Weekly Carbon Outlook – Sep 25, 2017

September 25, 2017 by Ronjoy Bezbarua

(See below to download report)

Trading Report

  • CCA prices dipped on Tuesday and Wednesday before rebounding, closing at $15.20 for the front (V17 Sep17) and $15.28 for the benchmark (V17 Dec17)
  • OCA Dec 17 benchmark prices rose to CAD 18.77 (USD 15.24)
  • OI saw a positive net change of 2,783,000 contracts
  • Weekly traded volumes stood at 6,741,000 tons

Price Expectations

  • Positive and negative price movements cancel each other to give stable momentum
  • CCA expected to trade in a range of USD 15.08 to USD 15.30

CCO Tracker

  • 5.1 million ROCs issued to White Mountain Apache Tribe Carbon Project II (ACR303) last week for which Spatial Informatics Group (SIG) is the project developer.
  • A combined 260K ROCs issued to two Mine Methane projects and over 55K credits issued to an ODS project
  • The backlog of ROCs now stands at an all-time high of 46.1 million
  • CCO prices rose throughout the week despite a decline in CCA prices

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. I got amended in Assembly on 5th Sept to include heavy duty ZEVs.
  • 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.

Key Dates

  • Sep 28- Public hearing to hear an update on the development of the San Joaquin Valley State Implementation Plan
  • Oct 4- Public workshop on the fiscal year 2017-18 funding plan for Clean Transportation Incentives


Download this report (pdf)

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