NA Markets: RGGI prices recover during cold snap, as California allowances linger ahead of auction
RGGI Allowance (RGA) prices recovered on the secondary market this week as colder weather in the Northeast US prompted more carbon-intensive units to come online, while California Carbon Allowance (CCA) prices remained roughly unchanged.
Read MoreUS EPA has “clean slate” for developing new power sector GHG regulation, though exact plan uncertain
President Joe Biden’s (D) administration has a “clean state” on developing a regulation to reduce power sector emissions, EPA administrator nominee Michael Regan said Wednesday, as he committed to let states implement more ambitious vehicle GHG standards than the federal government and bring greater transparency to the Renewable Fuel Standard (RFS) if confirmed as head of the agency.
Read MoreSenate Republicans frame Biden’s climate executive orders as bad for US economy, GHG reductions
Republican Senators took aim at a suite of climate-related executive orders signed by President Joe Biden (D) during a committee hearing on Wednesday, saying the policies would provide little environmental benefit and negatively impact the economy.
Read MoreCalifornia evaluating future role of carbon market, despite official’s comments -sources
California regulator ARB has not yet made a determination about the role of cap-and-trade or the programme’s future allowance supply, despite comments from a state official that the WCI-linked scheme would play a “smaller role” in reaching long-term climate goals, regulatory sources told Carbon Pulse.
Read MoreVirginia’s Dominion directed to update long-term modelling to achieve clean energy goals
A Virginia power utilities commission could not determine that Dominion Energy’s Integrated Resource Plan to achieve long-term climate goals is reasonable, and as a result has asked the RGGI-regulated company to do additional analysis on future demand, efforts to boost reliability, and customer bill impacts.
Read MoreMassachusetts GWSA carbon market posts first annual deficit amid COVID-19 pandemic
Massachusetts electricity generators regulated under the state’s Global Warming Solutions Act (GWSA) cap-and-trade programme posted their first annual deficit in 2020 as hotter weather and remote working pushed CO2 output above the scheme’s adjusted cap, data showed.
Read MoreCalifornia offset task force close to completing revised draft, sources say
A California compliance offset protocol committee will release a revised draft report for public comment as early as next week before finalising the document by March, regulatory sources confirmed to Carbon Pulse.
Read MoreFinancial entities build as emitters cut CCA positions ahead of Q1 auction
Speculators boosted their California Carbon Allowance (CCA) holdings as regulated parties once again trimmed their position this week, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreRGGI Q4 emissions skew lower as 2021-25 bank adjustment estimate edges down
RGGI reported a year-on-year drop in emissions in Q4 due to the effects of the ongoing COVID-19 pandemic, while total 2020 output would set the upcoming five-year allowance bank adjustment slightly lower than the power sector scheme’s expectations, official data showed on Friday.
Read MoreUS oil firm transacts first CO2-neutral product as it aims for net zero crude
A US-based company has delivered its first CO2-neutral oil, bundling the fuel shipment with carbon offsets and saying the milestone was its first step in achieving net-zero oil.
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