Washington’s major polluters are facing such high costs to comply with the state’s ambitious mandates for cutting carbon emissions that state officials are considering softening compliance deadlines.
At a quarterly state auction last week, the price of pollution allowances hit a record high $70.86 — a 75 percent increase from the auction price one year ago.
Washington requires polluters to pay the state allowances as compensation for their emissions.
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But as Washington demands steeper emissions cuts, it is limiting the supply of allowances, which is driving up the price.
