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Weekly Carbon Outlook – Sep 5, 2017

September 5, 2017 by Ronjoy Bezbarua

(See below to download report)

Trading Report

  • CCA prices rose significantly, closing at $15.32 for the front (V17 Sep17) and $15.42 for the benchmark (V17 Dec17)
  • OCA Dec 17 benchmark prices rose to CAD 19.25 (USD 15.54)
  • OI saw a positive net change of 2,656,000 contracts
  • Traded volumes increased significantly to 7.4 million tons

Price Expectations

  • CCAs prices registered a high of USD 15.32 for the current front
  • A divergence from the four week moving average for both current front and benchmark indicates a bullish trend for the next few weeks.
  • Expected V17 ranges: $15.28- $15.35 (Front); $15.35- $15.43(2017 Benchmark)

CCO Tracker

  • The backlog of ROCs rose up to 41.24 million
  • Solar & Renewables Management, LLC gained over 16K ROCs through its Stotz Southern Generation (CAR1078) Livestock project
  • CSE Operating I, LLC accrued over 14.5K ROCs through its CSE Arizona Facility (CAR1076)Livestock project
  • Low risk golden CCO prices register a rise while CCO 3 and CCO 8 prices saw minor price dips

Policy Tracker

  • 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.

Key Dates

  • Sep 06 – Ontario cap and trade auction of greenhouse gas allowances.

 

Download this report (pdf)

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