Clean Fuel Regulations Update: Credit Prices for 2024 Compliance Period

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.

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