California traders report longer timelines for CITSS account approvals
California approvals of new Compliance Instrument Tracking Service System (CITSS) accounts are taking longer than usual as the state sees an influx of new applications, including from more complicated financial participants hoping to enter the WCI carbon market, traders told Carbon Pulse.
Read MoreEmitters bolster CCA holdings as July contract expires, financial firms keep positions steady
WCI regulated entities increased their California Carbon Allowance (CCA) cumulative position this week as the July contract expired, while speculators maintained holdings amid rising prices on the secondary market.
Read MoreOregon sets allocation levels for three largest natural gas suppliers in draft cap-and-reduce rule
Oregon’s Department of Environmental Quality (DEQ) released a draft cap-and-reduce programme rulemaking on Thursday that sets allowance allocation levels for natural gas suppliers, along with methodologies for other regulated parties under the market-based scheme.
Read MoreUS Carbon Pricing and LCFS Roundup for week ending Aug. 6, 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 Massachusetts, New Hampshire, and California.
Read MoreLarge GWSA emitter pushes for cap-and-trade revisions, as others flag concerns about Massachusetts clean energy programmes
A large utility regulated under the Massachusetts Global Warming Solutions Act (GWSA) carbon market has advocated for revisions to the programme’s auction limits and banking provisions, while the bulk of public commenters in a consultation process supported the Department of Environmental Protection’s (DEP) proposal to maintain the in-state power sector scheme.
Read MoreNA Markets: CCAs recover losses as financial firms return, RGGI rises to new all-time high
California Carbon Allowance (CCA) prices rebounded this week from recent lows on additional demand from financial firms, while RGGI Allowances (RGAs) climbed to a new all-time high as year-to-date emissions crept up to the 50-million short ton level.
Read MoreUPDATE – Virginia approves Dominion’s RGGI rate case request with some future requirements
The Virginia State Corporation Commission (SCC) approved Dominion Energy’s request to recover nearly $168 million in RGGI-related compliance costs on Wednesday, but the state agency will require future requests to include analysis to support the utility’s rationale for banked allowances and total compliance needs.
Read MoreQuebec releases draft forestry protocol that allows for aggregation, early-action offsets
Quebec’s environment ministry released a draft forestry protocol for private lands on Wednesday that allows for aggregation of several sites, enables early action projects to earn compliance-grade credits, and omits WCI partner California’s 100-year permanence requirement.
Read MoreRGGI programme review discussion may not begin in earnest until 2022 -sources
RGGI’s upcoming programme review may not delve into modelling and analysis until early next year as the 11-state carbon scheme awaits Pennsylvania’s entrance in 2022, while officials are also working to bolster its outreach to environmental justice groups.
Read MoreCalifornia generation shifts to carbon-emitting sources during heat wave, as Q2 emissions soar
California power consumption climbed throughout July as the Golden State experienced continued hot weather, while grid operator California Independent System Operator (CAISO) reported much higher Q2 emissions this year due to an increase in carbon-emitting sources.
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