Carbon Pulse

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

New RGGI speculators recently began to offload positions built earlier this year, while compliance entities sought allowances prior to a US heatwave, Commodity Futures Trading Commission (CFTC) data showed.

More stringent electricity benchmarks for new natural gas plants under Canada’s ‘backstop’ output-based pricing system (OBPS) may still be slow to incentivise greater renewables usage and could also exacerbate dispatch decisions of more carbon-intensive fuel types under the programme, economists said.

California Low Carbon Fuel Standard (LCFS) prices declined Monday from recent highs hit this year, as state regulator ARB will soon reveal more details about a potential hard cap for credit prices.

European carbon prices hit a four-day high above €29 on Monday before the latest rally ran out of steam on a bearish auction result and sliding energy prices.

US Steel will lay off 2,500 workers at its large steel mill in Slovakia over the next two years, the company announced on Friday, blaming high EU carbon and power prices.

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

Poland’s parliament passed a bill on Friday to compensate its EU ETS-covered industry for indirect carbon costs, making good on a government plan announced nine months earlier when carbon prices first surged towards €30.

The New York Independent System Operator (NYISO) is delaying the finalisation of its carbon charge on its wholesale power market until this fall as it awaits further analysis on the state’s recently approved carbon neutrality legislation.

A Colorado agency will commence a study this fall on the technical and economic feasibility of implementing a low-carbon fuel standard (LCFS) in the western US state, a government official said.

Switzerland’s energy-related CO2 emissions continued falling in 2018, the government announced this week, though the decline was again mostly seen in the consumption of thermal fuels as transportation’s output was unchanged.

Two Nordic utilities reported rises in EU ETS-covered output over the first half of 2019 as their thermal facilities ramped up to cover lower hydro generation, though they said fossil-based production may ease for the rest of the year as reservoirs have since filled.

European carbon prices emphatically rebounded from a six-day low on Friday's bullish auction result and forecasts of an impending heatwave, with buyers also taking comfort from strong technical signals.

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

Norway and Suriname are said to be exploring an arrangement where the South American country would earn carbon credits for keeping its tropical forest intact, according to a local news report.

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

New York Governor Andrew Cuomo (D) announced the selection of two offshore wind power projects on Thursday to meet the state’s enhanced zero-carbon electricity goals, a move that could reduce future compliance obligations from the state in the northeast US RGGI cap-and-trade programme.

The northeast US RGGI scheme plans to hold training courses and release guidance documents to help onboard New Jersey compliance entities prior to the state’s entrance into the regional power sector ETS next year, an official said.

California Carbon Allowance (CCA) prices fell for the second consecutive week as new speculators remained on the sidelines, while RGGI allowances (RGA) rose slightly on higher transacted volume in the northeast US carbon market.

The UK has launched a consultation looking into mandating all transport providers to offer passengers the chance to offset their journeys over land, air, and sea to help bring down the sector’s carbon emissions.