Weekly Carbon Outlook – Oct 30, 2017

October 30, 2017 by Ronjoy Bezbarua

(See below to download report)

Trading Report

  • CCA prices rose from mid-week to Friday, closing at USD 15.33 for the front (V17 Oct17) and USD 15.34 for the benchmark (V17 Dec17) with a weekly gain of USD 0.08
  • OCA Dec 17 benchmark prices rose to CAD 19.71 (USD 15.31)
  • OI saw a positive net change of 2,709,000 contracts
  • Weekly traded volumes rose sharply to reach 11,636,000 tons
  • The front changed on 27th October to V17 Nov17

Price Expectations

  • Indicators point to an upward momentum for prices this week albeit a short dip
  • Liquidity this week is expected to peak before market falls quite for the next 2 weeks.
  • November auction could see auction clearing price near US$15.00

CCO Tracker

  • Over 200K ARBOCs were issued to three projects over the past week by ARB
  • 139K credits issued to Tradewater ODS 7 (ACR383)
  • CCO prices have continued to increase over the last 2 months
  • The backlog of ROCs now stands at over 30.8 million

Policy Tracker

  • SB 100- (Kevin de León) The California Renewables Portfolio Standard Program would double up California’s renewable energy ambition, mandating 100% RE procurement by 2045. It got amended in Assembly on 11th Sep 2017
  • SB 498- (Skinner) Beginning no later than 2024-2i025 fiscal year, at least 50% of the light-duty vehicles purchased for the state vehicle fleet each year must be zero emission vehicles. It was passed in Senate on Sep 14 and enrolled on Sep 19th

Key Dates

  • Nov 2 – Public workshop to discuss proposed amendments to the Heavy-Duty On-Board Diagnostic (HD OBD) regulations


Download this report (pdf)

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