Topic:"Cap And Trade" in M10504

Federal and Provincial Carbon Price Frameworks - The Government of Canada introduced a new proposed trajectory for carbon pricing in Canada in its report [A Healthy Environment and a Healthy Economy](https://www.canada.ca/en/services/envir...

AI summary Canada's proposed carbon pricing trajectory starts at $65/tonne in 2023, rising to $170/tonne by 2030. Nova Scotia has not yet decided on a post-2022 framework, with options including federal programs or a provincial cap-and-trade system. NS Power is modeling compliance scenarios, including the federal Output Based Pricing System (OPBS) and a revised hard cap approach aligned with the 2020 Integrated Resource Plan.

Roadmap Item 6 states: Track the ongoing development of the Nova Scotia Cap-and-Trade Program, including auction results and developing regulations. In particular, monitor GHG market size for indications that value from incremental allowan...

AI summary The document emphasizes tracking the Nova Scotia Cap-and-Trade Program's development, including auction results and regulations. It highlights the importance of monitoring GHG market size to assess the value of incremental allowance sales for long-term resource planning, particularly affecting non-emitting generation, DSM levels, and coal retirement.

Nova Scotia Cap and Trade Program - Since the conclusion of the 2020 IRP, there has been no update to the provincial cap and trade program for the 2019-2022 compliance period.

AI summary The document notes that the Nova Scotia Cap and Trade Program has not been updated since the conclusion of the 2020 Integrated Resource Plan, specifically for the 2019-2022 compliance period.

- There have been two auctions completed under the Cap and Trade program in 2021: Auction Date Allowances Sold Floor Price Settlement Price June 2021 767,000 $21.09 $36.71 November 2021 790,000 $21.09 $21.09 • NS Power looks forward to eng...

AI summary Two auctions under the Cap and Trade program were completed in 2021, with allowances sold at prices ranging from $21.09 to $36.71. NS Power plans to engage with the Province on a carbon framework for 2023 and beyond.

1. Planning Environment Changes - Slide two of NS Power's Evergreen IRP 2022 Scope and Timeline identifies several significant - environmental policy changes that have occurred since the completion of NS Power's IRP in - November 2020. The...

AI summary The document outlines key environmental policy changes impacting Nova Scotia's energy planning, including a 2030 renewable electricity standard (80% from renewables, 1100 GWh from IPPs), the Environmental Goals and Climate Change Reduction Act (EGCCRA) mandating coal phase-out by 2030 and GHG targets, federal carbon pricing updates, and a draft net-zero electricity sector discussion paper. E1 supports revising IRP scenarios to reflect these changes.

Treatment of Carbon Pricing - E1 believes the effects of carbon pricing remain relevant in the context of the 2022 Evergreen - IRP Process. In the IRP Action Plan update, NS Power states: - NS Power is currently modeling multiple options f...

AI summary E1 emphasizes the need to incorporate diverse carbon pricing options in the 2022 Evergreen IRP Process, noting NS Power's modeling of GHG compliance scenarios. E1 recommends treating demand response as firm capacity, including electrification costs in IRP modeling, updating load forecasts, and pairing DSM scenarios with IRP sensitivities to address environmental policy and electrification impacts.

directs the filing of a further report by October 31, 2022 In accordance with the NSUARB's direction, please accept the following as NS Power's updated report on the Company's IRP evergreen process. NS Power had been working to prepare the...

AI summary NS Power updated its Integrated Resource Plan (IRP) evergreen process timeline due to legislative amendments and stakeholder feedback delays. The Province of Nova Scotia's proposed changes to the Public Utilities Act and Environment Act, including a transition from cap-and-trade to output-based pricing, necessitate revised carbon policy assumptions. NS Power committed to providing progress updates by Q4 2022.

PLANNING ENVIRONMENT CHANGES PROVINCIAL CARBON POLICY - Under the terms of the federal carbon framework to 2030, the Province of Nova Scotia was required to determine whether to extend the existing cap-and-trade system, create a set of pro...

AI summary Nova Scotia is transitioning from a cap-and-trade system to a provincial Output-Based Performance Standards (OBPS) system starting in 2023, as required by the federal carbon framework. The Environmental Act has been updated to reflect this change, though specific regulations for the OBPS have not yet been released. NS Power will incorporate the new standards into its 2023 to 2030 Integrated Resource Plan (IRP) model once details are available.