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ARTICLE · 13 APRIL 2017

Ontario Cap-And-Trade Update: Auction, Decision And Proposal

McCarthy Tétrault
McCarthy Tétrault
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As Ontario's Cap-and-Trade Program is now in full swing, we wanted to provide an update on some of the more noteworthy developments.

CanadaEnergy and Natural Resources
Canadian Energy Perspectives
Canadian Energy Perspectives
Joanna Rosengarten
Joanna Rosengarten
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As Ontario's Cap-and-Trade Program is now in full swing, we wanted to provide an update on some of the more noteworthy developments.

Quarterly Auction Kick-Off

On March 22nd, 2017, the Ontario Government held the first quarterly auction for emission allowances under the Cap-and-Trade Program. As we previously reported, the Ontario Government indicated that it expects to raise $1.9B yearly from the sale of emission allowances. The first auction generated $472,031,155 in proceeds from the sale of 25,296,367 current allowances sold at $18.08 each, and 812,000 from future vintage allowances sold at $18.07 each. The auction sold 100% of current vintage allowances and 27% of future vintage allowances.

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