Weekly Carbon Outlook – Sep 5, 2017
September 5, 2017 by Ronjoy Bezbarua
(See below to download 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
- 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)
- 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
- 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 06 – Ontario cap and trade auction of greenhouse gas allowances.
Download this report (pdf)