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What are the Cantor Environmental Brokerage SO2 EA and NOx EA MPIs?
The Cantor Environmental Brokerage Market Price Indices (MPIs) are prices that
reflect current market conditions for Clean Air Act Title IV SO2, Ozone
Transport Commission 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):
- 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.
- 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.
| 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 www.emissionstrading.com
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 OTC Allowances, Section
126 Allowances, and SO2 Allowances call (203) 662-3638 or 800-228-2955
ext. 6 or 12. For information regarding Greenhouse Gas Credits
visit www.CO2e.com, or call 800-228-2955 ext. 10. |
If you would like to receive this bulletin as an e-mail attachment in
Adobe format please fax this to 415-296-9582 with your e-mail address
listed below, or send an email to loshiro@cantor.com.
Don’t want to get this anymore? No problem! Tell us by checking
the box below and faxing this back to 415-296-9582:
[ ] Stop sending this to me. Give us your name, company, and fax number:
Cantor Environmental Brokerage Market Price Index:
$134.81
(Call 203-662-3638 for
description)
| |
Bids * |
|
Offers * |
|
Trades |
MPI |
| Price/Volume |
2,500 |
@ |
$133.00
|
|
2,500 |
@ |
$135.00 |
|
Not
listed |
|
| |
|
|
$133.00
|
|
|
|
$135.00
|
|
$136.40
|
$134.81
|
Bid and offer for vintage
2002 allowances.
Immediate
Settlement:
| |
|
|
|
Best
Prices ($/Allowance) |
|
Maximum
Volume |
|
| Term |
|
Vintage |
|
|
|
Bid to Buy |
Offer to Sell |
|
Bid |
|
Offered |
|
|
| 1 |
Year |
|
2002 |
|
|
|
$133.00
|
$135.00
|
|
2,500 |
|
2,500 |
|
Allowances |
| 1 |
Year |
|
2003 |
|
|
|
$132.67
|
|
|
2,500 |
|
|
|
Allowances |
| 1 |
Year |
|
2004 |
|
|
|
$131.35
|
|
|
2,500 |
|
|
|
Allowances |
| 1 |
Year |
|
2005 |
|
|
|
$130.39
|
|
|
2,500 |
|
|
|
Allowances |
| 1 |
Year |
|
2006 |
|
|
|
$124.88
|
|
|
2,500 |
|
|
|
Allowances |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Swaps:
| Swap
Rates against vintage 2002 allowances |
| |
2003 |
2004 |
2005 |
2006 |
| Offer |
0.25% |
1.25% |
2.00% |
6.50% |
| Ratios for base years
other than 2002 are available upon request |
SO2 EA Market Beat --The Cantor Environmental Brokerage SO2 EA Market
Price Index decreased by 2.46% this month from $138.22 in September 2002
to $134.81 in October 2002.
|
|
| |
BEST BIDS TO BUY |
| 1999 |
50 tons |
$390/ton |
| 2002 |
150 tons |
$700/ton |
| 2003 |
50 tons |
$4,900/ton |
| 2004 |
50 tons |
$4.875/ton |
| 2005 |
50 tons |
$4,100/ton |
| 2004-2005 |
50 tons |
$4,500/ton |
|
BEST OFFERS TO SELL |
| 1999 |
75 tons |
@ Not listed |
| 2002 |
50 tons |
@ $800/ton |
| 2003 |
50 tons |
@ $5,200/ton |
| 2004 |
50 tons |
@ $5,000/ton |
| 2005 |
50 tons |
@ $4,350/ton |
| 2004-2005 |
50 tons |
@ $4,700/ton |
|
|
|
| V03 for $4,900/ton |
V02 for $690/ton |
V02 for $680/ton |
| V02 for $630/ton x 2 |
V01 for $640/ton |
V02 for $750/ton x 2 |
| V01 for $595/ton |
V03 for $4900/ton |
V02 for $740/ton |
| V01 for $600/ton |
V03/04 for $4,850/ton |
V02 for $710/ton |
| V04/05 for $4,600/ton |
V03/07 for $3,850/ton |
V04 for $4,800/ton x3 |
| V03 for $5,000/ton |
V99 for $425/ton |
V03 for $4,900/ton |
| V04 for $4,850/ton x2 |
V99 for $420/ton |
V04/05 for $4,550/ton |
| V04 for $4,800/ton x2 |
V00 for $520/ton |
V02 for $750/ton |
| V02 for $650/ton x2 |
V02 for $700/ton |
V04/05 for $4,500/ton |
| V99 for $375/ton |
V01 for $660/ton |
V04/05 for $4,500/ton |
| V03 for $4925/ton |
V03/04 for $4,900/ton |
V04 for $4,875/ton x 3 |
| V02 for $665/ton |
V01 for $675/ton |
V04/05 for $4,550/ton |
| V01 for $630/ton |
V03 for $4,900/ton x2 |
V02 for $725/ton |
| V02 for $665/ton |
V04 for $4,900/ton |
V03 for $4,900/ton |
| V02 for $675/ton x 2 |
V03 for $4,900/ton |
V04 for $4,900/ton |
| V 01 for $675/ton |
|
|
|
| |
| 1999 |
$424/ton |
+ $27 |
| 2000 |
$600/ton |
|
| 2001 |
$689/ton |
+ $92 |
| 2002 |
$730/ton |
+ $86 |
| 2003 |
$5,005/ton |
|
| 2004 |
$4,916/ton |
+ $175 |
| 2003-2004 |
$4,950/ton |
+ $50 |
| 2003-2007 |
$3,850/ton |
|
| 2004-2005 |
$4,573/ton |
|
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As always Cantor Environmental Brokerage does
not trade for its own account. All allowances purchased in the
auction or traded in the open market are for our clients. It is Cantor Environmental Brokerage s policy to keep the identity of our clients and their
positions in the market in strict confidence.
