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Trading Report

• Volume low at 3,709,000 despite record volume cleared at auction
• Price reacts $0.07 down to results
• Open interest down by net 60,000 contracts

Price Expectations

• Price now begins protracted climb to next year’s floor
• Single year funding rates rise to 2.81% after Fed hints
• Expected V16 ranges: $12.81 – $12.86 (Front); $12.81 – $12.86 (Benchmark)

CCO Tracker

• 618k ARBOCs issued in November’s last issuance.
• The Passamaquoddy Tribe IFM project generates 550k
• 292k CCO8s have invalidated period shortened to 3 years
• 500k new credits added to the registries
• 186k ROCs issued to forestry conservation projects
• 23 million offsets remain eligible for future compliance assuming 7.9% usage for 2015.

Policy Tracker

• SB 32, AB 197, SB 1386, AB 33 signed by Governor, legislature resumes in 2017

Key Dates

• Dec 1 – ARB announces 2017 reserve price

Download this Report (pdf)