NA Markets: CCA prices retrace further despite influx of V20 buying, RGGI stagnates on low demand
California Carbon Allowance (CCA) prices this week declined despite a surge in transacted volume, while RGGI Allowance (RGA) values edged down slightly across the week with limited buying interest.
Read MoreNA Markets: CCAs decline from recent highs, RGGI prices increase on compliance buying
California Carbon Allowance (CCA) prices retraced over the week as demand declined from financial firms, but RGGI allowances (RGAs) inched closer to the $9 level due to an influx in buying from compliance entities.
Read MoreNew York-based financial firm opens RGGI account
A New York-based hedge fund opened a RGGI CO2 Allowance Tracking System (COATS) account on Thursday, marking the second new financial firm to register in the Northeast US cap-and-trade scheme since June.
Read MorePennsylvania endorses final RGGI regulation despite dissent from Republicans, industry
Pennsylvania’s Environmental Quality Board (EQB) approved the final RGGI-modelled cap-and-trade regulation on Tuesday morning as Republican members and industry groups claimed the state agency violated the law by promulgating the rule.
Read MoreRGGI Q3 auction volume edges down on removal of past vintage allowances
The Northeast US RGGI cap-and-trade programme will offer nearly 23 million allowances for the second consecutive auction, but unlike the previous quarterly sales all of the permits will come from the current auction budget, according to an auction notice posted Tuesday.
Read MoreUS inflation rises in June to set higher WCI 2022 floor expectations
California’s WCI-linked cap-and-trade floor price expectations for 2022 edged out further this month as June inflation rose year-on-year, but allowance prices remain significantly above these levels amid a wave of speculative interest in recent months.
Read MoreCalifornia needs deeper evaluation of cap-and-trade scheme, stronger sectorial reductions -comments
California should further evaluate the contribution of its WCI-linked cap-and-trade programme to reach the state’s long-term GHG reduction goals, while state regulator ARB should also implement further climate policies to decarbonise the building and transportation sectors, stakeholders wrote in public comments.
Read MoreUS pipeline company to spend $150 mln on carbon offsets for proposed interstate project
A Pennsylvania-based pipeline company announced plans on Monday to acquire carbon offsets over a 10-year period for an interstate pipeline, with the credits to make the project carbon neutral over its first decade of operation.
Read MoreSpeculators’ California carbon position inches up as allowance prices notch new all-time high
Speculative firms added to their California Carbon Allowance (CCA) positions over the week as prices hit a fresh record high, but the week-on-week changes revealed more modest growth compared to last month, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreNA Markets: Speculators fuel new all-time CCA high, as RGGI hits 6-month peak on compliance buying
California Carbon Allowance (CCA) prices stormed higher this week with rising demand from financial firms in the WCI market, and RGGI Allowances (RGAs) also ticked up to a 6-month high as compliance entities and speculators sought out new positions.
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