California power emissions rise YoY in February despite declining consumption
California power sector carbon emissions increased for the second consecutive month in February, despite the Golden State seeing a reduction in total demand over this period, according to California Independent System Operator (CAISO) data released this week.
Read MoreNA Markets: California carbon edges down on spread activity, RGGI dips on few near-term drivers
California Carbon Allowance (CCA) prices dropped on the secondary market this week as entities shifted positions further out on the curve, while RGGI Allowance (RGA) values inched down despite increased trading activity.
Read MoreCalifornia launches offset probe into second Wisconsin-based livestock project
California regulator ARB opened an investigation on Thursday into a second Wisconsin-based livestock project for violating regulatory compliance, with more than 30,000 compliance offsets now under review.
Read MoreVirginia officials back Dominion’s RGGI rate request as utility outlines 2020 allowance hedge
Virginia will not oppose utility Dominion Energy’s rate request to cover RGGI allowance procurements over the next 18 months, while the generator revealed the value of its hedged position in the Northeast cap-and-trade scheme, according to filings released this week.
Read MoreUS clean energy standard among proposals in Biden’s $2 trillion infrastructure plan
President Joe Biden’s administration unveiled a $2 trillion infrastructure plan on Wednesday that would create a clean energy standard for the power sector, allocate funding to electric vehicle charging stations, and jump start research and development for clean technology.
Read MoreCalifornia-registered carbon market accounts decline in Q1 as offset participants exit
Six general market participants opened Compliance Instrument Tracking Service System (CITSS) accounts over Q1 2021, while more than a dozen accounts tied to offset projects shuttered in the WCI-linked cap-and-trade scheme, data released by California regulator ARB on Tuesday showed.
Read MoreAnalysts foresee higher California in-state offset prices as shortage materialises by 2025
California Carbon Offsets (CCOs) with direct environmental benefits to the state (DEBs) are expected to be undersupplied in the latter half of this decade, with premiums slated to rise as market participants anticipate forthcoming shortages, analysts said during a webinar on Tuesday.
Read MoreRGGI stakeholders may seek revisions to interim cap-and-trade obligations
RGGI member states anticipate stakeholders will push for revisions to the Northeast US carbon market’s interim compliance requirement during the upcoming programme review, potentially increasing liquidity on the secondary market.
Read MoreSpeculators’ California carbon length hits one-year high, as emitters continue to trim
Financial entities increased their California Carbon Allowance (CCA) holdings this week as permit values trended down towards the WCI floor price, while regulated entities continued to cut positions, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreCalifornia fuel sales plummet in 2020 as COVID-19 pandemic weighs
California transportation fuel demand crashed 16% in 2020 as the COVID-19 crisis curtailed vehicle miles travelled in the Golden State, likely leading to significantly lower emissions under the state’s WCI-linked carbon market, according to state data released Friday.
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