US-based investment bank opens second RGGI account after new hire
A major investment firm opened an additional RGGI CO2 Allowance Tracking System (COATS) account this week after hiring a new environmental trader earlier this year, data showed this week.
Read MoreCalifornia, WCI may seek additional delay in US DOJ challenge over carbon market linkage
California is expected to ask a federal court for an extension in the US Department of Justice’s (DOJ) lawsuit challenging the constitutionality of the WCI carbon market linkage, giving the government additional time to get political appointees confirmed, a lawyer told Carbon Pulse.
Read MoreANALYSIS: Texas power losses may have contributed to low RGGI auction settlement
Compliance entities likely deferred RGGI allowance procurement at the Q1 auction due to losses in the Texas power market, while some regulated parties hedged demand prior to the quarterly sale, participants said.
Read MoreCommodity trading firm buys offsets from RGGI’s lone project
A RGGI speculator has purchased the only carbon offsets ever created in the Northeast US power sector cap-and-trade programme, the counterparties announced Monday.
Read MoreQuebec revises two offset protocols, shifts regulatory text out of cap-and-trade rules
Quebec released two new draft offset protocols for its WCI-linked cap-and-trade system on Monday, as the environmental ministry intends to facilitate the adoption of additional protocols by shifting the credit programme regulatory text out of the emissions trading scheme.
Read MoreWCI emitters trim carbon positions as speculators keep length mostly stable at 50 mln
California Carbon Allowance (CCA) holdings for regulated entities declined last week as the February ICE contract expired, while speculators kept positions relatively stable following the first WCI auction of the year, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreRGGI Q1 auction eclipses all-time high but settles significantly under secondary market
RGGI’s first auction of 2021 set an all-time high this week, according to results published Friday, but the quarterly sale still shocked traders by clearing far below the secondary market pricing level.
Read MoreNA Markets: RGGI inches up before auction results, as CCAs edge down
RGGI allowance (RGA) prices rose slightly on the secondary market this week ahead of the publication of the scheme’s first 2021 auction results, while California Carbon Allowance (CCA) values dipped after its own quarterly sale sold out slightly above the floor price.
Read MoreEnvironmental group urges Virginia commission to reject Dominion’s RGGI procurement strategy
A Virginia utility commission should not approve a Dominion subsidiary’s rate request to cover RGGI compliance costs under the power sector carbon market, or at least should eliminate the generator’s ability to recover carrying costs, according to pre-hearing testimony released Tuesday evening.
Read MorePREVIEW: Virginia, post-2020 changes add uncertainty to Q1 RGGI auction
Virginia’s inclusion and new post-2020 changes to the power sector RGGI carbon market could significantly alter the outcome of Wednesday’s quarterly auction, with some traders anticipating a clear at or slightly above the secondary market levels.
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