Output-Based Pricing System Regulations

Marginal note:Surplus credits

• 59 (1) For the purposes of section 175 of the Act and subject to subsection (2), the number of surplus credits, equivalent to the difference between the emissions limit and the quantity of GHGs emitted from the covered facility, that the Minister issues is based on what is reported in the annual report submitted for the compliance period if the emissions limit that was set out in the report was calculated in accordance with these Regulations, unless a material discrepancy within the meaning of subsection 49(2) exists with respect to the total quantity of GHGs or the production from one of the specified industrial activities that is used in the calculation of the emissions limit for the compliance period.

• Marginal note:Exception

  (2) The Minister will not issue surplus credits if the Minister has established the emissions limit or determined the quantity of GHGs emitted from the covered facility for the compliance period under section 53.