Carbon Pulse

A London-based hedge fund has booked a better than 50% return for 2018 thanks to a bullish gamble on EU carbon prices.

The first EU carbon allowance auction of the MSR era cleared well below market on Monday as bidders showed caution.

Twelves entities opened Compliance Instrument Tracking Service System (CITSS) accounts for the WCI cap-and-trade programme during the fourth quarter, as the total number rose to 676, according to California Air Resources Board (ARB) data.

California utility Pacific Gas & Electric (PG&E) is exploring the possible sale of its natural gas division or possibly filing for bankruptcy to help pay off possible liabilities stemming from a deadly wildfire late last year, according to media reports.

A daily summary of our news plus bite-sized updates from around the world.

California and Quebec entities were holding nearly 177.8 mln surplus carbon allowances at the end of the fourth quarter of 2018, with a bulk of those credits residing in general accounts, according to WCI data.

California state agencies released a draft climate change plan for natural and working lands (NWL) on Thursday that would lead to a near-term jump in the sector's emissions to ensure deeper cuts later on.

California fuel sector emissions likely declined nearly 1% over the first nine months of 2018, pointing to lower demand in the WCI carbon market from the sector that may only be partially offset by an uptick in the state’s power emissions, according to Carbon Pulse estimates.

European carbon prices rose on Friday amid wider market gains, recovering some ground lost in Thursday’s 8% rout, though traders warned of more choppiness ahead.

California’s ARB resubmitted its Low Carbon Fuel Standard (LCFS) amendments to the Office of Administrative Law (OAL) late Thursday and asked for a quick approval after unexpectedly withdrawing the regulation prior to its final approval and implementation.

Closing prices, ranges and volumes for China's regional pilot carbon markets this week.

A daily summary of our news plus bite-sized updates from around the world.

California’s ARB withdrew its Low Carbon Fuel Standard (LCFS) amendments from the Office of Administrative Law (OAL) for an undisclosed reason ahead of the regulations final approval and implementation.

California Carbon Allowances (CCAs) and RGGI allowances (RGAs) saw little activity over the holiday break as CCAs are expected to remain rangebound in the near term while RGAs could see further boosts from colder weather and amendment approvals.

Massachusetts finalised its post-2020 RGGI Model Rule changes shortly before the end of 2018, leaving only three states left to approve the alterations.

European carbon prices plummeted by almost 7% on Thursday, with traders dumping length on what market participants said was a myriad of contributing factors.

A former carbon trader at PetroChina’s London desk has joined Engie as head of carbon and power trading in the Greater China region.

A daily summary of our news plus bite-sized updates from around the world.

The Washington Department of Ecology (ECY) will ask the state Supreme Court this spring to overturn a lower court’s block of Governor Jay Inslee’s (D) market-based regulation for large emitters, potentially offering the state a fresh chance to put a price on carbon after multiple failed attempts in recent years.

California regulator ARB is considering changes to its forestry offset protocol and potentially adding a grassland methodology as it looks to increase the supply of credits with a direct environmental benefit to the state, a registry source said.