2020 is proving to be another record-breaking year in the California Low Carbon Fuel Standard (CA LCFS) market. Credit pricing remained strong throughout Q4 2019 and January 2020 with spot pricing sustaining levels over ~$200 per credit. Despite the cost containment provisions the California Air Resources Board (CARB) implemented in late 2019, the market recently has transacted above the implied ~$213 cap. The enclosed update provides highlights on news impacting the market, a recent price trend overview, and a closer look at the Q3 2019 credit and deficit report released by CARB at the end of January.
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