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RGGI Weekly Commentary: RGAs remain strong above the CCR trigger price – cCarbon expects a majority of CCR allowances to be released on March 13th

March 4, 2024Created By: Megha Jha

This Week’s Highlights RGAs report a negligible decline in V24 allowance prices and volumes traded over the week ahead of the Q1 2024 auction. Auction 63 is set to be held next week on March 13, 2024, Wednesday and results are expected to be announced by March 15, 2024, Friday…....

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CCA Weekly Commentary: CCAs show a slight dip – as nervousness remains high after the postponement of CARB’s LCFS board meeting

March 4, 2024Created By: Megha Jha

This Week’s Highlights CCAs declined over the week following the uptick observed post-auction on high settlement price last week. California surpassed 100,000 public and shared private electric vehicle chargers installed statewide. Intercontinental Exchange (ICE) CCA V24 Front on Friday closed at $40.78 losing 0.49% over the week. ICE weekly volume…...

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RGGI Weekly Commentary: RGAs remain stable over the week; Virginia’s Floyd County circuit court judge allows lawsuit seeking to re-instate RGGI in Virginia

February 20, 2024Created By: Megha Jha

This Week’s Highlights Market investors persist in maintaining cautious optimism regarding the anticipated release of the Third Program Review draft post-auction. Bacon’s Rebellion, a leading politically non-aligned portal for news in the state, Virginia circuit court judge allows lawsuit seeking to reverse Virginia’s RGGI withdrawal – cCarbon sees a low…...

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CCA Weekly Commentary: CCAs retreat from price rally as investors turn bearish ahead following CARB’s postponement of LCFS board meeting

February 20, 2024Created By: Megha Jha

This Week’s Highlights CCAs report price decline for the second consecutive week, the market eyes the LCFS board meeting and cap-and-trade draft release. LCFS program board meeting postponement to at least May 2024 – a cause of concern to the Cap-and-trade – LCFS program seen as a pre-cursor to Cap-and-trade…...

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EU ETS Sees Record Low Prices: What’s Driving the Plunge?

February 14, 2024Created By: Arpit Beniwal

Key Takeaways Amid fear of recession and decreased emissions, the European carbon prices reached record low. Strong positive correlation observed between EUA and gas prices, with gas price declines influencing EUA trends. Gas usage in power generation rises, replacing coal, while renewables like hydro and wind drive emissions reduction. Short-term…
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EU ETS and UK ETS Weekly: EUA drops further to €59.56; Commission urges 90% emissions cut by 2040 & unveils Industrial Carbon Management Strategy

February 12, 2024Created By: Arpit Beniwal

This Week’s Highlights Weekly average EUA prices fell by 2.1[ % in the sixth week of 2024 driven by continuous decline in power emissions. This consistent downward trend is in line with the transition from coal to gas and the growing adoption of renewable energy sources. EU’s Climate Ambition: Commission targets…...

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RGGI Weekly Commentary: RGA allowance prices decline 1.52% over the week; RGGI emissions decline by 8 M tons in 2023 – driven by a reduction in coal generation

February 12, 2024Created By: Megha Jha

This Week’s Highlights RGGI states reported declining emissions by 8 M short tons or 7.21% from 2022 levels. Maryland, New York, and Virginia led the way in achieving the highest emission reductions in 2023, with Rhode Island being the sole state experiencing an increase in emissions over the same period…....

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CCA Weekly Commentary: CCAs retreat 1.48% ahead of Wednesday’s auction along with an increase in investor short positions; cCarbon expects JA38 auction to settle above $41.50

February 12, 2024Created By: Megha Jha

This Week’s Highlights CCAs decline ahead of the Q1 2024 auction, CFTC data shows an increased bearish investor sentiment in the market. Governor Gavin Newsom certified the Easley Renewable Energy Project, in Riverside County. The project invests nearly $300 million in California’s economy and is the first clean energy project…...

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RGGI covered emissions decline sharply, but “coal-switching” has been exhausted

February 9, 2024Created By: Megha Jha

Key Takeaways Coal electricity generation in RGGI states has been largely phased out and the previous opportunity for emission reduction through coal is no longer applicable. RGGI states must accelerate their adoption of renewable energy sources to meet their emissions targets. Emissions decline across RGGI states, down by 8 M…...

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EU ETS and UK ETS Weekly Commentary: Weekly average EUA hits near-two-year low at €60.85, UKA inches up to £34.55; European Commission likely to reveal its 2040 climate target on 6th February

February 5, 2024Created By: Arpit Beniwal

This Week’s Highlights cCarbon EUA weekly short term price forecast for the coming four weeks is expected to be between €58.35 and €62.48, implying further price slides. Weekly average EUA prices fell by 0.65% in the fifth week of 2024 driven by continuous fall in power emissions, aligning with falling…...

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