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Ontario sells $472M of allowances in 1st cap-and-trade auction

April 5, 2017 by Ronjoy Bezbarua

(Source: CBC News) Ontario’s first cap-and-trade auction sold out all current allowances, giving the new market a strong start. The March 22 auction brought in $472 million, the government said Monday. The provincial Liberal government hopes the quarterly auctions will bring in $1.9 billion a year, to be invested in programs that reduce emissions and help businesses and consumers adapt to a low-carbon economy. Bidders in the first auction included Union Gas, Enbridge Gas, Imperial Oil, the Greater Toronto Airports Authority, the city of Kingston, Ont., the University of Guelph, Ontario Power Generation, Apotex, Labatt, BP Canada Energy Group, Shell Energy North America and Suncor Energy Products Partnership. Read full article….

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