Element Markets, LLC participated in the inaugural California cap-and-trade auction today.

California, which regulates emissions from the power and industrial sector, sold 23.1m allowances at a $10.09 settlement price, which was slightly above the $10.00 floor price. The program also sold 5.6m future vintage allowances for $10.00.

Element Markets was one of 73 qualified bidders who participated in the first auction.

“As in RGGI four years ago, Element Markets recognizes the important step California is taking with this program,” Randall Lack, Chief Marketing Officer said. “Element Markets looks forward to helping individuals navigate these complex markets while also lowering emissions inside the state.”

California is hoping to reduce statewide emissions to 1990 levels by 2020. The program will expand in 2015 to include transportation and natural gas fuel suppliers.

About Element Markets, LLC

Element Markets is a leading renewable natural gas marketing and environmental commodities company that applies its diverse expertise to provide structured environmental compliance and optimization services to prominent corporate and institutional clients. The company has a long history within the emissions, carbon, renewable energy credit, biogas and renewable fuel credit markets. The company has twice been named as the “Emissions House of the Year” by Energy Risk Magazine. Element Markets is headquartered in Houston, Texas and more information about the company is available at www.elementmarkets.com.