Weekly Carbon Outlook – Sep 11, 2017

September 11, 2017 by Ronjoy Bezbarua

(See below to download report)

Trading Report

  • CCA prices dipped significantly, closing at $15.22 for the front (V17 Sep17) and $15.32 for the benchmark (V17 Dec17)
  • OCA Dec 17 benchmark prices rose to CAD 18.57 (USD 15.31)
  • OI saw a positive net change of 1,390,000 contracts
  • Traded volumes decreased to 3,154,000 tons

Price Expectations

  • A resistance level near USD 15.30 seen materializing on the current front
  • A rapid convergence towards the four week moving average for both current front and benchmark indicates trend reversal

CCO Tracker

  • The backlog of ROCs stands at 41.25 million
  • Western Rivers Conservancy gained over 9.8K ROCs through its Blue Creek (ACR282) Forestry (IFM) project
  • Offset prices saw a rise in prices with CCO 8s and CCO 3s gaining the highest

Policy Tracker

  • AB 398- (Garcia, De León) Extension of Cap-and-Trade from 2020 – 2030 with the introduction of a price ceiling, price containment points, reduced offset usage and revisions of industry assistance factors.
  • 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.
  • SB 498- (Skinner) Beginning no later than 2024-2025 fiscal year, at least 50% of the light-duty vehicles purchased for the state vehicle fleet each year must be zero emission vehicles.

Key Dates

  • Sep 13 –Results of 3rd auction of greenhouse gas allowances for the Ontario cap and trade market.

Download this report (pdf)

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