What's New List Serve Post Display
Below is the List Serve Post you selected to display.
arbcombo -- Public Information Release of First Cap-and-Trade Compliance Period Report and Market Transactions Reports to be Posted on Dec. 16, 2015
Posted: 14 Dec 2015 12:02:06
The California Air Resources Board (ARB) will make available two new reports on Cap-and-Trade Program activity on December 16, 2016 at noon (12:00 PM) Pacific Time. The first report provides a detailed summary of covered entity compliance status for the first compliance period (2013-2014) of the California Cap-and-Trade Program. The second report is the Summary of Transfers Registered in CITSS by California and Québec Entities in 2014, which provides details on the number of completed transfers, the quantity of compliance instruments transferred between market participants, and the weighted average prices of the transfers. The two reports will be posted at: http://www.arb.ca.gov/cc/capandtrade/capandtrade.htm. BACKGROUND: The California Cap on Greenhouse Gas Emissions and Market-Based Compliance Mechanisms Regulation (Regulation) was adopted by the California Air Resources Board in October of 2011, and formally went into effect January 1, 2012. Entities subject to the Regulation have a compliance obligation for their greenhouse gas emissions beginning on January 1, 2013. The Regulation was amended in early 2013 to link the California and Québec programs beginning January 1, 2014. The first compliance period status report will contain a detailed list of covered entities and a tabulation of the compliance instruments they submitted to meet their obligations for the first compliance period. On November 4, 2014, covered entities were required to surrender compliance instruments to cover 30% of their 2013 emissions. ARB published a report for 2013 compliance at: http://www.arb.ca.gov/cc/capandtrade/2013compliancereport.xlsx. On November 2, 2015, covered entities were required to surrender compliance instruments to cover the remaining 70% of their 2013 emissions, and 100% of their 2014 emissions. For this compliance surrender, both vintage 2013 and 2014 allowances were eligible for compliance use. Covered entities also may have used offset credits up to the quantitative usage limit specified in section 95854 of the Regulation (up to eight percent). Future vintage year allowances generally could not be used to satisfy the first compliance period obligation, with the limited exception of certain entities who have received 2015 and 2016 true-up allowances as described in section 95894 of the Regulation. The second data report tabulates the transfers of compliance instruments made through the Compliance Instrument Tracking System Service (CITSS) in 2014. For transfers of allowances, the table provides a breakdown by vintage and whether the transfer was priced or unpriced. Most transactions between independent market participants, such as bilateral transactions or transactions cleared on the Intercontinental Exchange (ICE), are conducted at a price that is entered into the transfer request in CITSS. However, there are numerous transactions made without an explicit price. These include, for example, transfers between corporate associates, between an electric distribution utility and a generator as part of a power purchase agreement, between publicly-owned utilities, or as part of an agreement that transfers compliance instruments with other products. The table contains a separate accounting of transfers of offsets, again with a breakdown between priced and unpriced transfers. Offsets transfers are further broken down by project type. Additional Information If you have any questions about the information in this email or the information contained in the tables, please contact Jason Gray, Manager, Market Monitoring Section, at (916) 324-3507 or jason.gray@arb.ca.gov. 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, ghg-rep, ghg-ver.