Offset Pricing Monthly Market Digest – April 2020
Offset Supply Information:
All CCOs issued to date: 174.45 million
Compliance credits awaiting issuance: 32.84 million
CA and General Market Commentary:
- ARB issued only 1.16 million CCOs during the month of March. The ROC backlog (Compliance credits awaiting issuance) climbed by 3.46 million, and is now near the upper end of its historic range. Smaller monthly issuances and a growing backlog may be due to COVID-19 disruptions at ARB.
- CCA prices recovered slowly in April, but remain well below the $16.68 auction floor price. The next scheduled auction is in May.
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