CP Daily: Thursday July 30, 2015

Published 18:22 on July 30, 2015  /  Last updated at 14:36 on August 2, 2015  /  Newsletter  /  No Comments

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

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OUR TOP NEWS:

China CO2 prices to remain low on moderate power demand forecast

China’s power demand is set to pick up slightly in the second half of the year, the electricity industry body said Thursday, but thermal power generation will continue to struggle, meaning a rebound for CO2 prices looks unlikely.

EUAs tumble back below €8 as buyers fail to step in

EU carbon prices dropped 2.5% on Thursday after speculators pushed prices below support at €8, triggering stop-losses to send prices to their lowest for almost two weeks.

EU utility hedging: Enel hedging lags as H1 thermal output rises 16%

Italian utility Enel advanced its forward hedging over the quarter but hedging rates still lag the previous year’s levels, the company said in its first-half results on Thursday.

 

Bite-sized updates from around the world:
The US government is to propose new solar and wind power incentives in its Clean Power Plan next week to counter the effects of delaying compliance requirements for states by 2 years to 2022, Bloomberg reports, citing an unnamed official. The news agency also said business lobbyists are making a late push for the bill to include a loose form of carbon trading, something Carbon Pulse has previously reported that almost all states are considering for compliance.

California regulators will on Aug. 5 host its third of five online symposiums to discuss strategies for how the US state can meet its 2030 emission cut goals. This session will be on land use and follows two earlier this month on cutting petroleum use and boosting renewables. Agenda here. There are two further sessions due later this month on energy savings and short-lived climate pollutants.

EU member state officials will meet in early September for first talks on what could be 2 years of debate on the EU Commission’s post-2020 ETS reform proposal. They are due to discuss the proposal’s impact assessment but some officials want to move straight to carbon leakage issues, with Poland seeking annual reviews of performance benchmarks to set free EUA allocation rather than the five year periods proposed. (Politico Europe)

Hunt’s climate change ‘get out of jail free’ card – The choice between whether to re-implement an emissions trading scheme or stick to the government’s taxpayer-funded abatement purchasing scheme is completely immaterial relative to a decision on whether or not an Australian Government would make large-scale use of international carbon credits, writes Tristan Edis. (Climate Spectator)

African rivers and wetlands emit around 900 million tonnes of CO2e per year, according to a new study published in Natur Geoscience, roughly equal to Germany’s annual emissions. (SciDevNet)

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