UPDATE: Post-NGERs seasonal rush arrives as ACCU market activity surges to 12-month high, led by NZU sell-down

A sell-down following the recent NZU drop-off drove a 12-month high in ACCU trading activity last week – dating back to the same week last year – underpinned by strong compliance demand following the completion of NGERs reporting. As we noted in our last update, significant bid depth has been building at slightly lower levels than the stagnant range seen over the past month, precipitating sizeable activity last week as sellers came down.  Elsewhere, LGC prices fell to a new low as REGOs, particularly “below-baseline” crediting, continues to weigh on the market.

RepuTex’s Carbon Weekly report breaks down activity in the Australian exchange-traded and OTC carbon markets (spot and derivatives) over the past week, including key trends and drivers, our latest pricing and benchmarks, and our daily forward curves.