December 6, 2013 / 6:52 PM / in 4 years

CORRECTED-Quebec sells over 2.7 mln carbon-emission permits at C$10.75 a tonne

(Corrects day of auction in paragraph two to Tuesday from Wednesday)

WASHINGTON, Dec 6 (Reuters) - Permits to emit greenhouse gases in Quebec sold for C$10.75 per tonne, the minimum bid price, at the Canadian province’s first auction.

Nineteen companies participated in the auction on Tuesday, according to a statement from the Quebec government on Friday.

Auction participants bought 1.025 million permits for the right to emit a tonne of carbon dioxide-equivalent in 2013, out of 2.97 million permits offered.

Participants also bought 1.7 million out of 6.31 million permits for the right to emit one tonne of carbon dioxide-equivalent in 2016 at the minimum bid clearing price of C$10.75.

The bidders included ArcelorMittal Montreal, Transcanada Energy, HydroQuebec and Glencore Canada.

Quebec plans to link its carbon market with California’s year-old cap-and-trade system in January 2014. The two jurisdictions will hold joint auctions later in 2014.

C$1 = US$0.94 Reporting by Valerie Volcovici; Editing by Bernadette Baum

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