UPDATE – Electricity distribution units bear brunt of free allowance cuts in ARB’s proposed cap-and-trade changes

California regulator ARB illustrated a large reduction in free allowances to electricity distribution units (EDUs), while discussing expanded mandatary emissions reporting that could add new sources of compliance in the joint ETS scheme at a public rulemaking workshop on Friday, but once again refrained from divulging eagerly awaited annual budget cut details, keeping prices in the secondary market in check.