Offset Pricing Monthly Market Digest – August 2021
Offset Supply Information:
All CCOs issued to date: 224.91 million
Compliance credits awaiting issuance: 16.06 million
CA and General Market Commentary:
- Results for the August CCA auction were announced on August 25th. Current vintage CCAs cleared at a record-high price of $23.30, $5.59 over the 2021 auction floor price. The bid-to-cover ratio was a high 1.85, and 32.5% of the allowances were purchased by speculators rather than compliance entities.
- Offset (CCO) prices moved upward as well during
August, but the spread between CCO-0s and CCAs increased to a 35% discount to allowances, a new record high discount %.
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