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2002 OTC NOx EAs Trade Up. As parties head toward the close
of the year, vintage 2002 NOx EAs have turned up in price. Price
increases are the result of compliance buying, as well as an opportunity
for carryover into vintage 2003 tons.
Check Your NOx Accounts! For unused vintage 2002 or earlier
tons to have an opportunity to carryover, such tons must be in compliance
accounts on or before December 31, 2002. Please check to make sure
that you do not have stray tons left over in general holding accounts
before the close of this calendar year.
Cantor Daily Price Sheets. Cantor Fitzgerald will provide
daily updates on all trades in the NOx and SO2 allowance markets.
We have been providing Daily Price Sheets by email. If you would
like to receive Daily Price Sheets, please do not hesitate to ask
us. As always, there is no charge.
EMA in Jamaica -- December 8 - 10 The Emissions Marketing
Association (EMA) will host a Clean Energy Conference on December
8 - 10, 2002 at the Montego Bay, Jamaica, Wyndham Rose Hotel & Resort.
The conference is intended to: (1) Provide a high quality educational
forum on Greenhouse Gas (GHG) emissions trading in the Central and
South American regions; (2) Support development of a GHG trading
infrastructure at a national or regional level; and (3) Provide
for networking opportunities between interested parties from government
and business, specifically facilitating business-to-business networking
between potential credit purchasers and project developers. Additional
information can be obtained at www.emissions.org.
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|
Greenhouse Gas Reductions Portfolio: CO2e.com, Cantor Environmental Brokerage ' sister company, provides market-based solutions
to help companies manage the opportunities and risks of climate
change including: environmental brokerage, climate neutral solutions,
trading and risk management tools and advice, and market information.
CO2e.com can help your company hedge greenhouse gas exposure and
liabilities. CO2e.com experts provide risk managers with options
to create a diverse portfolio of greenhouse gas reductions and
offsets. Transactions range from simple purchases and sales to
structured options transactions. CO2e.com currently represents
a diverse family of reductions including: (a) Renewable energy,
energy efficiency, land-use and methane projects expected to be
eligible for credit under the Clean Development Mechanism in South
and Central America, Asia, and Africa; and (b) Renewable energy,
energy efficiency, methane capture and recovery, and land-use
projects in Australia, Canada, Europe and the US. Price estimates
vary, but currently range from $1.00 - $2.00 per ton CO2 equivalent
and increase up to $9.00 depending on vintage year, risk guarantees,
volume, and contract structure. Options prices are according
to structure. For details call Corinne Boone at 416-350-2177
or at 1-800-228-2955 (ext. 10 or 11).
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To
Reach Cantor Environmental Brokerage Staff Call 800-228-2955 or Dial Direct:
| Josh
Margolis |
San
Francisco |
RTCs/ERCs/DERs
|
800-228-2955
ext 1 |
| Andy
Kruger |
Darien,
CT |
ERCs/NOx
& SO2 EAs/DERs |
800-228-2955
ext 6 |
| Laurie
Gage |
New
Jersey |
NOx
&SO2 EAs/RTCs/ERCs/DERs |
800-228-2955
ext 7 |
| Robin Langdon |
San
Francisco |
RTCs/ERCs/DERs |
800-228-2955
ext 2 |
| Christine
Grandstaff |
Los
Angeles |
RTCs/ERCs/DERs |
800-228-2955
ext 4 |
| Patrick
Bartosh |
Houston |
NOx
EAs/ERCs/DERs |
800-228-2955
ext 13/14 |
| Mike
Hammond |
San
Francisco |
RTCs/ERCs/DERs |
800-228-2955
ext 9 |
| Lauren
Kisling |
Darien,
CT |
ERCs/NOx
& SO2 EAs/DERs |
800-228-2955
ext 6 |
| Alexa
Paton |
Darien,
CT |
ERCs/NOx
& SO2 EAs/DERs |
800-228-2955
ext 6 |
| Lori
Oshiro |
San
Francisco |
West
Coast Office Manager |
800-228-2955
ext 5 |
| Jenny
Jo |
San
Francisco |
West
Coast Administrative Assist. |
800-228-2955
ext 3 |
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