns and ask questions about the effects of the state’s new carbon-cap system on gas prices and tribal sovereignty. Some say they’re taken aback by how much the system seems to be driving up […]
Washington farmers fume over fuel surcharge
MOUNT VERNON, Wash. — Washington farmers are frustrated over a fuel surcharge they say they shouldn’t be paying. In 2021, lawmakers passed the Climate Commitment Act, which is designed to drastically cut greenhouse emissions through a carbon capturing plan. One key reason the Climate Commitment Act was made into law was that it exempts farms […]
Ecology Dept. confirms Washington’s first emissions auction raised just under $300M
(The Center Square) – Washington state’s inaugural auction of emissions allowances under the cap-and-trade program established by the Climate Commitment Act brought in just under $300 million, according to a Monday report from the state Department of Ecology. … Per the Climate Commitment Act passed by the state Legislature and signed into law by Gov. […]
Bid fails to refund cap-and-trade surcharges to Washington farmers
OLYMPIA — The Senate budget committee Monday rejected a Republican proposal to set aside $32 million to reimburse farmers paying cap-and-trade surcharges on fuel used to transport agricultural products. Sen. Mark Schoesler, R-Ritzville, said the Inslee administration has failed to keep cap-and-trade from raising farming costs, as was promised in the Climate Commitment Act passed […]
State eyes $300M haul from first-ever carbon emission auction
OLYMPIA — The state’s first-ever auction of pollution allowances generated roughly $300 million for programs to reduce greenhouse gas emissions and combat the effects of climate change in Washington. … The 2021 Climate Commitment Act created a cap-and-trade program aimed at getting the state’s largest polluters to reduce emissions. Under the program, the state places […]
WA’s first greenhouse-gas-allowance auction raises estimated $300 million
Washington’s first auction of greenhouse-gas pollution allowances raised an estimated $300 million in a closely watched sale as companies, consumers and the Legislature get their first glimpse of the cost of emitting in the state. The Department of Ecology announced Tuesday it had sold all of its almost 6.2 million allowances, each representing one metric […]
No relief in sight from cap-and-trade for Washington farmers
OLYMPIA — Talks between the Washington Department of Ecology, farm groups and fuel producers and distributors have been fruitless, leaving farmers overpaying for fuel because of the state’s recently enacted cap-and-trade law. Cap-and-trade costs are being passed down to farmers, even though lawmakers exempted from the program fuel used to produce and transport farm goods. […]