Utility RWE reports 30% drop in H1 thermal power output while advancing hedging

Published 12:12 on August 13, 2020  /  Last updated at 18:31 on August 13, 2020  /  EMEA, EU ETS  /  No Comments

Germany-based utility RWE saw its ETS-covered thermal output drop by almost a third in H1, it said in quarterly financial results on Thursday, matching an EU-wide trend of big-emitting generators bearing the brunt of the coronavirus-linked demand drop. Read More

Spain confirms closure of additional 1.2 GW of coal capacity through 2022

Published 18:56 on August 13, 2020  /  Last updated at 18:56 on August 13, 2020  /  EMEA, EU ETS  /  No Comments

The Spanish government approved on Thursday the closure of three coal-fired power plants through 2022, slashing further the country’s coal capacity that has been in steady decline over recent months. Read More

EU Market: EUAs lose further ground below €26 as autumn auction hike stokes concern

Published 19:42 on August 13, 2020  /  Last updated at 19:42 on August 13, 2020  /  EMEA, EU ETS  /  No Comments

EUAs lost 2% on Thursday amid technical weakness and fading oil and equities, as concerns mounted about carbon's lack of resilience ahead of full-sized sales resuming in earnest over the autumn. Read More

Data shows big drop in NZ emitters using fixed price option for ETS compliance

Published 10:15 on August 13, 2020  /  Last updated at 10:15 on August 13, 2020  /  Asia Pacific, New Zealand  /  No Comments

New Zealand ETS participants used the NZ$25 fixed price option to meet around 21% of their total compliance obligations for 2019, EPA data showed Thursday, down from 51% the previous year, indicating a drop in surplus allowances carried into the next year. Read More

Shanghai opens annual CO2 auction to non-ETS participants

Published 10:24 on August 13, 2020  /  Last updated at 10:52 on August 13, 2020  /  China, China's Pilot Markets  /  No Comments

The Shanghai municipal government will auction 2 million allowances for its emissions trading scheme before the end of the month, allowing speculators to participate for the first time after dismal sales to compliance entities in previous years. Read More

Global coal power generation drops 8.3% in H1 as renewables advance -analysts

Published 00:01 on August 13, 2020  /  Last updated at 22:06 on August 12, 2020  /  Americas, Asia Pacific, China, EMEA, EU ETS, International, US  /  No Comments

Global coal power generation plummeted by 8.3% year-on-year in the first half of 2020 due to lower electricity demand and a rise in wind and solar generation, a study released on Thursday found. Read More

Wisconsin agency says waste facility caused violations at ARB-registered offset project

Published 22:54 on August 12, 2020  /  Last updated at 00:52 on August 13, 2020  /  Americas, Canada, US  /  No Comments

A Wisconsin environmental agency concluded that violations at a dairy farm stemmed from a waste storage facility, rejecting the California-registered offset project owner’s assertions that a feed storage area led to the elevated ammonia levels, documents show. Read More

California dishes out over 900k offsets as ARB tags more DEBs credits

Published 22:46 on August 12, 2020  /  Last updated at 22:53 on August 12, 2020  /  Americas, Aviation/CORSIA, Canada, Mexico, US, Voluntary Market  /  No Comments

California granted more than 900,000 new offset credits this week, with roughly a quarter designated as providing direct environmental benefits to the state (DEBs), according to data from regulator ARB released on Wednesday. Read More

Business group calls for offset provisions, EITE protections in BC climate strategy 

Published 23:09 on August 12, 2020  /  Last updated at 00:51 on August 13, 2020  /  Americas, Canada, Carbon Taxes, International, New Market Mechanisms  /  No Comments

The British Columbia government should feature carbon offsets as part of the province’s climate strategy and include protections for emissions-intensive, trade-exposed (EITE) industries that other countries and jurisdictions incorporate in their CO2 pricing approaches, an association of some 250 businesses said in a report published Tuesday. Read More

Phillips 66 to convert San Francisco Refinery to renewable fuels production

Published 19:39 on August 12, 2020  /  Last updated at 00:54 on August 13, 2020  /  Americas, Canada, RINs & LCFS, US  /  No Comments

Oil major Phillips 66 announced Wednesday the transition of its San Francisco Rodeo Refinery from crude oil to renewable fuels in the coming years, a move that could reduce its compliance obligations in California’s Low Carbon Fuel Standard (LCFS) and WCI-linked cap-and-trade programme.   Read More