Offset Pricing Monthly Market Digest – December 2019
Offset Supply Information:
All CCOs issued to date: 166.58 million
Compliance credits awaiting issuance: 27.95 million
CA and General Market Commentary:
- On December 2nd, ARB announced that the 2020 Auction Reserve (floor) price will be $16.68. This was in line with expectations. Our chart above has been updated to reflect this 2020 floor price, and we have begun estimating the 2021 floor price at $17.85.
- Allowances prices climbed during the last two weeks of the year. This increase seemed to coincide with the expiration of the December 2019 futures contract, as participants closed those contracts and entered into new futures positions with 2020 expirations.
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