Regulations posted for public review, last step in preparing for provincial output-based pricing system23 November 2020
FREDERICTON (GNB) – Regulations to support New Brunswick’s Output-Based Pricing System under the Climate Change Act were posted today for public review and comment. The proposed regulation sets a path forward for the pricing system to come into effect retroactive to Jan. 1, 2020.
All that remains after the public review is for the federal government to approve a start date to discontinue their pricing system so that the provincial system can come into effect.
“Time is of the essence for New Brunswick’s large emitters who are still subject to the costly federal system until that system formally stands down,” said Environment and Climate Change Minister Gary Crossman. “The provincial government has negotiated in good faith with its federal counterparts with a goal of having the provincial system implemented as soon as possible.”
In June 2019, the provincial government released Holding Large Emitters Accountable: New Brunswick’s Output-Based Pricing System. This policy proposal, which was submitted to the federal government for approval in July 2019, received approval fourteen months later in September 2020.
“While we fully recognize that the current COVID-19 situation has disrupted normal government business, in these uncertain economic times it is crucial that New Brunswick’s large emitters, who by and large are the most trade-exposed businesses in the country, be treated equitably,” said Crossman. “These businesses are the economic backbones of many communities throughout New Brunswick and being subject to the most stringent and costly system in Canada will only put further undue hardship on these businesses and communities.”
Under the new provincial system, large industrial emitters will be required to reduce their greenhouse gas emissions intensity by 10 per cent by 2030. The New Brunswick system is consistent with the other Canadian output-based pricing systems including Saskatchewan, Alberta, Newfoundland and Labrador.23-11-20