Weekly Carbon Outlook – June 19, 2017
June 19, 2017 by Ronjoy Bezbarua
(See below to download report)
- Industry leaders signal support towards cap-and-trade extension to 2030
- 5,711,000 tons traded with 64.3% concentrated on V2017 and 35.37%on V2018
- Current front contract, Jun 17, closed week at USD 14.15, USD 0.09 up from previous week’s close
- A net change of 2,706,000 observed on open interest creation
- OCA prices close at CAD 18.96 (USD14.33)
- The CCA market witnessed an increase in trading activities in V2018, as participants started preparing for next year’s compliance obligation
- A fully subscribed second auction in Ontario has brought its cumulative surplus to 0.6 million of allowances.
- Expected V17 ranges: $14.12- $14.20 (Front); $14.28- $14.36 (2017 Benchmark)
- 5 million CCOs issued in year’s second largest batch
- Passamaqouddy Tribe IFM (CAR1175) handed a further 2.6 million offsets
- CCOs available for compliance rises to 37.5 million
- Prices remain stable across CCO instruments
- 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 22 – Public Meeting to Hear the 2017 Progress Report on the Low Carbon Fuel Standard
Download this report (pdf)