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NA Markets: Cali. allowances decline after Q4 sale as RGGI finds support ahead of auction

Published 17:10 on November 26, 2020  /  Last updated at 22:18 on November 26, 2020  /  Americas, Canada, US  /  No Comments

California Carbon Allowance (CCA) prices slid this week after the release of the Q4 WCI auction results, as RGGI Allowances (RGA) found continued support on the secondary market ahead of the Northeast US cap-and-trade programme’s own quarterly auction.

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California distributes 158k offsets in smallest issuance since July

Published 22:06 on November 25, 2020  /  Last updated at 22:06 on November 25, 2020  /  Americas, Canada, US  /  No Comments

California regulator ARB this week divvied out 158,700 compliance offsets, breaking a six-week streak of issuances over 1 million and marking its smallest issuance since July.

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WCI emitters’ capital, emissions outlook could have played factor in Q4 auction buying

Published 21:06 on November 25, 2020  /  Last updated at 21:06 on November 25, 2020  /  Americas, Canada, US  /  No Comments

WCI compliance entities shifted their Q4 auction bidding strategies on future emissions outlooks for the linked cap-and-trade programme, internal allowance limits, and available capital, leading the group to procure fewer carbon permits than the previous sale, traders said.

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Canadian CFS prices to remain well under compliance fund value through 2030 -analysis

Published 18:14 on November 25, 2020  /  Last updated at 18:14 on November 25, 2020  /  Americas, Canada, RINs & LCFS  /  No Comments

Canadian Clean Fuel Standard (CFS) credit values will not come close to reaching the proposed programme’s maximum price over the next decade, even under a scenario that requires significant biofuels uptake, according to an analysis published Tuesday.

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WCI Q4 current vintage auction sells out at steep discount to secondary market

Published 21:44 on November 24, 2020  /  Last updated at 13:21 on November 25, 2020  /  Americas, Canada, US  /  No Comments

Last week’s WCI current vintage auction sold out for the first time since February, but the settlement was beneath traders’ expectations as compliance entities purchased fewer allowances than the prior sale, according to results released Tuesday afternoon.

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Rising CO2 price could accomplish half of Canada’s 2050 net zero goal -report

Published 21:23 on November 24, 2020  /  Last updated at 22:29 on November 24, 2020  /  Americas, Canada, Carbon Taxes  /  No Comments

Canada could reach its 2030 and 2050 emissions reduction goals by increasing its carbon price over the next two decades, with the country achieving more abatement if it phases out its output-based pricing system, a report said Tuesday.

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California gasoline sales dip in September as YoY trend rebounds at a slower pace

Published 16:18 on November 23, 2020  /  Last updated at 00:42 on November 24, 2020  /  Americas, Canada, US  /  No Comments

California gasoline consumption dropped in September from the prior month, but the year-on-year trend inched closer to 2019 levels, according to federal data released this week.

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California speculators cut carbon position by largest amount since May ahead of Q4 auction

Published 22:00 on November 20, 2020  /  Last updated at 22:00 on November 20, 2020  /  Americas, Canada, US  /  No Comments

Financial players cut their California Carbon Allowance (CCA) holdings before this week’s WCI auction as prices dropped on the secondary market, while regulated entities kept their position roughly unchanged, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

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California’s IEMAC targets December meeting for 2020 cap-and-trade recommendations

Published 19:23 on November 20, 2020  /  Last updated at 20:13 on November 20, 2020  /  Americas, Canada, US  /  No Comments

A California watchdog group plans to hold a mid-December meeting on its recommendations for the WCI-linked cap-and-trade programme, including possible automatic supply triggers to address growing concerns about the scheme’s allowance surplus, regulatory sources told Carbon Pulse.

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NA Markets: RGGI bull run continues on post-2020 outlook, CCAs dip ahead of auction results

Published 22:41 on November 19, 2020  /  Last updated at 22:41 on November 19, 2020  /  Americas, Canada, US  /  No Comments

RGGI Allowance (RGA) prices inched up on the secondary market this week on bullish outlooks for the post-2020 period, while California Carbon Allowance (CCA) values edged down slightly as traders await the results of the Q4 WCI auction.

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