"WCI’s Eighteenth Joint Auction was oversubscribed for the Current Auction which cleared at a settlement price of $15.73 and a bid to cover ratio of 1.21. On the other hand, the Advance Auction failed to clear the allowances with a settlement price of $15.62 and a bid to cover ratio of 0.66. There were a total of 86 participants, with 64 from California and 22 from Quebec with 2 new entrants in the auction "
14.6 million tons of California Carbon Allowances (CCAs) traded on the InterContinental Exchange (ICE) following a 31 million tons traded last week. V19 alone contributed 76% of the total volume traded, adding 11 million tons to the market.
As predicted in our report on the recent WCI 18th Joint Action results, Mar 19 and Dec19 deliveries were most actively traded. The new delivery Apr19 started trading volumes for the first time last week.
Price Trends
The price trend for front change on Monday started off higher than previous week (Monday) with a rise of 5 cents. Prices dropped down by 3 cents by Tuesday but started gaining momentum by the end of the day. The prices on Wednesday remained more or less same with slight fluctuations throughout the day. Thursday also showed substantial trading prices continuing to rise throughout the day. Friday closed with a week on week gain of 6 cents from the previous week.
See our CCA tracker for a detailed look into the current price trends:
"...Some fleets have embraced propane as a transportation fuel, while others stick with diesel or even gasoline if they operate medium-duty trucks. A primary reason is energy density..."
"... The link between increased urban density and lower carbon emissions is well established, thanks in part to the substantial reduction in the number of car trips that urban living allows..."
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