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Weekly Carbon Outlook – Oct 2, 2017

October 2, 2017 by Ronjoy Bezbarua

(See below to download report)

Trading Report

  • CCA prices rose on Tuesday and Wednesday before dipping, closing at $15.22 for the front (V17 Oct17) and $15.27 for the benchmark (V17 Dec17)
  • OCA Dec 17 benchmark prices rose to CAD 19.00 (USD 15.22)
  • OI saw a positive net change of 760,000 contracts
  • Weekly traded volumes stood at 3,353,000 tons
  • The front changed on 27th September from V17 Sep17 to V17 Oct17

Price Expectations

  • CCA prices expected to maintain neutral momentum; volumes on V17 to remain under 4 million tons.
  • Momentum to materialize at the end of October as auction anticipation begins
  • November auction impact to be felt during 2018 start

CCO Tracker

  • 14.45 million offset credits were approved by ARB last week
  • A very significant 14.1 million ARBOCs issued to Finite Carbon’s Colville IFM (ACR255) forestry project
  • The backlog of ROCs reduced to 31.6 million
  • CCO prices continued to rise throughout the week

Policy Tracker

  • 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. It got amended in Assembly on 11th Sep 2017
  • 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. It was passed in Senate on Sep 14 and enrolled on Sep 19th

Key Dates

  • Oct 4- Public workshop on the fiscal year 2017-18 funding plan for Clean Transportation Incentives

 

Download this report (pdf)

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