April 3: Results of First GHG Allowance Auction Released


On March 22, 2017, the province held its first auction of GHG allowances. The auction included a Current Auction of 2017 vintage allowances and an Advance Auction of 2020 vintage allowances. The results of the auction, which was administered by the Western Climate Initiative, were that 100% of available current allowances sold at a settlement price of $18.08, while 26% of available future allowances sold at a settlement price of $18.07. The auction generated approximately $472 million in proceeds, which will be invested in programs that will help Ontario achieve its GHG emission reduction target.