CP Daily: Friday December 9, 2016

Published 19:17 on December 9, 2016  /  Last updated at 19:27 on December 9, 2016  /  Newsletter  /  No Comments

A daily summary of our news plus bite-sized updates from around the world.

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UK keen to stay in EU ETS post-Brexit -Bloomberg

The UK government wants to remain in the EU Emissions Trading System after it has completed its EU exit, Bloomberg reported Friday citing an unnamed government official.

RGGI auction clears below market at $3.55, prices set to halve over 2016

RGGI states sold all 14.8 million spot allowances offered in this week’s quarterly auction for $3.55 each, the market’s operator announced Friday, marking a $1 fall from the previous auction.

Australia slams the door on carbon pricing

Chances that Australia will introduce a carbon trading scheme for electricity generators this side of 2020 appeared slim to none on Friday after Prime Minister Malcolm Turnbull reiterated his opposition to the idea while a proposal from the South Australia premier to launch a state-based scheme failed to gain traction.

EU Market: Volatility continues as EUAs post 3.7% weekly gain

European carbon prices ended Friday lower but posted a 3.7% weekly gain after hitting a seven-day high earlier in the day, in what was another choppy trading session.

NZ Market: NZUs softer amid slowing trade as PM resignation lacks impact

New Zealand carbon permits drifted down 0.6% over the week in thin trade as traders took a wait-and-see approach to changes in government.

CN Markets: Pilot market data for week ending Dec. 09, 2016

Closing prices, ranges and volumes for China’s regional pilot carbon markets this week.

BITE-SIZED UPDATES FROM AROUND THE WORLD

Off to a fractious start, eh – Loud but predictable opposition to a federally-inposed Canadian carbon price by Saskatchewan Premier Brad Wall may be overshadowed by a bigger threat to a pan-Canadian climate deal: British Columbia Premier Christy Clark.  As provincial and federal government leaders meet on Friday in Ottawa to discuss climate change, The Canadian Press reports that Clark has said the issues of carbon price equivalency between direct BC’s carbon tax and cap-and-trade markets must be resolved before she’ll sign on to Prime Minister Justin Trudeau’s plan for an escalating tax.  More developments and announcements from the meeting are expected to come.

Coldwater on coalburn – Plans to burn coal under the seabed off the UK coast to create gas have been quashed by the UK, which said the practise wasn’t consistent with its low carbon strategy after publishing an independent study which found this underground coal gasification would increase emissions for gas power by 40-100%. (The Telegraph)

Coal goes for capacity – The UK’s latest capacity market auction contracted 52.4 GW of generation for four years ahead, around 85% from existing plants at £22.50/kW and only marginally above the £18/kW last year. There were mixed results for coal-fired units, with five units of at least 6GW securing contracts and guaranteeing they will remain operational until 2021. But EDF’s 2GW Cottam and SSE’s Fiddlers Ferry coal plants failed and may now face closure when their other capacity payments expire at the end of winter 2018/19. (Argus)

And finally… Scientists on the run – A new publication on handling political harassment and legal intimidation will be available to US scientists gathering next week for the annual American Geophysical Union conference. The booklet’s author decided to write it the day after the election, she notes, as fears grow among scientists watching Donald Trump’s presidential transition team and cabinet picks fill up with “expertise in the dark art of disinformation.” (New Yorker)

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