UPDATE – RGGI Market: Q2 allowance sale settles sub-$20, along market expectations
The second RGGI cap-and-trade auction of 2025 settled in line with RGGI Allowances (RGAs) in the secondary market the day before the sale, and below $20 as many market participants had expected.
Read MoreWCI Markets: CCAs subdued amidst subsurface churn
California Carbon Allowances (CCA) held steady despite heavy futures and options volumes as the market awaits resolution of federal and regulatory risks, while Washington Carbon Allowance (WCA) prices declined into the Q2 auction.
Read MoreLarge hedge fund parts ways with North American environmental products head
The North American head of an environmental trading desk with a US-headquartered multinational hedge fund has left the firm, Carbon Pulse has learned.
Read MoreUS Transportation department puts California’s high-speed rail on notice of potential loss of $4 bln federal funding
The US Department of Transportation (DOT) released a report Wednesday finding California’s high-speed rail project to be in default of the terms of two federal grants totalling roughly $4 billion.
Read MorePREVIEW: Traders expect settlement around front-month futures, analysts foresee reserve release at Q2 Washington auction
Traders said they expected the Q2 sale on Wednesday to clear within a $1-2 range of front-month Washington Carbon Allowances (WCAs), while most analysts projected the potential for a higher settle that would release reserve volumes.
Read MorePREVIEW: Federal risks, programme fundamentals shape RGGI Q2 auction outlook
A majority of the traders expected the Q2 RGGI carbon permit auction on Wednesday to clear close to secondary market levels, with few anticipating a discount, as observers considered a mix of federal threats, regulatory delays, and programme fundamentals that could shape the outcome.
Read MoreWhite House budgetary office proposes over 50% in budget cuts to EPA for 2026
The White House released supplementary details of plans to slash spending in 2026 as the US Senate debates the fiscal year 2025 budget reconciliation package.
Read MoreCalifornia infrastructure coalition outlines priorities as tussle for cap-and-trade revenues heats up
A recently formed coalition of California infrastructure businesses and labour union groups laid out their funding priorities from cap-and-trade auction revenues as lawmakers work on programme re-authorisation.
Read MoreCFTC: Investors cautiously reduce exposure in V25 CCA, RGGI, LCFS as futures prices weaken
Investors pared down net length in V25 California Carbon Allowances (CCAs) to November levels in wake of tempered expectations for the Q2 auction, while closing out their RGGI Allowance (RGA) and Low Carbon Fuel Standard (LCFS) long holdings in the face of regulatory uncertainty, according to US Commodity Trading Futures Commission’s (CFTC) data published Friday.
Read MoreWCI Markets: First undersubscribed auction in nearly 5 years hits the floor in Q2
The Q2 California-Quebec current vintage carbon auction settled at the floor price in line with secondary market prices and tempered market expectations, as California Carbon Allowance (CCA) futures have weakened through May in the face of unresolved federal risks and prolonged reauthorisation negotiations with state lawmakers.
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