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Market Challenge
An increasing number of new carbon fuel regulations requires complex compliance. Climate change mitigation policy has already been introduced in California and several states along the East Coast (RGGI), as well as in Canada. These policies impose costs on businesses that span fuel production and trading to power generation. All of these developments create the need for more granular market intelligence.
How We Help
The OPIS Carbon Market Report covers the environmental markets affecting fuel trading and transportation, including California carbon allowances (CCA) and offsets (CCO), California and Quebec cap-at-rack (CAR) values, LCFS and RINS credits, along with periphery programs, such as the RGGI and EU ETS.
OPIS Carbon Market ReportManage environmental compliance costs with pricing, news and analysis on affected markets
As the U.S. West Coast pricing benchmark, OPIS provides the best assessment of the growing cost of compliance with AB32 programs.
Benefits
— See all environmental credit costs in a single report, eliminating multiple sources
— Assess future compliance costs with extensive forward-market discovery
— Track historical prices to identify trends and mitigate risks
— Monitor trades with a market deal log
— Never miss changes to compliance obligations with real-time news alerts
W H O W E H E L P
TradersTransportationRefiners
C O M M O D I T I E S
RenewablesGasolineDieselJet Fuel
M A R K E T S E G M E N T S
SpotRack
Copyright © 2017 IHS Markit. All Rights Reserved
© Copyright by Oil Price Information Service (OPIS), an IHS Markit company, 9737 Washingtonian Blvd. Suite 200, Gaithersburg, MD 20878. The OPIS Carbon Market Report is published each business day. OPIS does not guarantee the
accuracy of these prices. Reproduction of this report without permission is prohibited. To order copies or a limited copyright waiver, contact OPIS Customer Service at 888.301.2645 (U.S. only), +1 301.284.2000 or [email protected].
IN THIS ISSUE
California Carbon Allowances (CCA) ...................1-2
California Carbon Offset (CCO) ..............................2
Cap-at-the-Rack (CAR) ......................................3-4
California Low Carbon Fuel Standard (LCFS)..........5
Oregon Clean Fuels Program (OCF)........................5
Regional Greenhouse Gas Initiative
Allowances (RGGI) ................................................6
U.S. RIN Values.....................................................6
European Carbon Futures .....................................6
Deal Log ..............................................................8
January 23, 2018
California Carbon Allowance Assessments ($/mt)
Product Vintage Timing Low High Mean Change Wt. Avg.
Previous Yr. V17 Pmt Jan 18 14.98 15.00 14.990 -0.030 ----
Previous Yr. V17 Fwd Dec 18 15.40 15.42 15.410 -0.020 ----
Current Yr. V18 Pmt Jan 18 14.94 14.96 14.950 -0.020 14.950
Current Yr. V18 Pmt +1 Feb 18 14.98 15.00 14.990 -0.020 ----
Current Yr. V18 Pmt +2 Mar 18 15.01 15.03 15.020 -0.030 ----
Current Yr. V18 Fwd Dec 18 15.36 15.37 15.365 -0.015 15.365
Next Yr. V19 Pmt Jan 18 14.91 14.93 14.920 -0.025 ----
Next Yr. V19 Fwd Dec 18 15.33 15.35 15.340 -0.010 ----
Forward Yr. V20 Pmt Jan 18 14.90 14.92 14.910 -0.020 ----
Forward Yr. V20 Fwd Dec 18 15.32 15.34 15.330 -0.010 ----
Advanced Yr. V21 Pmt Jan 18 14.89 14.91 14.900 -0.020 ----
Advanced Yr. V21 Fwd Dec 18 15.31 15.33 15.320 -0.010 ----
PES' BANKRUPTCY UNDERSCORES NEED FOR MEANINGFUL
RFS REFORM: SOURCES The bankruptcy of Philadelphia Energy Solutions has made it even clearer the
need for a meaningful Renewable Fuel Standard (RFS) reform from Congress,
some refining sources told OPIS on Tuesday.
Sources said that there are serious discussions underway among a large group
of stakeholders around the legislation that Senator John Cornyn (R-Texas),
Congressman John Shimkus (R-Ill.) and Congressman Bill Flores (R-Texas) are
working on.
"We're hopeful that those efforts will soon lead to a bill that all of those
stakeholders -- including both biofuel and refining interests -- can support. We're
concerned though that some folks continue to push for quick-fix RIN relief
measures, because that won't solve the underlying problems with the RFS
mandate," a refining source said.
"The RFS is an unworkable program, and the only real solution is for Congress to
pass a meaningful, long-term RFS reform bill," he said.
Senator Cornyn has been working on legislation since December, but the details
are not clear yet. However, "we are hoping to see the legislative language soon,"
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