Offset Scorecard: CCO issuance volumes low following CP2 compliance surrender
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Premium Bulletin (2018/45), 19 November, 2018
Broker Spot CCA: $15.54 (0.6%)
Broker OTC CCA: V2018 Dec 18 $15.47 (0.3%)V2019 Dec 19 $16.54 (0.7%)
ICE CCA: V2018 Front $15.54 (0.6%)V2018 Dec 18 $15.58 (0.6%)V2019 Dec 19 $16.51 (0.5%)
Broker CCO 2018 Delivery: CCO8 $13.73 (-0.7%) CCO3 $13.85 (-0.5%) Golden $14.19  (-0.1%)

Broker CRT 2018 Delivery: Forestry $13.95 (0) ODS $13.95 (0) Livestock $13.95 (0)

All CCOs: 140,618,042 (18,622,552 buffered; 88,955 invalidated; 30,228,583 retired; 14,324,668 in compliance accounts)
Quebec offsets: 628,018
Offsets surrendered for compliance obligations of Quebec entities: 298,812
WCI Offsets available for future compliance: 92,836,212
All CCO-3s: 45,528,314 (5,123,035 buffered)
CCO-0s: 32,358,209 (3,987,875 buffered)
Credited EA projects: 128
Credited compliance projects: 254 (of 437 listed, including 283 registered)
ROCs awaiting ARBOC issuance: 17,176,776
California Carbon Allowance (CCA) prices experienced price hikes right before the auction and a 5-cent price bump on auction day. By mid-week CCA prices had already gained 4-cents, followed by a 5-cent bump. The significant price jump comes after a streak of inactivity in prices. Both Volume and OI decreased significantly when compared to the week before, as entities are awaiting auction results to continue trading. As of Friday (11/16) front (V18 Nov18) is trading at USD 15.54 and benchmark (V18 Dec18) is trading at USD 15.58 which is a 9-cent increase in both deliveries.

A summary of ARB's biweekly CCO offset issuances. At the end of October, the ARB deviated from their usual bi-weekly issuance pattern, in order to issue credits before the CP2 compliance surrender deadline. Just under 60k CCOs were issued on 26 October. This week, the usual pattern resumed and just under 786k CCOs were issued.
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