Washington's Nov. 8 cap-and-trade auction cleared all 5 million carbon emissions allowances put up for bid at a Tier 1 price of $51.90 the state's Ecology Department said. 

Allowance prices continued to rise after the state’s latest cap-and-trade auction cleared at $63.03, up nearly 13% from the previous auction.

Washington’s first cap-and-trade auction from the program’s Allowance Price Containment Reserve raised almost $62.5 million, the Ecology Department said.

Initial prices for Washington cap-and-trade emissions allowances will depend on whether the state joins the Western Climate Initiative, according to new analysis.