The revenues from the auctions have now surpassed the 3 billion CAD mark for Quebec. Even though Ontario pulled out of the program last year, the WCI cap-and-trade platform seems fairly stable. During this last auction, there was over 20 percent more demand than credits offered. The price now hovers at $20.82 CAD per ton of CO2 equivalent, which is almost twice the entry price back when the market was initiated in 2013 at $10.75 CAD; equivalent to an average of 12 percent annual price increase.
Read the full results of the auction (in French) here.
For more information we invite you to read the article written by Jonathan Montpetit from CBC Montreal.