Bill 60 has passed in the PEI Legislature, and as a result, the PEI carbon levy rates will increase effective 12:01am on May 9, 2022.
Petroleum wholesalers and retailers should ensure that on-hand tax paid inventories are completed at the close of business on May 8, 2022 in preparation for a carbon levy self-declaration. Additional information on the carbon levy self-declaration will be sent to wholesalers and retailers in the coming days.
Prince Edward Island has actively participated in international efforts to combat climate change. The Government of Prince Edward Island’s five-year Climate Change Action Plan provides a framework for both adapting to changing climate as well as reducing greenhouse gas emissions. These efforts include working with the Government of Canada to introduce carbon pricing on Prince Edward Island.
What is the carbon levy?
The made-in-PEI carbon pricing plan is focused on two parts, as follows:
- a carbon price for consumers, administered by the province.
- an output-based pricing system for large emitters administered by the federal government.
When will carbon pricing start?
Carbon pricing started in PEI on April 1, 2019. The latest changes to the carbon levy were effective on May, 9, 2022. More information for wholesalers and retailers can be found in the following carbon levy notices:
Are you a petroleum wholesaler, retail vendor or consumer?
To learn more about your responsibilities under the new legislation Climate Leadership Act and regulations, visit Carbon Levy Roles and Responsibilities.