On January 1, 2023, significant amendments to Alberta’s Technology, Innovation and Emissions Reduction Regulation (TIER) came into effect. The amendments align TIER with the federal Greenhouse Gas Pollution Pricing Act (GGPPA), facilitate TIER participation by the proponents of carbon capture and storage (CCS) projects, provide price certainty and seek to address a potential surplus of provincial carbon credits in the coming years. INCREASE IN TIER FUND CREDIT COST TO ALIGN WITH GGPPA Although not publicly accessible on the Alberta Environment and Protected Areas (AEPA) website until mid-January 2023, Alberta’s Minister of Environment and Protected Areas issued Ministerial Order 62/2022 on December 21, 2022. The Ministerial Order confirms the cost to obtain TIER Fund credits will increase in C$15 annual increments from C$65 per credit in 2023 to C$170 per credit in 2030. This change aligns TIER with the carbon pricing requirements established by the federal GGPPA. For additional details regarding the interplay between TIER and the GGPPA, see our January 2022 Blakes Bulletin: Alberta Increases Cost of TIER Fund Credits to C$50 . For the last several years, TIER Fund price announcements have been made annually. By confirming that TIER will align with the GGPPA over the long term, […]
CamTrader offers a preview only. View original article. www.mondaq.com
