Carbon Pulse

Power sector emissions under the RGGI ETS fell during the first quarter of 2019 as mild weather in the US northeast reduced electricity demand from carbon-intensive units, according to preliminary data from the regulator.

Credit generation outpaced deficits in the California Low Carbon Fuel Standard (LCFS) programme for the first time in over a year during the fourth quarter of 2018 due to an influx of renewable diesel and biodiesel credits. 

The UK government’s £120 million (€140 mln) loan to British Steel was an exceptional bailout due to Brexit delays and all UK entities have now complied with their 2018 EU ETS obligations, Britain’s business minister told the country’s parliament on Wednesday.

Danish utility Orsted reported a 31% drop in its bioenergy and EU ETS-regulated thermal power and heat output in Q1 2019 as demand slumped due to warmer weather combined with the company’s gradual move away from fossil fuels.

New Zealand’s interim Climate Change Commission has submitted to the government its recommendation on whether agriculture should be in the ETS, but publication of the advice will be delayed amid reports the ruling coalition partners have struck a separate deal for methane emissions.

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US Northeast and Mid-Atlantic states should establish a cap-and-trade programme with a floor price that regulates fuel emissions high in the supply chain, several experts said at the Transportation and Climate Initiative's (TCI) first workshop on Tuesday.

EUAs remained above €26 on Tuesday as stronger auction demand lent support on the 2018 compliance deadline day to notch a huge 22% monthly gain.

The UK government has agreed to give a £100 million emergency loan to British Steel to help it buy enough EU ETS allowances to cover 2018 compliance, Sky News reported late Tuesday, citing unnamed sources.

California Low Carbon Fuel Standard (LCFS) programme participants offered competing opinions on regulator ARB’s proposal to explore a price ceiling and an advance crediting system, as some said the concepts will hurt future clean fuel investments and unfairly favour utilities.

The EU should consider tying trade deals to climate action and using carbon border adjustments to help its industry compete globally as it strives to decarbonise, according to European trade association BusinessEurope, ending its longstanding opposition to border tariffs.

Fresh supply will enter South Korea’s carbon market from several sources over the next few weeks, but this won't be enough to satisfy demand, analysts said Tuesday as KAU prices again briefly rose to all-time highs.

The Gold Standard Foundation on Tuesday announced it has appointed a new chief executive, who will join the organisation from the Global Green Growth Institute.

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Bloomberg New Energy Finance (BNEF) has hired a new carbon market analyst, Carbon Pulse has learned.

A US federal appeals court on Friday announced it will hear a biofuel trade group’s request to prevent the EPA from issuing any more compliance waivers under the Renewable Fuels Standard (RFS) until its own pending lawsuit against the agency’s use of these exemptions is resolved.

Pennsylvania’s Department of Environmental Protection (DEP) recommended Monday developing a power sector ETS in a possible nod to joining the northeast US RGGI programme, only weeks after a state agency agreed to study a green group’s economy-wide cap-and-trade petition.

Analysts have hiked their near-term EUA forecasts by 33% on renewed confidence that speculators are making bullish bets while the risk of a no-deal Brexit has subsided considerably.

Washington state’s legislative session drew to a close on Sunday without lawmakers having endorsed proposals for a low-carbon fuel standard (LCFS) or various forms of carbon pricing, despite last ditch efforts to include a scaled-down version of the clean fuels programme.

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