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arbcombo -- July 7, 2014 Release of final report by Market Simulation Group (MSG) and issue paper by the Emissions Market Assessment Committee (EMAC) Posted: 07 Jul 2014 10:18:38
The California Air Resources Board has released a final report by the Market Simulation Group and an issue paper by the Emissions Market Assessment Committee. MSG Final Report ARB has released the final report of the Market Simulation Group (MSG). MSG was an advisory group of academic economists established by the California Air Resources Board (ARB) in 2012 to use simulation methods to evaluate the market rules governing the California Greenhouse Gas Cap-and-Trade market. ARB established MSG through an interagency agreement with the University of California, Berkeley. A key element of the agreement, which ran through March 2014, was the requirement that MSG obtain input directly from stakeholders. MSG began its work with a public meeting with stakeholders at the campus of the University of California at Berkeley on June 7, 2012. MSG provided an overview on the potential sources of disruption in the California Cap-and-Trade market. MSG then invited stakeholders to identify specific concerns with the market rules or potential market scenarios that stakeholders thought created risks of market disruption. The MSG presentations, along with analyses supplied by stakeholders, are accessible at the MSG web page on the ARB web site at: http://www.arb.ca.gov/cc/capandtrade/simulationgroup/simulationgroup.htm As MSG progressed with its work, it updated stakeholders at the public meetings of the Emissions Market Advisory Committee (EMAC) on September 24, 2012 and November 14, 2013. In addition to the MSG presentations, stakeholders were given the opportunity to comment on the MSG’s work. The MSG updates are available on the ARB web site at: http://www.arb.ca.gov/cc/capandtrade/emissionsmarketassessment/emissionsmarketassessment.htm The MSG final report, entitled “Report of the Market Simulation Group on Competitive Supply/Demand Balance in the California Allowance Market and the Potential for Market Manipulation,” may be accessed at the link to the MSG web page provided above. EMAC Issue Paper ARB has also released an issue paper containing recommendations for the release of market data written by the Emissions Market Assessment Committee (EMAC). EMAC was an advisory group of academic economists established by the California Air Resources Board (ARB) to provide a forum for discussion with interested stakeholders on issues related to the design and operation of the California Cap-and-Trade Program and its associated markets as the program was initiated. ARB established the EMAC through an interagency agreement with the University of California, Berkeley. The EMAC provided expert analysis and advice to ARB through quarterly meetings and regular consultations with staff through the end of its contract in December, 2013. EMAC discussed options for the release of Cap-and-Trade market data with stakeholders at its last public meeting on November 4, 2013. The paper, entitled “Information Release on Allowance Holdings in the Greenhouse Gas Emissions Cap-and-Trade Market,” may be accessed through the following link to the EMAC web page on the ARB web site: http://www.arb.ca.gov/cc/capandtrade/emissionsmarketassessment/emissionsmarketassessment.htm California is in a drought emergency. Visit www.SaveOurH2O.org for water conservation tips. You are receiving this single arbcombo email because you are a subscriber to or have made a public comment to one or more of the following lists: capandtrade, cc.