Weekly LCFS credit volume followed its quarterly cyclical trend, as volume pushed to a nine-week high last week. Historical data suggests weekly volume may rise to 1.5 million contracts in the next week or two. Increased volume contributed to lower credit prices during the week, with the average spot market price falling to a 29-week low. The LCFS reporting period ended October 2, 2023, and has a publication date of October 31, 2023.
2023 LCFS credit volume is 4.4 million above 2022 volume through the same period but generating $929 million less in revenue. The average 2023 credit price of $76.10 is fifty-nine percent below the 2022 average of $121.10. LCFS credit volume is on the rise but due to deflated prices, revenue remains at multi-year lows.
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