Speculators close V24 holdings in California and RGGI, traders remain short in Washington
Speculators reduced their net length in V24 California Carbon Allowances (CCAs) and RGGI Allowances (RGAs), while both managed money and emitters widened their net short position in Washington Carbon Allowance (WCA) holdings, according to weekly data from the US Commodity Futures Trading Commission (CFTC).
Read MoreWCI Markets: Traders temper expectations for California ETS workshop, WCA activity up a notch
California Carbon Allowance (CCA) prices gradually edged higher through a busy week of both Q2 WCI auction results and a cap-and-trade workshop, while Washington Carbon Allowance (WCA) prices also increased with a pick up in weekly transacted volumes.
Read MoreUS DOE funds $1.2 mln across 24 carbon removal project developers
The US Department of Energy (DOE), which will ultimately purchase $35 million worth of carbon dioxide removal (CDR) credits from project developers, announced the 24 awardees selected in its first phase of funding on Tuesday.
Read MoreUS Policy Roundup: Illinois advances regulation of carbon capture and storage
A carbon capture and storage (CCS) bill awaits Illinois Governor Jay Pritzker’s (D) signature to become law, and appears to have adopted language from a slew of CCS bills covering pore space ownership, emergency management, and sequestration fees.
Read MoreUS CO2 pipeline developer accused of ignoring North Dakota landowners in ongoing permit hearing
A CO2 pipeline developer was accused of a lack of communication from landowners during a North Dakota Public Service Commission (PSC) hearing Friday, in its second attempt to secure construction permits, local media reported.
Read MoreSupporters, critics of EPA heavy-duty vehicle rules take action in court
Over 20 states and a major auto manufacturer separately filed motions to intervene in a lawsuit against the US Environmental Protection Agency’s (EPA) heavy-duty vehicle emissions standards.
Read MorePartial repeal of US IRA tax credits coupled with carbon fee could generate over $2 trillion -report
A partial repeal of climate-related tax credits in the Inflation Reduction Act (IRA), alongside a carbon fee, brings the US closer to achieving its Paris Agreement targets than an expansion of IRA measures alone, and could additionally generate over $2 trillion, according to a working paper modelling climate policy reform to follow the November US elections.
Read MoreTraders build net length across North American carbon markets, save for Washington
Both emitters and speculators added to their net holdings of California Carbon Allowances (CCAs) and RGGI Allowances (RGAs), while the latter group continued to shorten their net position in Washington Carbon Allowances (WCAs), according to weekly data from the US Commodity Futures Trading Commission (CFTC).
Read MoreWCI Markets: CCAs rally post-auction, WCAs remain illiquid
California Carbon Allowance (CCA) prices rallied through the rescheduled Q2 auction as market participants looked to the forthcoming cap-and-trade workshop, while Washington Carbon Allowance (WCA) prices gained on significantly smaller volumes than the week prior.
Read MorePREVIEW: Outlook firms ahead of rescheduled WCI Q2 auction
The California-Quebec current vintage carbon auction scheduled for May 22 is expected to clear in line with or at a slight discount to front-month California Carbon Allowance (CCA) prices, above predictions made before the postponement of the Q2 sale.
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