Offset Pricing Monthly Market Digest – August 2019
Offset Supply Information:
All CCOs issued to date: 161.49 million
Compliance credits awaiting issuance: 26.07 million
CA and General Market Commentary:
- On August 27th, the California Air Resources Board announced the results of the 20th quarterly Joint Auction. Current vintage allowances cleared at $17.16, a premium of $1.54 over the auction floor price for 2019 of $15.62. The auction had a bid-to-cover ratio of 1.49. 87% of the current vintage allowances were purchased by compliance entities.
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