September Cap-and-Invest auction results announced

On Wednesday, the Washington Department of Ecology released the results of the 11th quarterly Cap-and-Invest auction. Ecology Director Casey Sixkiller issued the following statement:  

“Today’s auction results underscore the confidence that businesses and investors have in Washington’s market and our commitment to bold climate action,” Sixkiller said. “The Cap-and-Invest Program is here to stay, and businesses are making long-term investments that will assist in decarbonizing their operations.” 

In the quarterly auction, held Sept. 3, all 6,937,001 allowances available sold at a settlement price of $64.30. The auction raised an estimated $446 million - $295 million for the state and $151 million for the benefit of utility ratepayers. This brings the total state proceeds to $3.483 billion since the Cap-and-Invest Program started in January 2023.  

Upcoming auctions 

On Oct. 1, Ecology will hold a regularly scheduled auction of allowances from the price containment reserve account, giving businesses an opportunity to make up any allowance shortage in their accounts ahead of the Nov. 1 compliance deadline.  

A second reserve auction will follow on Nov. 12, based on the September quarterly auction’s settlement price. Allowance prices in both auctions will be fixed at $60.43 per allowance. 

The final quarterly auction of 2025 will be held Dec. 3.