Proposal for the Output-Based Pricing System Regulations: chapter 17

Section 185 of the Act requires that the Minister establish and maintain a tracking system that tracks the issuance of compliance units by the Minister; the transfer, retirement, suspension, revocation and cancellation of those compliance units; excess emissions charge payments; and any other transaction specified in the regulations. Section 186 of the Act specifies that a person responsible for a covered facility must open and maintain any accounts in a tracking system required by the regulations, and that any other person may open an account and maintain accounts in the system in accordance with the regulations. The regulations will provide rules describing accounts and identifying any accounts required.

A “non-facility market participant” (e.g., a broker, an investment company or other persons who wish to participate in the OBPS but do not own or operate a covered facility) may register and create an account in the OBPS tracking system after the increased-rate compensation deadline for the 2019 compliance period.