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ARTICLE · 11 APRIL 2017

Ontario's First Cap And Trade Auction Results

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Ontario held its first Cap and Trade Program Auction of Greenhouse Gas Allowances on March 22, 2017.

CanadaEnergy and Natural Resources
Benjamin Ojoleck
Benjamin Ojoleck
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Ontario held its first Cap and Trade Program Auction of Greenhouse Gas Allowances on March 22, 2017. The results of the auction were published on the Ministry of Environment and Climate Change website yesterday.

The auction drew 47 qualified bidders. Of the total number, approximately half are members of the energy industry.

As expected, the "Settlement Price", the price that the participants actually paid for the carbon allowances, was almost identical to the "Reserve Price" (the minimum acceptable bid price). The Reserve Price was set at $18.07 for current (2017) allowances, and the final Settlement Price was $18.08. Similarly, both the Reserve Price and Settlement Price for the advance (2020) allowances were $18.07. Participants still have three more years to obtain enough allowances to meet their regulatory requirements.  

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