UPDATE – US Carbon Pricing and LCFS Roundup for week ending September 24, 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 Oregon, New York, and Virginia.
Read MoreLCFS Market: California credits recede toward $160 as bearish factors weigh
California Low Carbon Fuel Standard (LCFS) credit values declined closer to the $160 mark on Thursday, recording multi-year lows as bearish factors continued to apply topside pressure.
Read MoreRepublicans express concerns about intervention in “wild west” voluntary carbon market through US ag offset bill
The US House Agriculture committee heard testimony Thursday on a bipartisan bill to boost voluntary carbon offset markets for agriculture, but some Republicans were concerned about the perceived “wild west” nature of current mechanisms and government intervention in the space.
Read MoreDominion seeks denial of RGGI proceeding reconsideration for lack of merit
Virginia utility Dominion Energy asked the State Corporation Commission (SCC) to reject a petition from an environmental group to reconsider approval of a rate request to recoup $168 million for RGGI-related costs, according to a regulatory filing.
Read MoreNA Markets: California carbon re-tests all-time high, RGGI inches to new record
California Carbon Allowance (CCA) values flirted with recent record highs this week after recovering from a brief dip, while RGGI Allowance (RGA) prices eked out their own fresh all-time high on lighter volume.
Read MoreDirectors dash from ICIS as analysis firm deals with mounting resignations
Two directors have resigned from ICIS, Carbon Pulse has learned, with the commodity market intelligence firm also losing at least two senior carbon analysts in recent months.
Read MoreUS carbon border adjustment bill could be non-WTO compliant -experts
A federal bill introducing a US carbon border adjustment mechanism (CBAM) may not pass WTO muster in the absence of a nationwide CO2 price, experts said Wednesday.
Read MoreCalifornia compliance offset issuances sink to a fresh three-month low
California offset issuances sunk to a three-month low as state regulator ARB distributed nearly 179,000 credits across 10 reporting periods, according to data published Wednesday.
Read MoreRFS Market: RINs dive beneath $1 on reports of multi-year biofuel quota cuts
US biofuel credit (RIN) values declined to seven-month lows on Wednesday after news outlets reported President Joe Biden’s (D) administration is mulling multi-year cuts to Renewable Fuel Standard (RFS) biofuel volumes.
Read MoreUS lawmaker sees need, pathway for CO2 pricing in budget reconciliation bill
Carbon pricing could help alleviate funding issues involved in US Democrats’ proposed $3.5-trillion budget reconciliation bill, while the mechanism could also ensure the US reaches the long-term climate goals laid out by the Biden administration, a panel heard Wednesday.
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