ON: The end of Ontario’s Cap and Trade Program
In keeping with their commitment to end Ontario’s Cap and Trade program, on July 3, 2018, the newly elected Progressive Conservative government filed Ontario Regulation 386/18: Prohibition Against the Purchase, Sale and Other Dealings with Emission Allowances Credits effective immediately. The new regulation replaces Ontario Regulation 144/16 – the Cap and Trade Program under the Climate Change Mitigation and Low-carbon Economy Act, 2016.
The CPA is currently actively engaging the Energy Supply Policy Division of the Ministry of Energy, Northern Development and Mines regarding the repercussions this cancellation has on CPA members in Ontario and is seeking guidelines with regards to credits already purchased and the next steps for previously participating businesses.
For more information or to assist the CPA in preparing comments, please contact Regional Director, Government Relations (Ontario) Hando Kang at firstname.lastname@example.org or 647.881.1483.