trending Market Intelligence /marketintelligence/en/news-insights/trending/pDU72aBMt6ED97yGB_dYNQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

CARB releases draft proposal with amendments to cap-and-trade rule

Essential Energy Insights - September, 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August

Bull market leaves US utilities behind in August

Utilities, midstream reckon with energy transformation on the horizon

CARB releases draft proposal with amendments to cap-and-trade rule

TheCalifornia Air Resources Board released July 12 a preliminary draft that would make majorchanges to the state's cap-and-trade program for greenhouse gas emissions,among them, the implementation of new emissions caps post-2020.

"Witha cap decline of about three and a half percent per year, the ProposedRegulation is expected to reduce cumulative statewide [greenhouse gas]emissions between 100 and 200 million metric tons of carbon dioxide equivalent(MMTCO2e) from 2021 through 2030, and the flexibility inherent to the programwill ensure that these reductions are cost-effective," the draft states.

Theproposed annual allowance budgets from 2021 to 2030 set a straight-line pathwith an annual decrease of about 13.3 MMTCO2e per year. The linear rate ofdecline was calculated from the 334.2 MMTCO2e cap established for 2020 and the200.5 MMTCO2e cap in 2030 that is required to meet the statewide target of258.6 MMTCO2e, the CARB said.

CARBstaff is proposing to use the post-2020 program to comply with thefederally-proposed Clean Power Plan. The proposed regulation suggests thealignment of the California cap-and-trade program's compliance periods withClean Power Plan compliance periods, including a bridge period to link the twoprograms.

Followinga series of informal workshops over the last several months, CARB staffdeveloped the draft proposal that would also allow for the continued linkagewith Quebec beyond 2020, as well as future linkage with Ontario and otherjurisdictions; continue to prevent emissions leakage in the most cost-effectivemanner; and extend the allocation of allowances to the state's utilities.

TheCARB adopted the state's cap-and-trade regulation in October 2011, with theregulation going into effect Jan. 1, 2012. The first compliance period beganJan. 1, 2013, with the third compliance period running through the end of 2020.The California and Quebec cap-and-trade programs were formally linked at thestart of 2014.

TheCARB said it has revised its schedule and the draft will now be submitted tothe California Office of Administrative Law, or OAL, on July 19, which kicksoff the formal rulemaking process. After the OAL review, the CARB may revisethe draft documents and will post a final version that will be open for publiccomment starting Aug. 2. The formal public comment period will begin when OALpublishes the CARB's notice of proposed action Aug. 5.

Theproposed amendments will be considered at a CARB hearing to be held Sept. 22-23and will be voted on at a meeting slated for March 23-24, 2017.