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Weekly Carbon Outlook – Jan 9, 2017

January 9, 2017 by Harry Horner

[Download link at the bottom of this post]

Trading Report

  • Prices leap $0.19 in first week’s trading, front closes at $13.13
  • Volumes hold steady totaling 5,654,000
  • Open Interest rises by 1,895,000

Price Expectations

  • Buyer’s look to transact where possible well the new floor
  • Market behavior demonstrates acquired experience of sub-floor trading
  • Expected V16 ranges: $13.11 – $13.20 (Front); $13.44 – $13.52 (2017 Benchmark)

CCO Tracker

  • 858k ROCs awarded in past week
  • 5 forestry projects account for 842k new ROCs
  • Subsequent reporting periods for Sierra Pacific Industries’ gain credits
  • State of Texas clocks second credited project on WCI
  • 2 new verification appointments for SCS Engineers and GHD Services 

Policy Tracker

  • Legislature reconvened on Wednesday, Jan 4
  • Budget Bill to be submitted to Governor on Jan 10.

Key Dates

  • Jan 18 – EJAC meeting
  • Jan 24 – Hearing of CCC vs ARB case

Download this Report (pdf)

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