Québec, California and Ontario Joint Cap-and-Trade Auction Update
On February 21, 2018, a joint emissions units auction was held between the California Air Resources Board (CARB), Québec’s ministère du Développement durable, de l’Environnement et de la Luttre contre les changements climatiques (MDDELCC) and the Ontario Ministry of the Environment and Climate Change (MOECC).
A Summary Results Report, which includes a list of qualified bidders, total allowances sold and the settlement price, was released by both the MOECC and the MDDELCC. During the sale, 98,215,920 current vintage emission units and 8,576,000 2021 vintage emission units were sold.
The next auction is set to take place on May 15, 2018. The publication of the Auction Notice, which includes the number of emissions units for sale, minimum prices and application requirements, marks the beginning of the application period. The application period closes on April 16, 2018.