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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 2 hours 8 min ago
Canada should favour carbon price over clean fuel standard -report
Adopting a federal clean fuel standard (CFS) is a costlier and less effective way for Canada to reduce GHGs than an economy-wide carbon price, according to a new study published on Thursday.
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CN Markets: Pilot market data for week ending Jul. 20, 2018
Below is a table of the closing prices, ranges and volumes for China's regional pilot carbon markets this week. All prices are in RMB, and volumes in tonnes of CO2e. Data sourced from local exchanges.
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NZ Market: Price ceiling in sight as NZUs keep pushing higher
New Zealand emissions permits extended record high levels again on Friday, with some market participants questioning whether the rally might take prices up to the NZ$25 de-facto price ceiling or even beyond.
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BHP Billiton coal mine earns 239k carbon credits
A subsidiary of Australian mining major BHP Billiton this week received nearly 240,000 carbon credits for capturing and combusting methane emissions from one of its coal mines in New South Wales.
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Australia’s weak NEG target to push up power prices -report
Australia’s main argument to stick to a modest emissions target under the proposed National Energy Guarantee (NEG) is to avoid electricity price hikes, but wholesale power prices could be 25% cheaper by 2030 with a more ambitious goal, analysts said on Friday.
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CP Daily: Thursday July 19, 2018
A daily summary of our news plus bite-sized updates from around the world.
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Ontario to join Saskatchewan in lawsuit against Canadian federal carbon price
Ontario Premier Doug Ford announced on Thursday that his province will join Saskatchewan’s lawsuit to stop the implementation of the Canadian federal government’s ‘backstop’ carbon pricing scheme, setting up a showdown with Ottawa over the legality of its national climate plan.
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NA Markets: Markets stall amid summer lull
US carbon markets were mostly unchanged over the course of the week amid a summer holiday season in full swing.
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California LCFS credits set new records as $190 mark nears
California Low Carbon Fuel Standard (LCFS) credits broke out of a relatively stagnant stretch this week to push into new territory after one trade drove the market higher.
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Finnish utility Fortum reports 7% dip in its H1 EU ETS emissions
Finnish utility Fortum emitted 1.4 million tonnes of CO2 from its EU ETS-regulated facilities over the first half, down 7% year-on-year, it said in financial results on Thursday.
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EU Market: EUAs close in on €17 after hitting new seven-year high
EU carbon prices climbed to their highest since 2011 on Thursday, as higher power prices and another stronger auction lent support.
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China to open power market to major polluting industries
Four of China’s biggest industries will join the nation’s burgeoning power market, allowing them to negotiate prices bilaterally as part of the government’s market reform, a process deemed crucial for the chances of the national ETS to succeed in cutting carbon from electricity generation.
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NZ Market: Momentum pushes NZUs to yet another record high
New Zealand carbon allowances set an all-time high for the seventh time in a month on Thursday as bullish momentum continued to lead prices up.
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EUAs to double by 2020, with prices above €100 “a real possibility” -analysts
EU carbon prices will continue their rally and will double in the next two years, with a rise above €100 in the next decade “a real possibility”, analysts said.
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CP Daily: Wednesday July 18, 2018
A daily summary of our news plus bite-sized updates from around the world.
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European carbon traders posit cause of surprise CER price surge
CERs surged to a 20-month high on Wednesday, accelerating a recent rally that has seen prices double in the past four months and which has left many traders scratching their heads.
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EU Market: EUAs build on stronger auction to close in on 7-year peak
EU carbon rose steadily on Wednesday to close at their highest in seven years, as a stronger auction boosted confidence that prices would extend recent highs.
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New York power sector CO2 price would not apply until Q2 2021 -grid operator
A successful effort to introduce a carbon charge in New York’s wholesale electricity markets separate to RGGI would take nearly three years to take effect, according to the state’s grid operator NYISO.
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Brussels sets steel import limits to ease fears for EU producers
The EU will from Thursday impose measures aimed at curbing a surge of steel imports diverted from the tariff-setting US, quelling fears that ETS-covered domestic production could be affected.
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UPDATE – Dutch CO2 price floor to have minimal effect on net emissions -study
A Netherlands carbon price floor would have a minimal impact on cutting emissions, a study commissioned by the Dutch government found, while rapidly-increasing EU Allowance prices suggest the effect of the floor, as it is currently designed, may never be felt.
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