NA Markets: California allowances surge to new all-time high above $26 after recall election
California Carbon Allowances (CCAs) soared to a new record high on Wednesday morning after Governor Gavin Newsom (D) survived a recall election, with traders adding that aggressive buying had caused prices to pop more than $1 on the day.
Read MoreUPDATE — Newsom wins gubernatorial recall election to preserve California climate policies
California Governor Gavin Newsom (D) survived a recall election on Tuesday, keeping California’s suite of carbon reduction policies in tact as the state’s Democratic-leaning voting bloc rejected a GOP-backed effort to oust the first-term governor.
Read MoreQuebec doles out remaining 2020 allowance allocation as total slides from 2019 levels
Quebec distributed the remainder of its 2020 free carbon market allowance allocation on Tuesday, with the total volume declining slightly year on year, according to data published by the province’s environment ministry.
Read MoreCalifornia power sector emissions hit 5-year high in July as more generation comes from gas
California Independent System Operator’s (CAISO) July emissions set a five-year high amid rising power consumption after COVID-19 restrictions were removed, while the monthly CO2 output also soared to its largest level this year.
Read MoreCalifornia’s 2022 carbon floor expectations fall into tighter band as inflation eases slightly
California’s WCI-linked cap-and-trade floor price expectations for 2022 further narrowed in August as inflation saw its smallest month-on-month gain since December.
Read MoreCalifornia’s Newsom projected to survive recall election, keeping carbon reduction programmes intact
Governor Gavin Newsom (D) is expected to survive a recall election that could have critical impacts on the state’s climate policy, as public polling shows him with a significant advantage going into Tuesday’s vote.
Read MoreVirginia state agency sets schedule for reconsideration of Dominion’s RGGI rate request
Utility Dominion Energy will need to provide additional comments later this month to support its RGGI procurement plan after an environmental group successfully petitioned the Virginia State Corporation Commission (SCC) to suspend a ruling on the case.
Read MoreRGGI sets first 2021-22 programme review meeting as carbon scheme outlines areas of interest
The 11 RGGI states announced a preliminary programme review schedule on Monday for the Northeast US power sector carbon market, with the first workshop to occur next month and the process expected to stretch into 2022.
Read MoreCalifornia legislature fails to pass bill to cement 2045 carbon neutrality goal
The California Senate failed to pass a bill on Friday that would have enshrined the state’s economy-wide CO2 neutrality goal into law and increased the jurisdiction’s direct GHG reduction goal.
Read MoreWCI compliance entities added to cumulative short positions after Q3 auction
WCI regulated entities added to their open short positions immediately after the Q3 auction cleared above market expectations, while speculators slightly increased their length, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
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