May 25: Results of Latest Joint Carbon Market Auction

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The government released the results of the May 18, 2016 auction of GHG emission allowances that was held jointly with California. At this seventh joint auction, 7,260,000 emission units for 2016 were sold at a unit price of $16.40 CAD and 940,000 emission units for 2019 were sold at a price of $16.40 CAD. The auction generated gross income in the order of $19.5 million CAD for Québec.