WCI emitters sold off positions ahead of Q3 auction results, data shows
California and Quebec regulated entities sold futures and options positions last week ahead of the Q3 WCI auction results publication that far exceeded traders’ expectations, with financial firms adding to their length over that period, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreNA Markets: CCAs set second consecutive all-time high, as 20 mln call options come into the money
California Carbon Allowance (CCA) prices continued to set new all-time highs on the secondary market on Friday morning after the Q3 auction exceeded expectations this week, with more than 20 million call options now in the money.
Read MoreUS Carbon Pricing and LCFS Roundup for week ending Aug. 27, 2021
A summary of legislative and regulatory action on carbon pricing, clean fuel standards, and clean energy at the US subnational and federal level this week, including developments in California and Pennsylvania.
Read MoreNA Markets: CCAs soar to all-time high after auction surpasses expectations, RGGI continues to slump
California Carbon Allowances (CCA) prices surged to a new record just one day after the publication of a bullish Q3 WCI auction settlement, while RGGI Allowances (RGAs) continued to fall from recent highs.
Read MoreRGGI emitters held allowances close to YTD emissions in Q2, as activity rose to pre-pandemic levels
RGGI compliance-oriented entities possessed carbon permits slightly above their year-to-date emissions during the second quarter, while activity in the Northeast US cap-and-trade programme has risen above pre-pandemic levels due to more participants, according to a new report released on Thursday.
Read MoreCalifornia offset issuance hits eight-month high on forestry boost
California distributed the largest number of compliance offsets this week since winter 2020, with forestry projects contributing to the bumper issuance, according to data from state regulator ARB published Wednesday.
Read MoreUPDATE – Q3 WCI auction exceeds market expectations to settle at new all-time high
Rising speculative demand helped push the California-Quebec Q3 auction settlement to a new all-time high while regulated entities took home their smallest share ever, as the quarterly sale bucked past trends to settle at a premium to the secondary market price, according to results published Wednesday.
Read MoreRGGI compliance entities took varied approach to carbon market in Q2, quarterly reports show
Large RGGI emitters took different approaches to the power sector cap-and-trade programme over the second quarter, with some adding length as allowance prices rose and others trimming holdings, according to quarterly reports.
Read MoreCalifornia gasoline consumption ticks up, but flattens to 2019 levels
California gasoline usage rose slightly in June as pandemic restrictions were removed, but the Golden State’s fuel demand stagnated against historic levels despite the month-on-month gains, according to federal data.
Read MorePREVIEW: Traders see greater uncertainty for WCI auction, with some anticipating high discounts
WCI carbon traders anticipate the August current vintage auction on Wednesday will settle below the secondary market, with some participants expecting a steeper discount than the Q2 sale despite allowance prices surging over the summer.
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