What's New List Serve Post Display

The California Air Resources Board (ARB) will make available a
new summary of Cap-and-Trade Program market activity on December
9, 2016 at noon (12:00 PM) Pacific Time. ARB will release a
Summary of Transfers Registered in CITSS by California and Québec
Entities in 2015.  The release contains a data table providing
details on the number of completed transfers, the quantity of
compliance instruments transferred between market participants,
and the weighted average prices of the transfers.

The report will be posted at:
http://www.arb.ca.gov/cc/capandtrade/capandtrade.htm.

BACKGROUND:

The California Cap on Greenhouse Gas Emissions and Market-Based
Compliance Mechanisms Regulation (Regulation) was adopted by the
California Air Resources Board in October of 2011, and formally
went into effect January 1, 2012.  Entities subject to the
Regulation have a compliance obligation for their greenhouse gas
emissions beginning on January 1, 2013.  The Regulation was
amended in early 2013 to link the California and Québec programs
beginning January 1, 2014.

The Summary of Transfers table is a joint release between
California and Québec.  For transfers of allowances, the table
provides a breakdown by vintage and whether the transfer was
priced or unpriced.  Most transactions between independent market
participants are conducted at a price that is entered into the
transfer request in the Compliance Instrument Tracking System
Service (CITSS).  These include bilateral transactions and
transactions cleared on spot or futures market exchanges.  There
are also numerous transactions made without an explicit price. 
These include, for example, transfers between corporate
associates, between an electric distribution utility and a
generator as part of a power purchase agreement, between
publicly-owned utilities, or as part of an agreement that
transfers compliance instruments with other products or services.
 The table contains a separate accounting of transfers of
offsets, again with a breakdown between priced and unpriced
transfers.  Offsets transfers are further broken down by project
type.

Additional Information

If you have any questions about this email or the information
contained in the table, please contact Ray Olsson of the Market
Monitoring Section, at (916) 322-7615 or rolsson@arb.ca.gov.


California is in a drought emergency.
Visit www.SaveOurH2O.org for water conservation tips.

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