Thursday, June 25, 2015

Alberta increases province’s carbon levy to $30 in 2017

Alberta government announced plans to increase province’s carbon levy on January 1 from its current $15 per tonne to $20, before a further hike to $30 in 2017. The hikes will coincide with a near doubling of efficiency targets large polluters must meet. Companies will also be required to reduce emissions by 20 per cent over time, compared with a 12-per-cent target today. 
Government estimates the increased carbon levy would add 30 to 45 cents a barrel to the cost of oil sands production and an extra $3.60 per megawatt-hour for electrical utilities by 2017.
The Canadian Association of Petroleum Producers, which represents large oil sands players, warned that its members were facing $800-million in added costs over two years because of higher carbon levies and corporate taxes.
Greenhouse gas emissions from energy-rich Alberta amounted to 267 megatonnes in 2013, or about 37% of Canada's total emissions, with the federal government projecting that amount to grow to 287 Mt by 2020.