SO2 EA and NOx EA
March
2005 |
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What are the Cantor Environmental Brokerage SO2 EA and NOx EA
MPIs? |
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The Cantor Environmental Brokerage Market Price Indices (MPIs)
are prices that reflect current market conditions for Clean
Air Act Title IV SO2, and Section 126/NOx SIP Call emission
allowances (EAs). The MPI is an average of the following three
numbers (where available) (Note: fees and commissions are not.
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RECENT TRANSACTION
PRICE
Prices from the most recent transactions (sales, swaps,
and options) either executed by Cantor Environmental Brokerage
and/or reasonably believed by Cantor Environmental Brokerage
to have occurred. Also note that the MPI does not include
transactions that are reported as retirements or facility
changes of ownership because such transactions may not
be reflective of current market conditions.
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Lowest Offer Price
Lowest price, reported to Cantor Environmental Brokerage,
at which a seller is willing to sell.
Highest Bid Price
Highest price, reported to Cantor Environmental Brokerage,
at which a buyer is willing to buy.
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If you would like to receive this bulletin as an e-mail
attachment in Adobe format please fax this to 203-662-3643
with your e-mail address listed below, or send an email
to apaton@cantor.com. |
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For More Information
Call (203) 662-3638
19 Old Kings Highway South, Darien, Connecticut 06820
Fax (203) 662-3643
www.emissionstrading.com
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Note:
All information contained here is obtained by Cantor
Environmental Brokerage from sources believed to be
accurate and reliable. However, because of the possibility
of human and mechanical errors, as well as other factors,
such information is provided "as is" without
warranty of any kind and Cantor Environmental Brokerage,
in particular, makes no representation or warranty as
to the accuracy, timeliness, or completeness of this
information. Under no circumstance shall Cantor Environmental
Brokerage have any liability to any person or entity
for (a) any loss or damage in whole or in part caused
by, resulting from, or relating to any error (negligent
or otherwise) or other circumstance involved in procuring,
collecting, compiling interpreting, analyzing, editing,
transcribing, transmitting, communicating, or delivering
any such information, or (b) any direct, indirect, special,
consequential, or incidental damages whatsoever even
if Cantor Environmental Brokerage is advised in advance
of the possibility of such damages, resulting from the
use of, or inability to use, any such information. The
data and information contained herein are, and must
be construed solely as statements of opinions and not
statements of fact or recommendations to purchase, sell,
or hold SO2 or NOx EAs. All prices are merely indications
of interest, do not represent firm bids and offers,
and their terms are subject to change without notice.
NOWARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY,
TIMELINESS, COMPLETENESS, MERCHANTABILITY, OR FITNESS
FOR ANY PARTICULAR PURPOSE OF ANY SUCH DATA OR INFORMATION
OROTHER OPINION IS GIVEN OR MADE BY CANTOR ENVIRONMENTAL
BROKERAGE IN ANY FORM OR MANNER.
For information on trading SCAQMD RTCs
and/or ERCs, SJVAPCD and BAAQMD ERCs, Illinois ATUs,
ERCs, DERs, or Sewerage Facilities Charge Credits please
visit or call 1-800-228-2955 ext. 1, 2, 4, 6, 7, 8,
or 9. For information on trading HGA NOx Allowances,
call 800-228-2955 ext. 13 or 14. For information on
trading NOx Section 126/NOx SIP Call Allowances, and
SO2 Allowances call (203) 662-3638 or 800-228-2955 ext.
6 or 12. For information regarding Greenhouse Gas Credits
visit , or call 800-228-2955 ext. 10. |
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March
2005
CANTOR ENVIRONMENTAL BROKERAGE
SO2
EA Market Price Index |
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March
2005
CANTOR
ENVIRONMENTAL BROKERAGE
NOx
EA Market Price Index |
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| BEST
BIDS TO BUY |
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BEST
OFFERS |
| 2004 |
50 tons |
$2,350/ton |
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2004 |
50 tons |
$2,500/ton |
| 2005 |
50 tons |
$3,400/ton |
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2005 |
50 tons |
$3,500/ton |
| 2006 |
50 tons |
$3,500/ton |
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2006 |
50 tons |
$3,600/ton |
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RECENT TRADE PRICES
February 26, 2004 - March 25, 2005 |
| V05 for $3450/ton (x2) |
V05 for $3,400/ton |
V06 for $3,525/ton x2 |
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| V06 for $3600/ton (x2) |
V05 for $3,380/ton |
V07 for $2,925/ton |
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| V06 for $3,600/ton |
V05 for $3,375/ton |
V05 for $3,425/ton x2 |
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| V04 for $2,400/ton |
V07 for $2,900/ton |
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| V04 for $2,425/ton |
V05 for $3,425/ton |
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| V05 for $3,425/ton |
V05 for $3,425/ton |
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| V05 for $3,400/ton |
V07 for $2,900/ton |
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| V07 for $3,000/ton |
V07 for $2,875/ton |
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| V05 for $3,375/ton |
V04 for $2,400/ton |
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| V06 for $3,500/ton |
V04 for $2,425/ton |
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| V07 for $2,975/ton |
V05 for $3,425/ton |
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| V07 for $2,950/ton |
V06 for $3,525/ton |
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| V07 for $2,900/ton |
V05 for $3,425/ton x2 |
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| V07 for $2,875/ton |
V06 for $3,525/ton |
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| V07 for $2,850/ton (x2) |
V05 for $3,425/ton x2 |
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| MARKET INDEX PRICE |
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2004
$2,422/ton |
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$3 |
450 tons
trade this month |
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2005 $3,440/ton |
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$18 |
1,375 tons trade
this month |
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| 2006 $3,632/ton |
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$84 |
500 tons trade
this month |
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2007 $3,082/ton |
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$163 |
600 tons trade
this month |
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March
2005
CANTOR
ENVIRONMENTAL BROKERAGE
Market
News |
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Rule Announcements
The emissions markets continued their sideways trading in somewhat quiet sessions for the month of March. Where we started on March 1st is where we ended up March 24th. News of the EPA's Clean Air Interstate Rule (CAIR) and the Clean Air Mercury Rule has swept the market and traders and naturals are trying to evaluate what the effect of these new regulations will have on the future market prices. Several media sources are investigating reports that traders perceive higher allowance prices due to the stricter |
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regulations though it is hard to predict with CAIR being a few years away and the Clean Air Mercury Rule time frame being undetermined at this date.
NOx Market Sharply Unchanged
In the NOX markets, vintages 05 and 06 slipped off slightly in the middle of the month to the mid $3350 and $3500 levels respectively to rally back to the present levels of $3425 and $3525. Several traders were expecting some natural selling to enter the
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market
but as that possibility started to wane halfway through the
month, prices began to edge up. Traders stepped in on a few
key days in the 2nd half of the month to bid the nearby vintages
higher to $3425 and $3525 levels. Vintage 07 traded $2925
late in the month in conjunction with the rally in the v05
and v06 markets. |
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