Federal forecast sees rising US fuel demand this summer, potentially padding California CO2 obligations
US gasoline and diesel consumption is expected to rise this summer over 2020 levels as the impacts of the COVID-19 pandemic ease, according to a federal forecast, likely increasing cap-and-trade obligations for US fuel suppliers in the WCI-linked programme.
Read MoreNA Markets: CCA prices hit 1-month high amid rising gas production, as RGGI stagnates on thin volume
California Carbon Allowance (CCA) prices rose to a one-month high this week on more positive outlooks for refinery output and inflation, while RGGI allowances (RGAs) remained rangebound on the secondary market.
Read MoreWCI emitters covering past CO2 obligations at quicker pace, data shows
WCI regulated entities are more quickly putting allowances and offsets into compliance accounts for past cap-and-trade obligations for the joint programme’s upcoming full true-up deadline, according to data released this week.
Read MoreQuebec hoping to complete draft forestry protocol this spring
Quebec is aiming to finalise its draft forestry protocol for private lands this spring, after the coronavirus pandemic and other priorities delayed the process for much of 2020, a government spokesperson told Carbon Pulse.
Read MoreWCI regulated parties beginning to prepare for upcoming full compliance deadline, data shows
WCI emitters shifted nearly 50 million allowances into compliance accounts over the first quarter of the year as they prepare for the linked cap-and-trade programme’s full true-up deadline this fall, according to programme data published Tuesday.
Read MoreRGGI Q2 auction volume drops after finalisation of five-year bank adjustment
The Northeast US RGGI cap-and-trade programme will offer nearly 23 million allowances at its June auction, with the quarterly volume declining slightly after the recent finalisation of the 2021-25 surplus bank adjustment, according to an auction notice posted Tuesday.
Read MoreCanadian bank opens account in RGGI cap-and-trade scheme
A Canada-based bank opened a RGGI CO2 Allowance Tracking System (COATS) account over the past week, breaking a recent trend of only compliance entities opening general market accounts in the Northeast US power sector carbon market.
Read MoreWCI compliance entities add length to CCA holdings as March futures contract expires
WCI emitters increased their net California Carbon Allowance (CCA) length last week as the March futures contract expired, boosting compliance entities’ current holdings to a 14-week high, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreManure spill prompted California investigation at Wisconsin-based offset project, documents show
A manure spill at a Wisconsin offset project caused the dairy farm to violate its permit, leading California regulator ARB last week to launch an investigation into more than 30,000 carbon credits issued to the digester, according to records obtained by Carbon Pulse.
Read MoreCourt extends timeline for US DOJ challenge to California-Quebec cap-and-trade linkage
A federal court extended the timeline for the pending US Department of Justice (DOJ) appeal that challenges the constitutionality of the WCI carbon market linkage, likely giving the government additional time to get political appointees confirmed.
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