Carbon Pulse
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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 1 hour 46 min ago
UK utility SSE sees emissions rise on greater gas balancing role
UK utility SSE saw its ETS-covered thermal power output rise 16% over the six months through September as the company’s gas plants were called on more often to balance the grid, the company said on Wednesday.
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GOP Senate majority would yield long odds for US clean fuel standard
A federal low-carbon fuel standard (LCFS) is unlikely to materialise unless Democrats can win both Georgia Senate seats up for grabs in a January run-off election, a conference heard Wednesday.
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Grid operators, fossil fuel states differ on US FERC carbon pricing statement
Stakeholders drew competing views of the US Federal Energy Regulatory Commission’s (FERC) proposed policy statement last month on CO2 pricing, with wholesale power grid operators supporting the move and fossil-fuel heavy states encouraging a more cautious path forward.
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Over 35 mln EUAs could be added to 2021 auction supply after going unused by utilities
More than 35 million additional carbon allowances left over from Phase 3 of the EU ETS (2013-20) could be auctioned next year, the European Commission confirmed on Wednesday.
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Poland’s PGE posts 3.2% fall in CO2 output as carbon costs squeeze margins
Poland’s utility PGE posted a 3.2% year-on-year fall in CO2 output over the first nine months as its carbon costs weighed on the company’s coal generation.
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By the numbers: A snapshot of the EU ETS – 2019-20 edition
The European Commission on Wednesday adopted its annual report on the functioning of the EU ETS, which covered the market’s developments in 2019 and into 2020, as well as summarising measures proposed or agreed this year.
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TCI jurisdictions evaluating impact of COVID-19, but remain committed to carbon market
The Transportation & Climate Initiative (TCI) jurisdictions are evaluating the impact of the coronavirus pandemic on the cost-benefit analysis of the proposed fuel sector cap-and-trade scheme, but regulatory sources do not believe support for the regional US programme is wavering.
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COMMENT: Has EU carbon rounded the corner?
We are now in the last four weeks of the Dec-20 EUAs' reign as the front-year futures contract. There are fewer than 25 daily auctions left this year, and yesterday (Nov. 17) we were told that the European Commission won’t be starting 2021 EUA auctions until the end of January or even early February.
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EU Market: EUAs soar to two-month high on auction delay news
EUAs leapt more than 5% to a two-month high on Wednesday on news that the start of the 2021 auctions would be delayed.
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Switzerland signs second carbon offset deal with Ghana
Switzerland has agreed a bilateral deal with Ghana to purchase carbon offsets under the Paris Agreement’s Article 6, in the second such agreement announced by the European nation in as many months.
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CO2 removals will not be included in EU carbon market -senior official
The EU is not planning to include carbon removals certificates in the EU ETS, a European Commission senior official clarified on Wednesday as its climate department works on designing its first system to certify removals.
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CP Daily: Tuesday November 17, 2020
A daily summary of our news plus bite-sized updates from around the world.
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Stakeholders see pathways for LCFS and CO2 pricing programmes in Washington, New York
Washington state Democrats are optimistic that reintroduced low-carbon fuel standard (LCFS) and cap-and-trade bills could pass in the 2021 legislative session, while a New York environmental advocate believes the state could implement a clean fuels programme as early as 2022.
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California may need to drop electric vehicles from the LCFS in the 2030s -ARB board member
The anticipated growth in electric vehicle deployment over the coming decades may eventually require California to drop the credit generator from the state’s Low Carbon Fuel Standard (LCFS), a board member of regulator ARB said Tuesday.
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British PM Johnson unveils 10-point climate plan to spark new, ‘green’ industrial revolution
British Prime Minister Boris Johnson on Tuesday unveiled a 10-point plan to mobilise tens of billions of pounds in public- and private-sector investment and spark a “green industrial revolution” in the country.
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EU carbon prices to end 2020 on a high -analysts
EU carbon prices will continue on their upward trajectory through the end of the year, despite the ongoing pandemic and economy downturn, before EUAs average above €35 in 2021, analysts forecast on Tuesday.
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Analysts lower 2020 WCI emissions forecast on strained rebound for fuel, power sectors
The California-Quebec carbon market will experience further GHG abatement in 2020 due to a slower recovery in gasoline and electricity demand than previously expected and more efficient gas plants running in the Golden State, analysts said in a report published Tuesday.
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EU Market: EUAs give back Monday’s gains, but big upside seen tomorrow from late-breaking news
European carbon sank on Tuesday on profit-taking and policy and coronavirus concerns, as a late decline saw prices give back all of the previous day’s gains, though traders said EUAs could spike tomorrow on late-breaking bullish supply-related news.
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Virginia industries argue clerk error should not vacate lawsuit challenging RGGI regulation
A clerical error caused a Virginia business group to fail to pay the appropriate filing fee on a lawsuit challenging the state’s RGGI-modelled carbon market regulation, but the mistake should not void the case, according to court records.
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UN’s IMO strikes shipping emissions deal that lets maritime GHGs keep rising
Nations agreed a global maritime deal at the UN’s IMO on Tuesday that would allow the sector’s emissions to rise for another decade, a move that could strengthen the EU’s resolve to take tougher action in its own waters.
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