Carbon Tax Increase to pass 2030 Greenhouse Gas Emissions Goals

As part of its commitment to helping Canada achieve its 2030 Paris goals, on December 11th the federal government announced that the cost of carbon will increase to $170/t come 2030 ($15/t every year between 2023 and 2030).

Alberta’s renewable space experienced a flurry of commercial activity – long-term contracts and investment capital inflow – across 2020 in spite of challenging economic conditions brought on by COVID-19 and low oil prices. The federal government’s commitment to the environment is expected to maintain the trend, with renewable projects willing to take on merchant risk having significant revenue upside potential.

If you are developing a renewable project in Alberta be certain to contact EDC Associates Ltd. for a project-specific energy & environmental attribute revenue sales forecast in order to understand how market dynamics will be shifting in your favor over the next decade in response to the federal government’s current policies.