Week Ahead: CT Expands Renewables, Virginia Considers SMRs, VT Reviews Rate Design
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Carbon Pricing September 2025 Update
Developments in U.S. carbon markets reflect new progress as states reinforce their commitment to emissions trading programs despite receding federal climate action. Amid rising auction prices, states and regions are extending their programs beyond the…Read the full report …...
Washington’s 11th Cap-and-Invest Auction Sells Out, Raises $446 Million
The Washington Department of Ecology on Sept. 10 reported that all available emissions allowances were sold in the state’s 11th quarterly carbon auction, underscoring market confidence. The auction raised an estimated $446 million, which includes $295 million for the state and $151 million to benefit utility ratepayers. This brings the total state proceeds close to…...
California Carbon Auction Prices Rebound, Market Awaits Clarity on Program’s Post-2030 Future
The 44th quarterly carbon auction held by California and Quebec sold all of the nearly 51.9 million carbon permits offered under the current auction at a price of $28.76 per allowance, above the floor price of $25.87, according to the results released on Aug. 27 by the California Air Resources Board. The current auction’s clearing…...
New Jersey Legislation Pushes for Greater Transparency in PJM Decisions Amid Rising Power Costs
New Jersey Governor Phil Murphy signed into law two measures on Aug. 15 that aim to increase transparency and accountability in the operations of regional grid operator PJM Interconnection LLC, as households and businesses face mounting electricity costs. The legislation strengthens the role of the New Jersey Board of Public Utilities in examining PJM’s market…...
PJM Capacity Auction Prices Rise as Supply-Demand Balance Tightens
PJM Interconnection LLC’s capacity market auction for the 2026/2027 delivery year cleared at $329.17 per megawatt-day (MW-day), nearly 22 percent higher than the clearing price in the previous auction. The clearing price hit the cap recently approved by the Federal Energy Regulatory Commission (FERC) to…Read the full report…...
Western Energy Markets Governing Body Preserves Key Reliability Feature in First Vote Under New Independent Governance
The Western Energy Markets Governing Body on July 23 has taken a significant step under the California Independent System Operator’s new independent governance framework by voting to preserve a key grid reliability tool, Assistance Energy Transfers, or AET, within the Western Energy Imbalance Market. The mechanism, introduced in 2023, allows balancing authorities to receive emergency…...