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A. Trading Report

• Volume grows to 9,410,000, more than half on the current vintage
• Front-year prices hold steady whilst further deliveries see prices slide
• Again majority of contract creation occurs at the front

B. Price Expectations

• Consolidation of price stabilisation, front at $12.81, no significant departure expected.
• Longer funding rates fall slightly
• Expected V16 ranges: $12.79-$12.84 (Front); $13.18-$13.23 (Benchmark).

C. Sectorial Positions

• Energy & Power and refineries may provide sell-side interest

D. CCO Tracker

• 160,256 ROCs were assigned across two projects over the past week
• Two new verifier appointments under ARB compliance

E. Policy Tracker

• Legislative Session reconvened on January 4th
• New pair of Bills by Pavley drafted in response to Aliso Canyon Gas leak

F. Key Dates

• Feb 17, 6th Joint Auction held

Download this report (pdf)