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May 2018 Joint Ontario, Quebec, California Cap and Trade Program Auction

Archived News Release

May 2018 Joint Ontario, Quebec, California Cap and Trade Program Auction

Results Now Posted

Ontario has posted the results of the second joint Ontario, Quebec, California auction of greenhouse gas emission allowances, held May 15, 2018.

A total of 90,587,738 current (2016 and 2018 vintage) greenhouse gas emission allowances were sold at a settlement price of $18.72 CAD, and a total of 6,057,000 future (2021 vintage) allowances were sold at a settlement price of $18.56 CAD. The auction generated estimated proceeds to Ontario in the order of $467 million.

In the linked market, actual auction proceeds are reported in a post-auction proceeds report issued by each jurisdiction. The proceeds reports for the May auction will be posted on June 11, 2018.

The auction was administered by the Ontario Ministry of the Environment and Climate Change, the Quebec Ministère du Développement durable de l'Environnement et de la Lutte contre les changements climatiques and the California Air Resources Board, using services contracted by the Western Climate Initiative (WCI) Inc., with oversight from an independent market monitor to ensure the integrity of the process.

The summary report of the results has been made available to the public.

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