Weekly Carbon Outlook – Sep 11, 2017
September 11, 2017 by Ronjoy Bezbarua
(See below to download report)
- CCA prices dipped significantly, closing at $15.22 for the front (V17 Sep17) and $15.32 for the benchmark (V17 Dec17)
- OCA Dec 17 benchmark prices rose to CAD 18.57 (USD 15.31)
- OI saw a positive net change of 1,390,000 contracts
- Traded volumes decreased to 3,154,000 tons
- A resistance level near USD 15.30 seen materializing on the current front
- A rapid convergence towards the four week moving average for both current front and benchmark indicates trend reversal
- The backlog of ROCs stands at 41.25 million
- Western Rivers Conservancy gained over 9.8K ROCs through its Blue Creek (ACR282) Forestry (IFM) project
- Offset prices saw a rise in prices with CCO 8s and CCO 3s gaining the highest
- 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.
- Sep 13 –Results of 3rd auction of greenhouse gas allowances for the Ontario cap and trade market.
Download this report (pdf)