SO2 EA and NOx EA
May 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 factored into the MPI.)
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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 212-308-3763
with your e-mail address listed below, or send an
email to lkisling@cantor.com. |
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For More Information
Call (212) 829-5460
110 East 59th Street, New York, New York 10022
Fax (212) 308-3763
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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May
2005
CANTOR ENVIRONMENTAL BROKERAGE
SO2
EA Market Price Index |
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May
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 |
$2,300/ton |
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2004 |
50 tons |
$2,400/ton |
| 2005 |
50 tons |
$2,750/ton |
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2005 |
50 tons |
$2,825/ton |
| 2006 |
50 tons |
$3,150/ton |
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2006 |
50 tons |
$3,250/ton |
| 2007 |
50 tons |
$2,750/ton |
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2007 |
50 tons |
$2,850/ton |
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RECENT TRADE PRICES
April 26, 2004 - May 25, 2005 |
| V05 for $3075/ton |
V05 for $3100/ton (x3) |
V05 for $28250/ton |
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| V05 for $3100/ton |
V05 for $3100/ton (x3) |
V05 for $2800/ton |
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| V05 for $3150/ton |
V05 for $3000/ton (x2) |
V04 for $2325/ton |
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| V05 for $3175/ton |
V05 for $2950/ton (x3) |
V04 for $2350/ton |
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| V06 for $3250/ton |
V05 for $2975/ton |
V05 for $2850/ton |
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| V06 for $3300/ton |
V05 for $2975/ton |
V05 for $2825/ton |
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| V05 for $3175/ton |
V05 for $2925/ton (x2) |
V05 for $2750/ton |
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| V05 for $3225/ton |
V05 for $2900/ton |
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| V05 for $3250/ton (x3) |
V04 for $2225/ton |
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| V05 for $3200/ton |
V04 for $2200/ton |
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| V05 for $3175/ton |
V04 for $2250/ton |
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| V05 for $3150/ton |
V05 for $2975/ton |
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| V05 for $3125/ton |
V05 for $3000/ton (x3) |
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| V05 for $3100/ton |
V06 for $3300/ton (x2) |
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| V06 for $3225/ton |
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| MARKET INDEX PRICE |
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2004
$2,300/ton |
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$40 |
250
tons trade this month |
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| 2005 $2,850/ton |
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$265 |
4,275 tons trade
this month |
| 2006 $3,231/ton |
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$19 |
450 tons
trade this month |
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2007 N/A |
N/A |
N/A |
N/A |
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May
2005
CANTOR
ENVIRONMENTAL BROKERAGE
Market
News |
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V05 NOx drops with the start of Ozone season
The 2005 NOx Ozone season started May 1 as spot prices continued to drop. The Northeast and Midwest have been experiencing a chilly month of
May and bid support for V05 has been weak. V05 prices are down $265 this month and last traded
at $2750 today. However the spread between V05 and V06
NOx has widened to $400/ton. Many market players feel that there is an ample supply of V05 NOx EAs and are already speculating that Flow Control will be triggered this year. |
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S02 Falls
Spot S02 prices have dropped to $790 a ton, a down from its all time high of $880 in mid April. Trading has been sporadic as SO2 has taken a back seat to the beginning of NOx Ozone season. Many traders have also been focused on the WPS request for bids for their allocation of 500,000 allowances vintage 2005-2034. Word came on Monday that WPS has indeed agreed to sell the EAs to multiple buyers.
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Final CAIR AND CAMR Regulations published
On Thursday May 12th, 2005 The U.S. EPA posted the final Clean Air Interstate Rule “CAIR” on the federal registry. Any petitions must be filed in the Court of Appeals for the District of Columbia Circuit within 60 days from the date final action is published in the Federal Register. States must submit enforceable plans for complying with the requirements of this rule by September 11, 2006 so EPA can review for approval.
On Wednesday May 18th, the U.S. EPA has publishedthe final Clean Air Mercury Rule “CAMR” on the federal registry. Judicial review is only available by filing a petition for review in the U.S. Court of Appeals for the District of Columbia Circuit on or Before July 18, 2005. The final rule is effective on July 18, 2005 |
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