Weekly Carbon Outlook – May 15, 2017
May 15, 2017 by Ronjoy Bezbarua
(See below to download report)
- Trading activities maintained a respectable total of 9,303,000 tons in traded volume
- The CCA front price rose to USD 14.01 by the end of the week
- OCA’s Dec 17 benchmark trading at CA$ 19.24 (US$14.03), USD 0.14 below CCA equivalent
- California Chamber of Commerce now wants to work with lawmakers to extend the cap-and-trade program beyond 2020.
- A subscription ratio of over and above 0.78 is required to prevent quarterly shortage.
- Expected V17 ranges: $14.00- $14.10 (Front); $14.20- $14.28(2017 Benchmark)
- Over 40,000 new CCOs issued by ARB
- Yippee Farms (CAR1232) only new project to receive ARBOCs whilst three more livestock projects gain subsequent credits.
- Quebec hand out 21,800 offsets in first issuance in ten months.
- SB 775 continues to cast uncertainty over longer term prospects of Californian offsets.
- SB 775 – It would now no longer allow banking of allowances and use of offsets in the cap-and-trade program beyond 2020. It also prevents free allocation of allowances and thus incentivise industry to invest in cleaner technology.
- May 16 – WCI Joint Auction to offer years 2014 and 2017 vintage allowances in the Current Auction and year 2020 future vintage allowances in the Advance Auction.
- May 25 – ARB Public workshop meeting to consider California’s proposed state plan for the federal municipal solid waste landfill emission guidelines
Download this report (pdf)