The allowance price in the Beijing emission trading system (ETS) continued its rising momentum, reaching a record-high of Chinese yuan 77/tonne (€9.2/tonne) on Thursday.
Beijing liable entities can still cover their emissions after the compliance deadline of 27 June 2014. The local government has allowed them to continue trading so that most of them can fulfil their duties.
The Shanghai and Chongqing schemes remained no transactions this week. The former hasn’t had any transactions since the compliance period ended. The latter was launched on 18 June.
The transactions in the Shenzhen pilot remained low. The daily allowance in the Shenzhen pilot averaged 287 tonnes at Chinese yuan 60/tonne (€7.14/tonne) this week.
The allowance price in the Hubei scheme lingered at Chinese yuan 23.98/tonne (€2.96/tonne) this week, similar to that of last week.
“Most Tianjin companies have covered their demand gaps”, said Wang Jing, the president of Tianjin emission exchange on Tuesday. The local pilot extended its deadline to 25 July.
Two out of 184 Guangdong companies breached compliance, according to the local official on Tuesday. These two companies will face the penalty of Chinese yuan 50,000 (€5,957). They’ll also be deducted twice the unfulfilled allowances from the allocated allowances in 2014. Ling Ma