Canada has raised the federal carbon tax to C$50/t (US$40/t) as of 1 April 2022, which is expected to raise prices of gasoline, diesel and natural gas. The federal tax applies to the provinces of Alberta, Saskatchewan, Manitoba and Ontario, but provincial carbon levies will also be raised to C$50/t (US$40/t) in British Columbia (from C$45/t, i.e., US$36/t), New Brunswick (from C$40/t, i.e., US$32/t) and Prince Edward Island (from C$30/t, i.e., US$24/t). In addition, Newfoundland and Labrador will raise its price to C$50/t (US$40/t) later in 2022.
As of July 2022, individuals and families in Alberta, Saskatchewan, Manitoba and Ontario will receive rebates (federal tax-free Climate Action Incentive Payments (CAIP)), ranging between C$745 (US$595) and C$1,101 (US$880) in Saskatchewan for a family of four; rural households in these four provinces will also have a 10% bonus.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.