Environment and Climate Change Canada (ECCC) announced the updated credit pricing under the Clean Fuel Regulations (CFR) for the 2024 compliance period.
Registered Emission-Reduction Funding Program (ERFP):
- $372 per credit;
- suppliers may use ERFP credits to cover up to 10% of their total reduction obligations;
- a list of approved emission-reduction programs is available Here.
Credit Clearance Mechanism (CCM):
- maximum $319 per credit;
- suppliers that do not meet their reduction targets must purchase CCM credits after the compliance deadline;
- The CCM trading window will take place from August 31 to October 31, 2025.
Fuel suppliers are encouraged to develop early compliance strategies, including investments in low-carbon fuel production, efficiency improvements, and credit trading, to minimize costs and meet reduction obligations effectively.