On April 16, 2024, Canada’s Deputy Prime Minister and Minister of Finance, Chrystia Freeland, delivered the Liberal Government’s federal budget, Fairness for Every Generation (Budget 2024). The most notable tax measure in Budget 2024 is the proposal to increase the capital gains inclusion rate from one-half to two-thirds, for capital gains realized on or after June 25, 2024. This measure will apply to all capital gains realized by corporations and trusts, but only will apply to individuals in respect of the portion of capital gains realized in the year that exceeds $250,000 ..read more

On April 3, 2024, the Government of Alberta (Province) provided a further update on the specifics of eligibility and eligible costs for the Alberta Carbon Capture Incentive Program (ACCIP). The ACCIP will support and accelerate the development of new carbon capture, utilization and storage (CCUS) infrastructure in Alberta by providing incentives for facilities to incorporate CCUS technology into their operations. The ACCIP program is expected to provide between $3.2 to $5.3 billion of support between 2024 and 2035. We previously reported on the main features on the ACCIP, which can be read her ..read more

On March 11, 2024, the Minister of Affordability and Utilities (MUA) directed the Alberta Electric System Operator (AESO) and the Alberta Market Surveillance Administrator (MSA) to commence drafting a technical design proposal for a Restructured Energy Market (REM). This directive was influenced by informed recommendations from the respective reports of the AESO and the MSA. The AESO Report revealed its preliminary plan for the REM, the chosen strategy designed to improve system reliability and affordability ..read more

On February 16, 2024, the federal government released an update to proposed Clean Electricity Regulations (Updated CER). This update follows significant feedback gathered through stakeholder engagement. For a detailed discussion of the original draft Clean Electricity Regulations (CER), please refer to our previous blog post, "Canada Releases Vision for Transforming Electricity Sector and Clean Energy Regulations ..read more

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On February 22, 2024, the Government of British Columbia announced in its 2024 Budget and Fiscal Plan (the “2024 Budget”) that it will implement a provincial First Nations Equity Financing Framework (the “Framework”) to bolster the development of economic partnerships between First Nations and the business sector ..read more

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The Ontario Ministry of Energy released its much anticipated Electrification and Energy Transition Panel Report on January 19, 2024. While the Report advances important conversations concerning the need for integrated energy system planning and meaningful Indigenous participation, it missed a significant opportunity to provide much needed regulatory clarity ..read more

The Fall Economic Strategy (“FES”) unveiled on November 21, 2023 has received a warm welcome from many players involved in Canada’s natural resource sector. Following on the heels of Budget 2023, which emphasized the need for tools to enable the full participation of Indigenous communities in the economy in order to advance economic reconciliation, the FES announced that the federal government proposes to develop an Indigenous Loan Guarantee to enable Indigenous communities to have greater access to affordable capital helping to unlock opportunities for equity ownership in major reso ..read more

The energy storage market in Canada is poised for exponential growth. Increasing electricity demand to charge electric vehicles, industrial electrification, and the production of hydrogen are just some of the factors that will drive this growth. With the country’s target to reach zero-net emissions by 2050, energy storage is a strategic component in the energy transition and a new economic frontier. Accordingly, opportunities for energy storage development and financing are rising, similar to the heightened interest in the solar technologies a decade ago. Such opportunities are motivated by po ..read more