CFTC: Traders boost V25 CCA holdings in futures only market, build RGA shorts post auction
Both emitters and investors increased their V25 California Carbon Allowance (CCA) net length in the futures only market, contrasting with activity in the combined futures and options segment, while adding RGGI Allowance (RGA) short interest in the aftermath of the Q2 auction, US Commodity Trading Futures Commission (CFTC) data published Friday showed.
Read MoreWCI Markets: Extension delay talks barely dent CCA prices, WCAs frame higher following Q2 sale
California Carbon Allowance (CCA) prices dipped slightly over the week as state lawmakers proposed deferring cap-and-trade extension to a regular legislative process, while Washington Carbon Allowance (WCA) values rose in the aftermath of the Q2 auction that settled above futures on the secondary market.
Read MoreCalifornia offset issuance drops to just over 7k, invalidation expiry soars
California regulator ARB issued just over 7,000 offset credits over the latest two-week stretch as the invalidation period of over 800,000 units expired, according to state data released Wednesday.
Read MoreUPDATE – Washington Q2 auction settles $3 above front-month futures, but fails to trigger reserve volumes
Washington’s second quarterly auction of 2025 cleared over $3 above front-month Washington Carbon Allowance (WCA) future prices the day before the sale, reaching the highest settlement since the end of 2023 but failing to trigger the release of reserve volumes, according to a notice published Wednesday.
Read MoreCalifornia lawmakers defer ETS extension language in proposed budget bill
California legislature’s 2025-26 state budget proposal opted out of a speedy cap-and-trade programme extension that appeared in a previous package from the governor, documents released Monday showed.
Read MoreRGGI Market: Q2 auction outcome boosts RGA values
RGGI Allowance (RGA) settlement values inched higher following Q2 permit sale results, with market participants now expecting weather forecasts to direct price trajectory in the near-term absent federal and regulatory updates.
Read MoreCFTC: Producers add CCA net length, slash exposure in RGGI between auctions
Compliance entities increased their California Carbon Allowance (CCA) holdings on a net basis and reduced RGGI Allowance (RGA) exposure as the WCI second quarterly carbon permit sale concluded while that for the Northeast market neared.
Read MoreUPDATE – RGGI Market: Q2 allowance sale settles sub-$20, along market expectations
The second RGGI cap-and-trade auction of 2025 settled in line with RGGI Allowances (RGAs) in the secondary market the day before the sale, and below $20 as many market participants had expected.
Read MoreOregon CFP deficits on track to surpass credit generation in Q4 2024
Deficit generation under the Oregon Clean Fuels Program (OCFP) in Q4 last year surpassed total credit output, which dropped to the lowest levels since early 2023, according to state data published this week.
Read MorePREVIEW: Federal risks, programme fundamentals shape RGGI Q2 auction outlook
A majority of the traders expected the Q2 RGGI carbon permit auction on Wednesday to clear close to secondary market levels, with few anticipating a discount, as observers considered a mix of federal threats, regulatory delays, and programme fundamentals that could shape the outcome.
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