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ARTICLE · 11 MAY 2017

Ontario's Cap And Trade Update

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Ontario's Cap and Trade program is being updated. On March 22, 2017, as we reported here, Ontario held its first stand-alone auction of greenhouse gas ("GHG") allowances...

CanadaEnvironment
Jessica Boily
Jessica Boily
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Ontario's Cap and Trade program is being updated. On March 22, 2017, as we reported here, Ontario held its first stand-alone auction of greenhouse gas ("GHG") allowances, selling all 25,296,367 current vintage allowances that were available and 812,000 of the 3 million available 2020 vintage allowances. The selling prices were $18.08 and $18.07 respectively, with a reserve or floor price of $18.07.[1]

Meanwhile, the Ministry of Environment and Climate Change ("MOECC") has proposed amendments to the Cap and Trade Program Regulation, O. Reg. 144/16, and the Quantification, Reporting and Verification of Greenhouse Gas Emissions Regulation, O. Reg. 143/16, and the Methodology for the Distribution of Ontario Emission Allowances Free of Charges (which is incorporated by reference into the Cap and Trade Program Regulation) and the Guideline for Quantification, Reporting and Verification of Greenhouse Gas Emissions. The proposed amendments are intended to tighten up gaps

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