Daily GPI / Regulatory / NGI All News Access

Briefs -- California Cap-and-Trade | Calpine Corp.

December 15, 2017
/ Print
| Share More
/ Text Size+

The California Legislative Analyst's Officeis predicting that annual revenues from the state's cap-and-trade emissions trading system could increase to $7 billion from $2 billion over the next 12 years, with estimated revenues of $2-4 billion in 2018. The program was extended to 2030 and has been the subject of speculation about how much theprices for carbon emissions allowances may rise. While analyzing a variety of issues left to the California Air Resources Board (CARB), future prices are "highly uncertain,” said the analysis. The report said a wide variety of factors contribute to the uncertainty, including future macroeconomic conditions and technological advances; future greenhouse gas reduction policies; and how CARB handles various design decisions for the program.

Calpine Corp.shareholders have approved the $5.6 billion acquisition by Energy Capital Partners (ECP) and a consortium of investors and is expected to be completed in 1Q2018. Calpine is being acquired for $15.25/share, a 51% premium over the share price when the transaction was announced in May. San Diego-based ECP's consortium is led by Access Industries and the Canada Pension Plan Investment Board. Calpine plans to maintain its Houston headquarters and current management team.

Recent Articles by NGI Staff Reports

Comments powered by Disqus