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Press Release

CARBON MARKET: RESULTS OF QUÉBEC'S 4TH AUCTION

Québec City, August 29, 2014 – Ministère du Développement durable, de l’Environnement et de la Lutte contre les changements climatiques today released the results of its fourth auction of greenhouse gas (GHG) emission units, held August 26.

Auction participants bid on the 694,000 of units for sale in 2014, 66% of the total available, as well as on 1.455 million units for sale in 2017, 95% of the total. All units went for $11.39, generating $24.5 million in revenue and a cumulative total of over $105 million to date. All proceeds will be reinvested in the 2013–2020 Climate Change Action Plan for the benefit of the Québec economy.

Québec and California, whose carbon markets have been linked since January 1, 2014, have an agreement to hold their auctions jointly, thus completing the harmonization of their respective markets. To prepare for this, the two governments held a joint experimental auction in July with excellent results. The simulation gave participants an opportunity to test the improved auction platform and get familiar with features needed for such joint auctions, such as the functionality permitting the simultaneous use of two currencies. The precise date of the joint auction has not been set at this time. Official notice will appear on the Ministry website 60 days in advance, as per regulations.

The summary of the August 26 auction results is available on the Ministry website at www.mddelcc.gouv.qc.ca/changements/carbone.


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INFORMATION:
Media relations
Ministère du Développement durable, de l’Environnement et de la Lutte contre les changements climatiques
Tel.: 418-521-3991

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