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cCarbon News Round-up

Daily Newsletter

In This Newsletter

1. EU ETS and UK ETS Weekly Commentary
2. CCA Weekly Commentary
3. RGGI Weekly Commentary
4. WCA Commentary #22

5. Daily Price Change
6. Upcoming Webinars
7. Latest Insights

  • cCarbon EUA weekly average projection of €81.59 for the past week, closely mirrored the actual price of €81.87.
  • Weekly average EUA prices increased in the last week by 0.80% from €81.28 to €81.87.
  • cCarbon EUA weekly short term price forecast for next four weeks is expected to be between € 83.16-€ 84.44.
  • Dutch TTF weekly average increased by around 4.5% and Rotterdam coal by 1.92% in the last week.
  • ESMA- Open interest for EUA futures increased by 1.49% at ICE Endex and increased at EEX by 0.48% 8th September to 15th September 2023.
  • Weekly average UKA benchmark decreased substantially in the last week from £38.67 to £35.43. Week witnessed new all-time low of £33.75.
  • ICE Futures Europe- UKA open Interest increased from 46.02 million to 49.32 million from 8th September to 15th September.
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  • ICE CCA V23 Front on Friday closed at $36.85 declining 0.11% over the week.
  • ICE (Intercontinental Exchange) weekly volume was reported as 37.25 M tons (+102.99% WoW) and the 4-week moving average was reported as 22.87 M tons.
  • CFTC: OI rose by 1.73 M tons; compliance entities decreased long positions by 0.94 M tons, and managed money increased short positions by 0.04 M tons.
Click to Read
  • RGGI weekly average futures settlement price: $14.44 (+0.56% WoW)
  • ICE weekly volume was reported as 3.18 M tons (-99.25% WoW)
  • CFTC: OI up by 2.53 M tons; Compliance entities increased long positions by 1.48 M tons, and managed money increased short positions by 0.01 M tons
Click to Read
Key Takeaways: 
  • WCA prices declined over the week- the front on Friday closed at $53.12, a decline of $2.73 was observed.
  • Volume of WCAs traded on exchanges – Nodal and ICE (Intercontinental Exchange) recorded 733 contracts which showed a decline by 209 contracts over last week.
  • Ecology to release 5 million APCR allowances at Tier 1 price of $51.90 in the upcoming November APCR auction.
  • A preliminary decision on linkage is expected to be taken by Ecology’s Director Laura Watson by October this year.
  • WA Senator Mullet releases legislative proposal to amend WA cap and invest rules – loosening the Cap reduction from 7% annually to 3.6%. The bill also includes a proposal to increase the APCR supply pool available to Ecology.
Click to Read
On Friday, there was a rise of $0.12 in CCA prices, an increase of $0.06 in RGGI prices, and a rise of $2.82 in the LCFS prices.

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cCarbon (pronounced ‘see-carbon’) was launched in 2012 as CaliforniaCarbon, catering initially to the WCI market. Since then, we have grown to provide comprehensive coverage across compliance carbon markets across North American, as well as the global Voluntary Offsets markets. We provide business intelligence, analytics and forecasts for our clients.

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Disclaimer: cKinetics is the lawful owner and operator of domain name cKinetics has taken due care and caution in compilation and reporting of data as has been obtained from various sources including which it considers reliable and first hand. However, cKinetics does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the users of this report. This research and information does not constitute recommendation or advice for trading or investment purposes and therefore cKinetics will not be liable for any loss accrued as a result of a trading/investment activity that is undertaken on the basis of information contained in this report. cKinetics does not consider itself to undertake Regulated Activities as defined in Section 22 of the Financial Services and Markets Act 2000 and it is not registered with the Financial Services Authority of the UK.

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