June RGGI auction settles within traders’ expectations as compliance buying returns
The Q2 RGGI auction settled at a slight premium to the secondary market, as the clearing price and healthy compliance buying aligned with market participants’ predictions prior to the sale, according to results published Friday.
Read MoreVirginia utility commission should approve Dominion’s RGGI rate request, hearing examiner says
The Virginia State Corporation Commission (SCC) should accept Dominion Energy’s nearly $168 million rate request to cover RGGI compliance costs, but the state agency may want to consider requiring further analysis on the utility’s long-term CO2 trends, according to a document filed this week.
Read MoreNA Markets: CCA prices rocket toward 2021 highs following Q2 auction, RGGI allowances stagnate before June sale
California Carbon Allowance (CCA) prices surged on the secondary market this week after speculators acquired an all-time high at the Q2 WCI auction, while RGGI allowances (RGAs) dithered ahead of their own quarterly sale.
Read MoreChicago-based financial firm opens second RGGI COATS account
A Land of Lincoln-headquartered financial firm opened a second RGGI account this week ahead of the Q2 auction, with the registration marking the first new speculative account in the power sector cap-and-trade programme in more than two months, CO2 Allowance Tracking System (COATS) data showed.
Read MorePREVIEW: June RGGI auction expected to clear near secondary market, with eyes on compliance buying
The Q2 RGGI auction is expected to settle closer to the secondary market after notching a wide discount in March, with some market participants foreseeing the quarterly sale settling at a premium due to deferred compliance demand.
Read MoreCalifornia initially foresaw substantially longer non-compliance period for partially invalidated Wisconsin offset project
California regulator ARB initially viewed a non-compliance issue at a Wisconsin dairy farm as a significantly longer period than it ultimately determined, with the offset project developer arguing the position would result in a financial loss of more than $600,000.
Read MoreWCI speculative position rockets to all-time high, as emitters hold first short since spring 2020
Speculators’ California Carbon Allowance (CCA) length surged to an all-time high over the past week, as emitters held a cumulative net short across the V20-22 contracts for the first time since last spring, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreNA Markets: CCA prices rise before Q2 auction results, RGGI dips on thin volume
California Carbon Allowance (CCA) prices climbed on thin secondary market volume as entities awaited the Q2 WCI auction results, while RGGI Allowances (RGAs) sank to $8 ahead of the programme’s own quarterly sale next week.
Read MoreWCI current vintage auction settlement hits all-time high, as speculators procure largest ever share
The California-Quebec Q2 auction settled underneath the secondary market level as speculators purchased their largest share ever, while the current auction clearing price notched an all-time high and landed on the upper end of market expectations, according to results published Thursday.
Read MoreCalifornia’s ARB nixes offsets from a second Wisconsin-based livestock project
California regulator ARB invalidated compliance offsets from a Wisconsin-based livestock project on Wednesday that the agency found to be in violation of state environmental regulations, marking the fourth project to see credits voided under the WCI-linked cap-and-trade programme.
Read More