NA Markets: Cali. allowances decline after Q4 sale as RGGI finds support ahead of auction
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.
Read MoreCalifornia distributes 158k offsets in smallest issuance since July
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.
Read MoreWCI emitters’ capital, emissions outlook could have played factor in Q4 auction buying
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.
Read MoreCanadian CFS prices to remain well under compliance fund value through 2030 -analysis
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.
Read MoreWCI Q4 current vintage auction sells out at steep discount to secondary market
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.
Read MoreRising CO2 price could accomplish half of Canada’s 2050 net zero goal -report
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.
Read MoreCalifornia gasoline sales dip in September as YoY trend rebounds at a slower pace
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.
Read MoreCalifornia speculators cut carbon position by largest amount since May ahead of Q4 auction
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.
Read MoreCalifornia’s IEMAC targets December meeting for 2020 cap-and-trade recommendations
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.
Read MoreNA Markets: RGGI bull run continues on post-2020 outlook, CCAs dip ahead of auction results
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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