November 2017 (auction #4): Post-Auction Public Proceeds Report
Get information on the proceeds from the November 29, 2017 Ontario cap and trade auction of greenhouse gas allowances.
Background
Ontario held its fourth stand-alone auction of greenhouse gas (GHG) allowances on November 29, 2017. The auction included a Current Auction of 2017 vintage allowances and an Advance Auction of 2020 vintage allowances. Ontario approved the results of the auction, and issued an auction Summary Results Report on December 6, 2017. This Ontario Post-Auction Public Proceeds Report provides information regarding proceeds to the Province of Ontario from the sale of allowances in the Current Auction and Advance Auction, as described in the Summary Results Report. The information provided in this report provides program transparency while also maintaining the confidentiality of individual auction participants’ market positions.
Ontario Proceeds Statistics
Auction Settlement Price (Current Auction): $17.38 CAD
Auction Settlement Price (Advance Auction): $18.89 CAD
Auction Exchange Rate (USD to CAD): 1.2807
| Ontario Proceeds Statistics | Current 2017 Vintage | Future 2020 Vintage |
|---|---|---|
| Total Allowances Available for Sale | 25,296,369 | 3,116,700 |
| Total Allowances Sold at Auction | 20,898,000 | 3,116,700 |
| Total Qualified Bids Divided by Total Allowances Available | 0.83 | 1.45 |
Total Ontario Auction Proceeds
The total amount of auction proceeds to date that have been recorded in the Ontario Greenhouse Gas Reduction Account (GGRA) pursuant to Ontario’s Climate Change Mitigation and Low-carbon Economy Act, 2016 are shown in the table below.
| Period | Proceeds deposited in GGRA (CAD) |
|---|---|
| Q1 2017-2018 (April to June 2017): | |
| March 2017 Ontario Auction #1 | $472,031,155.36 |
| June 2017 Ontario Auction #2 | $504,182,190.24 |
| Q2 2017-2018 (July to September 2017) | |
| September 2017 Ontario Auction #3 | $525,694,672.52 |
| Q3 2017-2018 (October to December 2017) | |
| November 2017 Ontario Auction #4 | $422,081,703.00 |
| Cumulative Total: | $1,923,989,721.12 |
Explanatory Notes
| Term | Definition |
|---|---|
| Auction Settlement Price (Current Auction) | The Current Auction allowance price that resulted from the auction, in CAD This statistic was shown in the Summary Results Report as “Settlement Price” for the Current Auction |
| Auction Settlement Price (Advance Auction) | The Advance Auction allowance price that resulted from the auction, in CAD This statistic was shown in the Summary Results Report as “Settlement Price” for the Advance Auction |
| Auction Exchange Rate (USD to CAD) | The daily average United States dollar to Canadian dollar exchange rate (USD to CAD) as provided by the Bank of Canada for the day before, or a date that is before and as close as possible to, each Ontario auction The Auction Exchange Rate is used in the determination of the Auction Reserve Price as described in the Detailed Auction Requirements and Instructions document |
| Total Allowances Available for Sale | Total allowances available for purchase in the Current Auction and Advance Auction, offered for sale by the Province of Ontario |
| Total Allowances Sold at Auction | Total allowances purchased in the Current Auction and Advance Auction |