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Argus Launches California Carbon Allowance Index

Washington, 6 October 2011 

Global energy price reporting agency Argus has launched a monthly index for emissions allowances created by the California Air Resources Board’s greenhouse gas trading program.

Argus began daily pricing for the California Carbon Allowance market on 26 August and published the first monthly index on 30 September.

The new California Carbon Allowance monthly index provides independent price discovery ahead of the launch of the state’s greenhouse gas cap-and-trade program in 2013. The data set is key for participants to structure forward deals and develop comprehensive compliance strategies. The data can also be used as a price indicator for the Western Climate Initiative greenhouse gas trading program, which will extend to several Canadian provinces and other US states as the regional market develops.

The new monthly index is calculated, as are all other Argus Air Daily monthly indexes, by averaging the daily price assessments published for every business day in the month. The new index adds to a series of independent price points that have gained industry acceptance as a settlement basis for forward allowance trading, swaps and fuel quality adjustments.

Argus Media chairman and chief executive Adrian Binks said: “We have worked closely with the industry to develop this new index and we believe it will fulfill a real need for a transparent, reliable and representative assessment.”

The new indexes are published in Argus Air Daily and associated data services in which Argus' clients can access prices for renewable energy certificates, greenhouse gas allowances and emissions allowances in key markets around the world.

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About Argus

Argus Media is a leading provider of price assessments, business intelligence and market data on the global crude, oil products, natural gas, electricity, coal, emissions, bioenergy, fertilizer and transportation industries. It is headquartered in London and has offices in Houston, Washington, New York, Portland, Calgary, Johannesburg, Dubai, Singapore, Tokyo, Beijing, Sydney, Moscow, Astana, Kiev, Santiago and other key centers of the energy industry. Argus was founded in 1970 and is a privately held UK-registered company.

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