Ontario’s energy consumption is mainly comprised of Electricity and Natural Gas with Natural Gas accounting for more than double the energy consumption of electricity. Fossil Fuels when burned create greenhouse gases that may be harmful to the environment. The main greenhouse gas which is considered to be harmful to the environment is Carbon Dioxide (CO2).
As of October 3, 2016, the Canadian Government has enacted the “Pan-Canadian Approach to Pricing Carbon Pollution”. The Canadian Government has agreed to reduce the greenhouse gas (GHG) emissions to 30% below the 2005 levels. As of 2005 the national output of CO2 equivalent was 749 megatonnes CO2e and by 2030 the target national output is 524 Mt CO2e. The target output in 2020 is 622 Mt CO2e. As of 2014 the national output of CO equivalent was 733 Mt CO2e
The below chart uses the two emissions targets given by the federal government and interpolates the rest of the points. The targets given by the federal government are:
- 622 Mt/yr CO2e by 2020 (17% reduction from 2005 Baseline)
- 524 Mt/yr CO2e by 2030 (30% reduction from 2005 Baseline)
Figure 1 – National Carbon Dioxide Equivalent Targets – Source
In 2018 all of Canada will have carbon pricing which will increase the cost of natural gas and gasoline. The cost of natural gas and gasoline will steadily increase until the targets above targets are met.
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