Clean Electricity Regulations (SOR/2024-263)

Marginal note:Corrected emissions report

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  38 (1) A responsible person must submit to the Minister a corrected emissions report for a unit no later than 120 days after the day on which

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    (a) the responsible person submits a notice under section 37 that indicates that the responsible person has become aware of an error or omission that resulted in the issuance of an incorrect number of compliance credits for the unit; or

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    (b) the Minister notifies the responsible person of an error or omission that resulted in the issuance of an incorrect number of compliance credits for the unit.

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  Marginal note:Contents of report

  (2) The corrected emissions report must contain the information set out in Schedule 5 for the same calendar year as the calendar year to which the error or omission relates, along with

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    (a) the information that required correction and a description of the corrections made;

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    (b) a description of the circumstances that led to the error or omission and an indication of the reasons why the error or omission was not previously detected; and

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    (c) a description of the measures that have been and will be implemented to avoid errors or omissions of the same type.

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  Marginal note:Remittance obligation

  (3) If, as a result of the error or omission, the number of compliance credits issued for a unit is greater than the number of compliance credits that would have been issued had the correct quantities been used to calculate that number at the time of issuance, the responsible person must remit to the Minister, no later than the December 15 that follows the time limit referred to in subsection (1), a number of compliance credits and, if applicable, Canadian offset credits that is equal to the difference between the number of compliance credits issued and the number that should have been issued.

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  Marginal note:Order of precedence

  (4) The credits remitted for a unit for the purposes of subsection (3) must be, in the following order of precedence,

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    (a) compliance credits issued for the unit for the same calendar year as the calendar year to which the error or omission relates;

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    (b) if an insufficient number of compliance credits referred to in paragraph (a) are held by the responsible person to fulfill the remittance obligation, any other compliance credits that are held in respect of that unit on the day that the notice referred to in paragraph (1)(a) or (b) is provided; or

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    (c) if an insufficient number of compliance credits referred to in paragraphs (a) and (b) are held by the responsible person to fulfill the remittance obligation, any combination of transferable compliance credits and Canadian offset credits.

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  Marginal note:Conditions

  (5) The responsible person may only remit compliance credits and Canadian offset credits for a unit for the purposes of this section if

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    (a) in the case of compliance credits, the credits were issued

    • (i) for a calendar year that is no more than five calendar years before the calendar year in which they are remitted, and

    • (ii) for a unit that reports to the same electricity system operator as the unit for which they are remitted; and

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    (b) in the case of Canadian offset credits,

    • (i) the credits were issued for greenhouse gas reductions or removals that occurred no more than eight calendar years before the calendar year in which they are remitted, and

    • (ii) the number remitted does not exceed the number that is equal to the difference between

      • (A) the sum of the maximum number of Canadian offset credits that may be remitted for the unit under section 28 for each calendar year beginning with the calendar year to which the error or omission relates and ending with the calendar year in which the credits are remitted, and

      • (B) the sum of the number of Canadian offset credits that have already been remitted for the unit for each of those calendar years.

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  Marginal note:Partial remittance

  (6) Despite subsection (3), if a responsible person does not hold and is unable to obtain a sufficient number of compliance credits or Canadian offset credits that meet the conditions set out in subsections (4) and (5) to fulfill the remittance obligation by the time limit set out in subsection (3), the responsible person must remit the number of credits that it was able to obtain by that time limit and remit to the Minister the outstanding number of compliance credits or Canadian offset credits in the following calendar year — or, if it still does not hold and is unable to obtain a sufficient number of credits in that following calendar year, in a subsequent calendar year — in accordance with subsection (7).

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  Marginal note:Remittance in following year

  (7) Credits remitted for a unit after the time limit set out in subsection (3) must be

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    (a) compliance credits issued for the unit; or

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    (b) if an insufficient number of compliance credits referred to in paragraph (a) are held by the responsible person to fulfill the remittance obligation, any combination of transferable compliance credits or Canadian offset credits that the responsible person is able to obtain in that calendar year that meet the conditions set out in subsection (5).

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  Marginal note:Timing of remittance

  (8) Compliance credits and Canadian offset credits remitted under this section are considered to be remitted on the day on which a reconciliation report that contains all of the information set out in sections 1, 3 and 5 of Schedule 6 in respect of the credits is submitted to the Minister in accordance with section 41.