Clean Electricity Regulations (SOR/2024-263)

Marginal note:Remittance — December 15

• The following provision is not in force.

  33 (1) The quantity of CO₂ assigned to C_c in subsection 12(1) corresponds to the number of compliance credits that the responsible person remits to the Minister for the unit on or before the December 15 that follows the calendar year for which the remittance is made.

• The following provision is not in force.

  Marginal note:Conditions

  (2) A responsible person may only remit a compliance credit for the purposes of subsection 12(1) if the following conditions are met:

  • The following provision is not in force.

    (a) the remittance is for a calendar year before 2050;

  • The following provision is not in force.

    (b) the compliance credit was issued for a calendar year that is no more than five calendar years before the calendar year in which it is remitted;

  • The following provision is not in force.

    (c) in the case of a non-transferable compliance credit, the credit is remitted for the unit for which it was issued; and

  • The following provision is not in force.

    (d) in the case of a transferable compliance credit, the credit is remitted

    • (i) for a unit that

      • (A) met, during the calendar year for which the remittance is made, the conditions to be issued transferable compliance credits that are set out in subsections 31(1) and 32(3), and

      • (B) reports to the same electricity system operator as the unit for which the transferable compliance credit was issued, or

    • (ii) for the unit for which it was issued.

• The following provision is not in force.

  Marginal note:Timing of remittance

  (3) A compliance credit is considered to be remitted on the day on which a reconciliation report that contains all of the information set out in sections 1 to 3 of Schedule 6 in respect of the compliance credit is submitted to the Minister in accordance with section 41.

• The following provision is not in force.

  Marginal note:Retirement

  (4) A compliance credit remitted under these Regulations may only be remitted once and, once remitted to the Minister, is retired and must not be used again.