Washington’s Clean Fuel Standard (WCFS) credit prices tumbled $34/t, or more than 34%, over the past seven sessions as the state’s inaugural quarterly credit generation report showed a credit surplus.
Prompt WCFS credit prices fell as low as $67/t on Tuesday, October 10, as sellers starting the day at $79/t tracked lower in search of buyers. A lack of demand from obligated parties not facing immediate compliance needs coupled with fresh government data showing a well-supplied program pressured credit prices.
The move drove prompt, spot WCFS credit prices to parity with California Low Carbon Fuel Standard (LCFS) credits.