RGAs reverse course from recent rally, plunge amid diminished bidding
RGGI Allowance (RGA) futures plunged from all-time highs on Tuesday following three days of historic surging as market participants pointed to the collapse of strong bidding that drove the recent rally and said the direction of the market ahead remains unclear.
Read MoreNew York governor eyeing 2028 for cap-and-invest launch -media
New York Governor Kathy Hochul (D) is working on a proposal that would delay implementation of the state’s planned cap-and-invest programme until 2028 amid ongoing debates around the state’s climate goals and budget, media reported Tuesday.
Read MoreRGGI Market: Historic rally rages over 30% into new week as RGAs breach $40
Last week’s surge in RGGI Allowance (RGA) futures carried over into the new week as prices broke all-time highs above the $40 threshold, up more than 30% in the last three days, with traders telling Carbon Pulse it’s unclear where and when the current rally could reach a pinnacle.
Read MoreNewfoundland and Labrador lifts emissions baselines for oil, mining projects -media
Details have emerged of the Canadian province’s decision earlier this year to raise emissions baselines for major oil and mining projects under its industrial carbon pricing system, according to media reports.
Read MoreCarbon cost pass-through, financing constraints to dictate heavy industry transition under rising carbon prices -study
Energy-intensive firms’ ability to pass carbon costs on to customers and secure sufficient financing will be decisive in determining whether they can survive tightening climate policy and deliver decarbonisation, according to new research.
Read MoreCFTC: Managed money builds net length in RGAs, CCAs
Financial players extended their net length in California Carbon Allowance (CCA) and RGGI Allowance (RGA) holdings, moving in opposite directions from emitters, according to the latest data from the US Commodity Futures Trading Commission (CFTC).
Read MoreRGA surge continues on Friday as futures fly past $37 to new all-time highs
RGGI Allowance (RGA) futures continued to surge to new all-time highs on Friday, rising more than 12% on the day as prices crossed the $37 mark, with traders attributing the rise to a continuation of Thursday’s rally amid tight market dynamics.
Read MoreWCI Markets: CCAs remain flat sub-$30 amid limbo
California Carbon Allowance (CCA) futures remained relatively flat below the $30 mark over the last week as the market continues to await further clarity in programme rulemaking.
Read MoreCarbon pricing design to determine Canada-Alberta MoU emissions outcome, think tank says
Canada’s emissions trajectory under a proposed federal-provincial memorandum of understanding (MoU) could diverge sharply depending on how industrial carbon pricing is structured, with outcomes varying by more than 80 million tonnes of CO2e by 2050, according to analysis released on Wednesday.
Read MoreRGAs head “into the stratosphere” as prices rally to surpass $33
RGGI Allowance (RGA) futures jumped more than 7% on Thursday as traders said the market was showing no signs of slowing down in its recent rally to historic highs.
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