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5mo ago

Alberta Freezes Industrial Carbon Price at $95 Per Tonne Indefinitely

Premier Danielle Smith cites U.S. tariffs and competitiveness concerns while reaffirming commitment to emissions reduction through technology.

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Alberta Premier Danielle Smith speaks with reporters before a meeting in Halifax, Monday, July 15, 2024. THE CANADIAN PRESS/Darren Calabrese
A dump truck works near an oil sands extraction facility near Fort McMurray, Alta.
Environment and Protected Areas Minister Rebecca Schulz speaks after Premier Danielle Smith makes an announcement to help grow Alberta's energy sector while reducing emissions on Monday, Nov. 25, 2024. in Leduc County.

Overview

  • Alberta Premier Danielle Smith announced an indefinite freeze on the province's industrial carbon price, halting it at $95 per tonne effective immediately.
  • The carbon price was previously scheduled to rise to $110 per tonne in 2026 and $170 per tonne by 2030 under an agreement with Ottawa.
  • Smith justified the freeze as necessary to protect Alberta's industries and jobs, referencing economic pressures from U.S. tariffs and global competition.
  • Environment Minister Rebecca Schulz stated that exceeding $100 per tonne would render Alberta's industries uncompetitive but emphasized the province's continued focus on emissions reduction.
  • Revenue from the TIER program, which charges emitters for exceeding limits, will still fund technology-driven initiatives aimed at reducing greenhouse gas emissions.