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Another regulation filed on the same day states that “no registered participant (of the cap-and-trade system) shall, on and after the day this regulation comes into force, purchase, sell, trade or otherwise deal with emission allowances and credits.”

The gas companies are registered participants in the cap-and-trade program.

“Union confirms that it has been in compliance with Ontario Regulation 386/18, prohibition against the purchase, sale and other dealings with emission allowances and credits, since it was issued on July 3, 2018,” said a July 12 letter from Union Gas to the OEB.

Epcor also confirmed it had ceased cap and trade activities in compliance with the new regulations in a July 13 letter.

Also called off by the OEB was a nearly completed review of the utilities’ projected costs of complying with cap and trade in 2018.

“The OEB recognizes that the Climate Change Act currently remains in effect, and that elements of the government’s approach to winding down the cap and trade regime are not yet known,” said the July 6 procedural order. “However, given the revocation regulation the OEB considers it appropriate to suspend its review of the gas utilities’ 2018 cap and trade compliance plans.”

Photo by Stan Behal/Toronto Sun/Postmedia Network

Businesses have been seeking answers ever since the Ford government decided to toss out Ontario’s cap-and-trade system. Under cap and trade, the province’s largest producers of carbon emissions had to buy permits for those emissions.