“Our regulation will be very clear,” Environment Minister Jim Prentice said at a press conference. “When each coal-burning unit reaches the end of its economic life, it will have to meet the new standards or close down. No trading, no offsets, no credits.”
Canada has 55 coal-burning energy plants. By 2025, 33 of these facilities will have reached the end of their economic lives. They will need to make costly upgrades to meet the anticipated new standards or be forced to shut down.
The new regulations are expected to become effective on July 1, 2015, according to an Environment Canada press release. Draft regulations should be issued early next year.