Guangzhou Emission Exchange sells 68,374 PHCERs at two auctions

November 28, 2018 – Guangzhou Emission Exchange announced in November the sale of combined 68,374 Pu Hui Certified Emission Reduction (PHCER) credits in two auction rounds.

In the first auction on November 16, the state-owned enterprise China Southern Power Grid Co., Ltd. sold 26,815 credits of the provincial offset mechanism. The credits have been obtained through five solar PV projects of the company. With a floor price of 16.99 CNY, the credits were sold at 23.88 CNY eventually. Five companies participated in the auction and one bidder bought the entire credits.

In the second auction on November 26, another state-owned enterprise Xinfengjiang sold 41,559 PHCERs that have been achieved through carbon-saving projects. The floor price was set at 12.32 CNY and the final transaction price was 23.99 CNY.

The credits being sold have already been issued before the Guangdong government announced in August that that it will until further notice not issue new credits of its provincial offset mechanism.

Sources: (Chinese) (Chinese)