Manage 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.

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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 Report
Manage 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
WHO WE HELP
Traders
Transportation
Refiners
COMMODITIES
Renewables
Gasoline
Diesel
Jet Fuel
MARKET SEGMENTS
Spot
Rack
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© 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 energycs@opisnet.com.
IN THIS ISSUE
California Carbon Allowances (CCA) ...................1-2
California Carbon Offset (CCO) ..............................2
Cap-at-the-Rack (CAR) ......................................3-4
Ontario Carbon Allowances (OCA)..........................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
April 06, 2017
California Carbon Allowance Assessments ($/mt)
Product Vintage Timing Low High Mean Change Wt. Avg.
Previous Yr. V16 Pmt Apr 17 13.88 13.90 13.890 0.29 ----
Previous Yr. V16 Fwd Dec 17 14.29 14.31 14.300 0.52 ----
Current Yr. V17 Pmt Apr 17 13.65 14.10 13.875 0.28 13.836
Current Yr. V17 Pmt +1 May 17 14.34 14.36 14.350 0.73 ----
Current Yr. V17 Pmt +2 Jun 17 13.97 13.99 13.980 0.33 ----
Current Yr. V17 Fwd Dec 17 14.15 14.45 14.300 0.52 14.401
Next Yr. V18 Pmt Apr 17 14.00 14.16 14.080 0.53 ----
Next Yr. V18 Fwd Dec 17 14.16 14.18 14.170 0.44 ----
Forward Yr. V19 Pmt Apr 17 14.15 14.17 14.160 0.63 ----
Forward Yr. V19 Fwd Dec 17 14.24 14.26 14.250 0.54 ----
Advanced Yr. V20 Pmt Apr 17 14.14 14.16 14.150 0.63 ----
Advanced Yr. V20 Fwd Dec 17 14.23 14.25 14.240 0.54 ----
CALIF. APPELLATE COURT UPHOLDS CAP-AND-TRADE
California's Third District Court of Appeals upheld the state's cap-and-trade
program and the Air Resources Board's (CARB) authority to manage the emissions
trading system.
"We hold that the Legislature gave broad discretion to the Board to design a
distribution system, and a system including the auction of some allowances did
not exceed the scope of legislative delegation," the court said in its decision.
"Further, the Legislature later ratified the auction system by specifying how to use
the proceeds derived therefrom."
"The purchase of allowances is a voluntary decision driven by business
judgments as to whether it is more beneficial to the company to make the
purchase than to reduce emissions," said the court. "Reducing emissions reduces
air pollution, and no entity has a vested right to pollute."
"Further, once purchased, either from the Board or the secondary market, the
allowances are valuable, tradable commodities, conferring on the holder the
privilege to pollute. Indeed, speculators have bought allowances seeking to profit
from their sale, and as one party puts it, taxes do not attract volunteers."
Associate Justices Elena Duarte and Kathleen Butz ruled in favor of CARB, while
Associate Justice Harry Hull ruled against.
Today's decision marks the end of nearly four and a half years of litigation on the
part of the California Chamber of Commerce (CalChamber) and food processor, as
For a FREE trial, call 888 301 2645 or 1 301 284 2000,
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