Overview

• Prime Minister Mark Carney signed an order-in-council on his first day in office to immediately terminate the consumer carbon price, previously set to rise in April.
• Canadians who received rebates under the program will still receive a final payment in the next quarter, by the end of April.
• Carney has pledged to increase carbon pricing for industrial polluters, raising concerns from Alberta Premier Danielle Smith about potential impacts on the oil and gas sector.
• The consumer carbon price elimination is expected to reduce gasoline costs by 17.6 cents per litre and natural gas costs by over 15 cents per cubic metre.
• Critics, including Conservative Leader Pierre Poilievre, accuse Carney of political maneuvering ahead of an anticipated federal election later this year.