Weekly Carbon Outlook – June 12, 2017
June 12, 2017 by Billy Hamshaw
(See below to download report)
- Brown signs subnational commitments with Chinese provinces
- CARB release 2015 emission data
- 4,453,000 tons traded with 80% concentrated on V2017
- Current front contract, Jun 17, closed week at USD 14.06, USD 0.04 down from previous week’s close
- A net change of 5,642,000 observed on open interest creation
- OCA remains stagnant with little trade ahead of auction results
- California senate struggles to extend the cap-and-trade program beyond 2020
- A fully subscribed second auction in Ontario will bring its cumulative surplus to 0.6 million of allowances.
- Expected V17 ranges: $14.10- $14.18 (Front); $14.25- $14.233 (2017 Benchmark)
- Chugarch Alaska Forest Carbon Project (CAR1264) commits 117,000 acres of Native land to forest conservation in Alaska
- Fresh ROCs issued to single ODS and Livestock projects
- SB 100 – Introduced by Senate President Pro Tem Kevin de León, it requires California to generate all its electricity from renewable.
- SB 775 – It would now no longer allow banking of allowances and use of offsets in the cap-and-trade program beyond 2020. It also prevents free allocation of allowances and thus incentivise industry to invest in cleaner technology.
- June 13 – Results report of Ontario cap-and-trade auction 2 for greenhouse gas allowances
Download this report (pdf)