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Weekly Carbon Outlook – Feb 13, 2017

February 13, 2017 by Billy Hamshaw

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Trading Report

  • Front Prices close at $13.53, close to the auction reserve price of $13.57
  • Trading was concentrated around V2017, with 99% of the weekly traded volume
  • OCA’s current year benchmark trading at $13.93, a premium of $0.19 over CCA’s

Price Expectations

  • Lower funding rate encourages participants to carry-trade
  • Law makers not yet ready to commit to the extension of cap-and-trade program through 2030.
  • Expected V17 ranges: $13.50 – $13.55 (Front); $13.72 – $13.75(2017 Benchmark)

CCO Tracker

  • Over 157,000 ARBOCs issued in highest issuance of 2017
  • Lukens Avoided Conversion Project (ACR265) picks up 59,877 credits
  • 97,813 CCOs issued to Tradewater ODS 3 (ACR359)
  • Agri-Waste Technology assigned as verifiers of Grotegut Dairy Farm (CAR1135)
  • S&A Carbon will verify Clifton Farm IFM (CAR1160)
  • CCO-3 prices up by 1.5%

Policy Tracker

  • Lawmakers announce AB 378, a new measure to address climate change with an increased focus on finding ways to help communities harmed by pollution and poverty.

Key Dates

  • Feb 15 – Joint California Air Resources Board and EJAC Meeting to discuss EJAC recommendations and options for addressing them
  • Feb 22 – WCI Joint Auction 10

Download the report (pdf)

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