The government of Ontario announced the results April 3 of the province’s first auction of greenhouse gas emissions allowances, held March 22, 2017.
A total of 25,296,367 current (2017) allowances were sold at a settlement price of $18.08 and a total of 812,000 future (2020) greenhouse gas emissions allowances were sold at a settlement price of $18.07. The auction generated $472,031,155 in proceeds, which by law will be invested in programs designed to reduce greenhouse gas pollution and help families and businesses reduce their own emissions through the Climate Change Action Plan.
The auction was administered using services contracted by the Western Climate Initiative (WCI) Inc., with oversight from an independent market monitor to ensure market integrity.
Addendum: On June 6 the province held its second auction, with the following results:
