More Details On Quebec's Draft Cap-And-Trade Regulation

As we previously reported here, Quebec's draft Regulation respecting a cap-and-trade system for greenhouse gas emission allowances (the Regulation) will come into force on January 1, 2012, subject to amendments.

The cap-and-trade system (System) will require the registration of "emitters," which is broadly defined as persons and municipalities who produce more than 25,000 tonnes of CO² equivalent per year at an establishment, and who i) conduct an enterprise in electric or natural gas utilities, mining, oil and gas exploration, steam and air conditioning supply, manufacturing or gas pipelines; ii) acquire electricity generated outside of Quebec, or iii) manufacture and distribute hydrocarbon fuels in Quebec.