SO2 EA and NOx EA
October
2004 |
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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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October
2004
CANTOR ENVIRONMENTAL BROKERAGE
SO2
EA Market Price Index |
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October
2004
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 |
$2,250/ton |
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2004 |
50 tons |
$2,300/ton |
| 2005 |
50 tons |
$3,525/ton |
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2005 |
50 tons |
$3,625/ton |
| 2006 |
50 tons |
$3,100/ton |
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2006 |
50 tons |
$3,200/ton |
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RECENT TRADE PRICES
September 26, 2004 - October 25, 2004 |
| V04
for $2,050/ton x3 |
V06 for $2,800/ton |
V04 for $2,200/ton |
V06 for $3,200/ton |
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| V04
for $2,025/ton |
V06 for $2,800/ton |
V04 for $2,250/ton |
V06 for $3,150/ton x2 |
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| V04
for $2,050/ton |
V04 for $2,150/ton |
V05 for $3,550/ton |
V07 for $2,875/ton x2 |
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| V04
for $2,025/ton |
V05 for $3,500/ton |
V05 for $3,600/ton x2 |
V07 for $2,850/ton x2 |
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| V04
for $2,050/ton |
V05 for $3,475/ton |
V06 for $3,050/ton |
V04 for $2,250/ton |
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| V05 for $3,350/ton |
V05 for $3,450/ton x2 |
V06 for $3,100/ton |
V04 for $2,300/ton |
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| V05
for $3,375/ton |
V05 for $3,4750/ton |
V07 for $2,800/ton |
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| V05
for $3,400/ton x2 |
V07 for $2,600/ton |
V04 for $2,300/ton |
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| V06
for $2,650/ton |
V07 for $2,650/ton |
V04 for $2,2250/ton |
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| V04
for $2,075/ton |
V06 for $2,950/tpy x2 |
V05 for $3,625/ton |
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| V04
for $2,075/ton |
V04 for $2,200/ton x2 |
V05 for $3,650/ton |
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| V04
for $2,100/ton x3 |
V05 for $3,550/ton |
V05 for $3,675/ton |
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| V04
for $2,125/ton |
V06 for $3,025/ton |
V05 for $3,625/ton x2 |
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| V05 for $3,500/ton
x2 |
V04 for $2,175/ton |
V06 for $3,150/ton |
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| V04 for $2,150/ton
x5 |
V06 for $3,000/ton |
V06 for $3,175/ton |
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| MARKET INDEX PRICE |
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2004
$2,238/ton |
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$175 |
3,716 tons trade this
month |
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2005 $3,373/ton |
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$186 |
1,600 tons trade
this month |
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| 2006 $2,705/ton |
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$406 |
1,040 tons trade
this month |
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2007 $2,568/ton |
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$257 |
1,000 tons trade
this month |
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October
2004
CANTOR
ENVIRONMENTAL BROKERAGE
Market
News |
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NOx Prices
on the Rise
While the current supply of 2004 NOx allowances seems quite abundant,
bullish sentiments for the near- and long- term future have caused
NOx prices to rise this month. Several factors appear to be exerting
an upward influence on prices, including: a) rising oil and natural
gas costs have raised the likelihood of future, increased coal
burns; b) uncertain NOx EA demand in 2005, as the Midwest participants
are subject to their first full 5-month ozone season; c) uncertainty
on the expected progressive flow control (PFC) number for 2005,
especially as weather may play a more active role in 2005 than
in 2004; d) the possibility of a short supply |
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during the 2006 ozone season as compliance supplement pool (CSP) tons are no longer available; and e) implementation of EPA’s proposed CAIR potentially adding value to existing NOx allowances.
SO2 Prices Rise Too
With increased coal burns, and speculation that coal will remain
the fuel of choice for at least the balance of the year, SO2
prices have continued an overall price increase, this month
over last. While still range bound between $500 and $600, the
price trends show an increase in the volume of trades above
the $550 mark. Analysis of EPA’s 2003 Compliance Report
released |
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last month has also helped feed the price increase.
Deadline for NOx/Ozone
Season Reconciliation Looms Near.
Trading of odd-lot volumes continued this month, as participants
have continued with their NOx EA account reconciliation. Please
keep in mind that all unit accounts for NOx must be trued up
by November 30, 2004! |
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