California LCFS Weekly Average Credit Price Maintains Recent Strength: CARB

The California Low Carbon Fuel Standard weekly average credit transfer price remained above $70/credit for the third time in four weeks in the week ended Sunday, according to data released late Tuesday by the California Air Resources Board.

The average price for transfers categorized by CARB as Type 1 transfers gained 18cts to $70.71/credit. That average price is up $13.17 year over year.

The non-Type 1 volume-weighted average price dipped 38cts to $68.59/credit. That average price was 3cts higher year over year.

Spot LCFS credit values were $1.75 lower on Tuesday after OPIS assessed the credits at $68/credit. That assessment was $2.625 lower week over week.

The high Type 1 transfer in CARB’s reporting week was at $72/credit with a reported volume of 10,000 credits. The low transfer was at $69.50/credit with a reported volume of 5,000 credits. The largest reported volume of the week was 150,000 credits at a price of $70.75/credit.

CARB categorized 573,500 credits as Type 1 transfers, up from 434,400 credits the previous week.

The agency reported 925,864 credits were transferred in the most recent reporting week, down from 1.14 million credits in the previous week.

The total value of the transfers dropped to $63.51 million, down from $78.34 million in the previous week.

CARB excluded seven transfers for 5,637 credits that were reported with zero or a near-zero price. For its weekly report, the agency considers the dates transfers were fully completed rather than the dates they were posted, which can vary.

Reporting by MK Bower, mbower@opisnet.com; Editing by Jordan Godwin, jgodwin@opisnet.com