Weekly Carbon Outlook – Aug 28, 2017
August 28, 2017 by Ronjoy Bezbarua
(See below to download report)
- CCA prices rose significantly, closing at $15.16 for the front (Aug 17) and $15.28 for the benchmark (Dec 17)
- OCA Dec 17 benchmark prices rose to CAD 19.00 (USD 15.21)
- OI saw a positive net change of 674,000 contracts
- Volumes traded saw a minor decrease to 1 million tons
- CCAs price bounce back above USD 15 following the second fully subscribed auction of the year
- Cumulative Quarterly surplus stands at over 34 million
- Expected V17 ranges: $15.12- $15.20 (Front); $15.25- $15.33(2017 Benchmark)
- 695K ARBOCs issued by ARB in latest issuance
- Rotation of verifiers brings 1 million CCO-3s online
- The White Mountain Apache Tribe (ACR211) recipient of 288K offsets
- Registries issue 385K to a Blue Source Forestry project and Californian based Livestock project
- CCO prices rise in value in response to Tuesday’s positive auction results
- AB 398- (Garcia, De León) Extension of Cap-and-Trade from 2020 – 2030 with the introduction of a price ceiling, price containment points, reduced offset usage and revisions of industry assistance factors.
- SB 100- (Kevin de León) The California Renewables Portfolio Standard Program would double up California’s renewable energy ambition, mandating 100% RE procurement by 2045.
- SB 498- (Skinner) Beginning no later than 2024-2025 fiscal year, at least 50% of the light-duty vehicles purchased for the state vehicle fleet each year must be zero emission vehicles.
- Aug 31 –Public workshop to discuss proposed California adoption of Federal Greenhouse Gas (GHG) Emissions Standards for medium- and heavy-duty engines and vehicles
- Sep 06 – Ontario cap and trade auction of greenhouse gas allowances.
Download this report (pdf)