In April 2015, Premier Wynne
announced that Ontario would implement a cap and trade system
in an effort to reduce greenhouse gas (GHG) emissions in the
province. High-level details of how a cap and trade system works
provided at the same time. This announcement, made in advance
of the Premiers' Climate Summit, was widely
reported. The Ontario Government has repeated its commitment to
implementing a cap and trade system on many occasions, such as at
Climate Summit of the Americas held in Toronto in July
Since April 2015, there have been discussions and consultations
with interested industry sectors and others who may be impacted by
the implementation of the cap and trade system in Ontario. No
announcement has yet been made about the planned start-date for the
cap and trade system. However, in preparation for implementation,
the Ontario Ministry of Environment and Climate Change recently
posted updated Regulations and Reporting Requirements for
comment. Interested parties are invited to comment on the posting
by October 29, 2015.
Lowering the reporting threshold to 10,000 tonnes CO2e from the
current threshold of 25,000 tonnes per year, while maintaining the
requirement to have emissions greater than 25,000 tonnes per year
third party verified
Divide the emission sources into those that are reporting only
and those that require third party verification.
Add petroleum product suppliers and natural gas
distributors to the reporting regulation, starting in 2016, to
support the implementation of a cap and trade program.
Add other sources to the reporting regulation including:
Equipment used for natural gas transmission, distribution and
Electricity transmission and distribution;
Magnesium production; and
Mobile equipment at facilities.
Among other things, these items signal that the planned cap and
trade system will have significant impacts on Ontario's energy
delivery sector. Whereas electricity and gas transmission and
distribution are not currently subject to emissions reporting, that
will not be the case going forward.
We expect that more details of the Ontario Government's
plans for implementing the cap and trade system will be released in
the coming months, and we will provide updates at
www.EnergyInsider.ca as appropriate.
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