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Bill to adjust Climate Commitment Act auctions and add market analysis draws mixed views on liquidity and timing
Summary
HB 1975 would change the Climate Commitment Act's auction mechanics to boost near‑term liquidity, cap price ceilings for 2026–27, and require additional economic modeling. Proponents say the bill reduces price spikes; Ecology cautioned about shifting allowances and potential delays in emissions reductions.
The Senate Environment, Energy & Technology Committee heard HB 1975, a measure that would amend the Climate Commitment Act's market design to add near‑term liquidity and require enhanced economic modeling by the Department of Ecology.
Staff explained core changes: the bill shifts some allowances from future years into the allowance price containment reserve (APCR) for earlier use, caps the auction price ceiling at $80 in 2026 and 2027 unless linkage requires otherwise, and mandates Ecology…
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