Offset Pricing Monthly Market Digest – June 2020
Offset Supply Information:
All CCOs issued to date: 188.11 million
Compliance credits awaiting issuance: 22.24 million
CA and General Market Commentary:
- ARB issued 2.05 million CCOs in June, a light month, and the ROC backlog decreased by over 1 million credits as new ROC issuances were low in June at 1.08 million.
- ARB’s next auction will be in August.
- ARB has announced that starting at the end of July, ARB will begin marking CCOs as “DEBs” or non-DEBs in their tracking software and reports. This will allow buyers to know whether the credits they are buying have been determined to meet the requirements. Offset projects that are located in California will automatically be marked as “DEBs”, while other projects can petition to have a determination made if the developer believes they should qualify.
- Due to ARB beginning to mark credits as “DEBs”, we would expect that the market will begin to differentiate between the two categories, and we will begin adding prices for both categories to this report if/when the market begins to price them differently.
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