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May 2020

QC: Results of the May 20 Québec-California carbon market joint auction

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The results of the May 20, 2020 greenhouse gas (GHG) emission units auction held jointly with the California Air Resources Board (CARB) are now available.

During the sale, 21,161,000 current vintage emission units were sold at $23.17 CA ($16.68 US), and 1,763,000 2023 vintage emission units went for $23.17 CA ($16.68 US). The sale generated in the order of 82 million Canadian dollars in revenue for Québec. This entire amount will be paid into the Green Fund to finance the measures contained in the 2013-2020 Climate Change Action Plan, for the benefit of Québec society. The results of the auction (the quantity of emission units sold and final prices) and the identity of participating bidders are available on the MELCC website.

The next auction will take place on Tuesday, August 18, 2020. An official notice will be published on the MELCC website 60 days before the auction, as stipulated in the regulation. For more information on the Québec-California joint carbon market auctions, visit the MELCC website.

 

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