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Reactions to Ontario’s swift exit from WCI, cap-and-trade

Published 23:35 on June 18, 2018  /  Last updated at 23:19 on June 19, 2018  /  Americas, Canada, US  /  No Comments

Market participants and other experts are closely watching what Ontario Premier-designate Doug Ford’s next steps will be in dismantling the province’s cap-and-trade scheme, especially after his decision to abruptly pull the plug on the programme was met with a trading ban by WCI partners California and Quebec.

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Ontario firms should “take appropriate action” regarding carbon trading restrictions -ICE

Published 19:52 on June 18, 2018  /  Last updated at 20:32 on June 18, 2018  /  Americas, Canada, US  /  No Comments

Entities regulated under Ontario’s cap-and-trade scheme that suddenly face new trading restrictions due to the province’s pending exit of the WCI programme have been advised by North America’s main emissions exchange to “take appropriate action” to honour or exit their existing obligations.

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California, Quebec entities blocked from trading with Ontario following WCI exit announcement

Published 13:55 on June 16, 2018  /  Last updated at 20:03 on June 16, 2018  /  Americas, Canada, US  /  No Comments

WCI’s market operators have blocked participants in California and Quebec from trading allowances with Ontario entities following Premier-designate Doug Ford’s decision to abruptly scrap Ontario’s cap-and-trade scheme and leave the North American programme.

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Massachusetts Senate passes extensive carbon pricing, clean energy bill

Published 23:36 on June 15, 2018  /  Last updated at 10:01 on June 18, 2018  /  Americas, Carbon Taxes, US  /  No Comments

The Massachusetts Senate unanimously approved an omnibus clean energy bill on Thursday night that provides for the creation of a market-based mechanism for economy-wide carbon pricing and several other renewable energy goals.

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Ontario to abstain from August WCI auction as new Premier Ford announces end of carbon market

Published 16:24 on June 15, 2018  /  Last updated at 12:38 on June 16, 2018  /  Americas, Canada, US  /  No Comments

Ontario will not participate in the next quarterly WCI auction in August after its new premier announced that his government’s first act will be to scrap the provincial cap-and-trade scheme.

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RGGI auction clears above secondary market as compliance entities shy away

Published 15:16 on June 15, 2018  /  Last updated at 11:55 on June 16, 2018  /  Americas, US  /  No Comments

This week’s quarterly RGGI auction settled slightly above the secondary market at $4.02/short ton, the market’s operator announced Friday, while compliance buying dropped significantly from the previous sale in March.

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NA Markets: California trade thins as RGGI auction results due

Published 00:39 on June 15, 2018  /  Last updated at 00:39 on June 15, 2018  /  Americas, Canada, US  /  No Comments

California carbon allowances (CCAs) began to recover this week after last week’s Progressive Conservative victory in Ontario sent prices downward, while on the east coast some atypical trading activity took place in the short interim between Wednesday’s RGGI auction and Friday’s result publication.

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Quick Ontario exit from WCI could exacerbate future auctions, pressure sell-off

Published 00:31 on June 15, 2018  /  Last updated at 00:31 on June 15, 2018  /  Americas, Canada, US  /  No Comments

The prospect of a quick Ontario exit from the tripartite WCI cap-and-trade market could prove a headache for participants and stakeholders on both the primary and secondary markets, according to analysts speaking at a webinar on Thursday.

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California’s ARB awards nearly 790k offsets in latest issuance

Published 22:38 on June 13, 2018  /  Last updated at 23:09 on June 13, 2018  /  Americas, Canada, US, Voluntary Market  /  No Comments

California regulator ARB handed out just shy of 790,000 carbon offsets across three different project types this week, as compliance demand helps boost prices.

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Low abatement, high costs to characterise future of cap-and-trade in Ontario and Quebec, study warns

Published 20:56 on June 13, 2018  /  Last updated at 20:56 on June 13, 2018  /  Americas, Canada, US  /  No Comments

Achieving emissions reductions in line with Ontario and Quebec’s climate goals will not occur under forecast WCI carbon prices, though it will see billions of dollars sent to California or elsewhere by the two provinces, according to a study released Wednesday.

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