Weekly LCFS credit volume moved lower last week, while the average price paid per credit held steady, according to data released by the California Air Resources Board (CARB). Transactions were likely constrained due to the shortened memorial holiday week but if volume follows its cyclical trend, there should be a surge in volume beginning late September and running through October. The next LCFS reporting period ends October 2, 2023, with a publication date of October 31, 2023.
2023 LCFS credit volume was 4.2 million above 2022 volume through the same period but generating $909 million less in revenue. The average 2023 credit price of $76.40 was fifty-eight percent below the 2022 average of $121.10. LCFS credit volume is on the rise but revenue, due to deflated credit prices, continues to fall. If this trend continues, 2023 will be the second consecutive year of declining credit prices and revenue.
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