[a release from Ontario Climate Change Action Plan]
Ontario hosted a practice auction of greenhouse gas emissions allowances on Tuesday, Jan. 17, 2017, for registered participants in the cap and trade program.
The practice auction was designed to introduce entities registered under the Ontario Cap and Trade Regulation (Regulation) to the auction and financial services process and procedures, and provide training on auction mechanics in advance of Ontario’s first auction in March 2017.
More than 100 participants took part. The practice auction as well as auction processes and procedures were conducted successfully. Participants were introduced to the auction platform and went through the steps of the auction process. All entities (mandatory, voluntary and market) that registered and were approved in the Ontario cap and trade program were eligible to participate in the practice auction. The practice auction was designed to follow the actual auction process as closely as possible but was conducted in a compressed timeframe. No money or allowances changed hands during the practice auction.
A sample results report was emailed to practice auction participants on Wednesday, January 18, 2017, to illustrate how the auction financial settlement invoices will appear.