CFTC: CCA investors flock to V25 as prices spiral lower, RGGI traders quietly add net length
Financial entities continued to trim V24 California Carbon Allowance (CCA) exposure and build V25 length this week as futures prices spiralled lower into the Q4 WCI allowance sale after sentiment soured with news of regulatory delays, while traders added to RGGI Allowance (RGA) net length even as price action stalled, according to data released Friday from the US Commodity Futures Trading Commission (CFTC).
Read MoreWCI Markets: CCA futures, options trade explodes to multi-year records around Q4 auction
California Carbon Allowances (CCA) futures and options activity on ICE ramped to record levels into the last quarterly permit sale of 2024 earlier this week, with sentiment recast lower after ARB delayed cap-and-trade updates to the new year, while lack of liquidity clouds hints of momentum in Washington Carbon Allowances (WCA).
Read MoreOregon EQC unanimously votes to restore state’s GHG reduction scheme
Oregon’s Environmental Quality Commission (EQC) on Thursday unanimously approved the proposed Climate Protection Program (CPP), effectively reinstating the GHG reduction scheme after it was invalidated last year.
Read MoreAdditional policy and fuel pathway considerations needed to drive US SAF growth -think tank
California and Washington rank as top supporters of sustainable aviation fuel (SAF) investments in the US, but overall growth looks grim absent improved policy frameworks and production pathway considerations, according to a think tank.
Read MoreNebraska sues truck manufacturers for backing California’s EV rules
Nebraska’s Attorney General (AG) alongside two industry groups on Tuesday filed an antitrust lawsuit against several US heavy-duty truck makers, alleging that their agreement with California to advance clean transition in the trucking sector is “nakedly anti-competitive”.
Read MorePREVIEW: ARB’s ETS rulemaking delays recast WCI Q4 auction sentiment lower, outsized ACP positions skew expectations
A larger cross-section of traders polled expect the last quarterly California-Quebec current vintage carbon allowance auction for 2024 to clear discounted to front-month California Carbon Allowance (CCA) prices after market sentiment soured with ARB delaying cap-and-trade regulatory updates, but unusual Auction Clearing Price (ACP) futures open interest (OI) could skew the outcome.
Read MoreWashington clarifies timeline for cap-and-invest changes after linkage bill takes effect
Washington state’s Department of Ecology (ECY) on Monday highlighted upcoming cap-and-trade changes as a linkage bill takes effect beginning 2025, including an increase in allowance purchase limit at the quarterly auctions, offsets, and electricity imports.
Read MoreRGGI Market: Prices slide on thin volumes as observers await regulatory updates
RGGI Allowance (RGA) prices retreated on lighter market activity amidst anticipation of additional announcements regarding the ongoing Third Program Review.
Read MoreNorth Dakota approves permit for contentious CO2 pipeline after months of deliberations
North Dakota’s Public Service Commission (PSC) has approved a permit for a multi-state CO2 pipeline, clearing a path for project development in the state amid permitting struggles in other regions.
Read MoreWashington state’s cap-and-trade scheme records strong compliance in inaugural year
Most entities covered under Washington’s cap-and-invest programme fulfilled their annual compliance obligation in 2023 as only one entity fell short, a report from the state’s Department of Ecology (ECY) released Friday showed.
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