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North American Carbon Market Review: June 2023

June 1, 2023Created By: Megha Jha

Western Climate Initiative: CCA front gained $0.21 over the month, ending at $30.80. CAISO approved the 2022-2023 Transmission Plan, paving the way for renewable integration and grid reliability. Governor Newsom unveiled California’s ambitious Clean Energy Transition Plan. Regional Greenhouse Gas Initiative: RGGI prices experienced a steady increase through April end…...

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Examining California’s Cap-and-Trade Program Review, Washington’s Challenges, and New York’s Emerging Framework

June 1, 2023Created By: Megha Jha

cCarbon recently discussed the outlook on California, Washington, and New York’s cap-and-trade programs with Jon Costantino. Jon is a frequent contributor to cCarbon.info. He is the CEO and principal at Tradesman Advisors, Inc., and a former CARB Climate Change Planning Manager. Key Takeaways: Program Review Update: CARB is expected to…...

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Demystifying the German Pseudo ETS: No Market pricing, Banking or Offset Integration until 2026

May 31, 2023Created By: Craig Rocha

Key takeaways: The German National ETS (nEHS) increases coverage of carbon price in Germany from 50.20% to 87.80%. The program covers fuels in the transportation and building sectors. The ETS will have fixed prices till 2025, 2026 will see trading start in a price corridor, followed by a market driven…
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CCA Weekly Commentary: CCAs continue upward climb; CARB announces a workshop on the Cap-and-Trade program on June 14

May 30, 2023Created By: Megha Jha

Summary: CCA front on Friday closed at $30.80 gaining $0.20 over the week. ICE weekly volume was reported as 19.29 M tons (+36.3% WoW) and the 4-week moving average was reported as 17.95 M tons. CFTC: OI increased by 3 M tons; compliance entities increased long positions by 1.07 M…...

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RGGI Weekly Commentary: RGGI prices witness an uptrend ahead of the 60th auction; RGGI Secondary Market Report Reveals Decline in Carbon Allowance Trading in Q1 2023

May 30, 2023Created By: Megha Jha

Highlights RGGI weekly average settlement price: $13.61 (+2.56% WoW) ICE weekly volume was reported as 7.15 M tons (+107.6% WoW) CFTC: OI decreased by 1 M ton; Managed Money decreased short positions by 1 M tons Summary RGGI observed a sharp increase in prices early last week and closed the…...

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WCA Commentary #06: No Trades ahead of May 31st Auction; cCarbon Forecasts a Fully Subscribed Auction Clearing at $51.90

May 30, 2023Created By: Mira Dhandra

Summary:  WCA front on Friday closed at $60.50, that saw a decrease of $0.12 over the week.  Nodal volume pulse went flat as no volumes were traded in the last week. CCarbon outlook for WCA#2 auction – Fully subscribed auction with a clearing price of $51.90, resulting in an APCR…...

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EU ETS Weekly Commentary: Weekly average EUA prices have decreased in the last week by 3.37% to €85.16

May 30, 2023Created By: Shubhangi Sharma

Summary: Weekly average EUA prices have decreased in the last week by 3.37% from €88.71 to €85.16. cCarbon EUA weekly short term price forecast for next four weeks is expected to be between €88.55-€91.16. Dutch TTF December’23 futures are almost double of the June’23 contract which indicates towards the bullish…...

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WCI Q2 auction (JA35): Muted auction clears at $30.33 as the market waits to see how the regulatory landscape unfolds

May 26, 2023Created By: Megha Jha

Key Takeaways: The settlement price for the current auction was $30.33 MtCO2 with a bid-to-cover ratio of 1.75. The advance auction settled at a price of $30.05 with a bid-to-cover ratio of 2.63 This auction recorded 120 qualified bidders with 93 from California and 27 from Quebec Financial participation increased…
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Washington’s Ecology Accepts Industry’s Inputs on Electricity Imports, No Immediate Adoption of Changes

May 25, 2023Created By: Mira Dhandra

On Thursday, Ecology responded to the white paper “Consideration of Electricity Imports and Determination of the Electricity Importer Under the Climate Commitment Act”, dated March 1, 2023.   A short summation of Ecology’s reply: Ecology concurs with the white paper’s identification of electricity imports that must be reported under the Climate…...

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East coast states headed for an offshore wind boom – RGGI states to see accelerated electricity sector decarbonization

May 25, 2023Created By: Megha Jha

Key Takeaways: Offshore wind is emerging as a key player in the United States’ transition to clean and sustainable energy. East Coast states are leading the way in offshore wind development, expected to meet 2% of current US electricity demand in 2029 through offshore wind energy. The U.S. has two…
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