### Q-2, r. 46.1 - Regulation respecting a cap-and-trade system for greenhouse gas emission allowances

69. The maximum quantity of early reduction credits that may be issued to an emitter that meets the requirements of this Chapter is calculated using equations 69-1 to 69-5:
Equation 69-1
Where:
ERC max = Maximum quantity of early reduction credits that may be issued;
NY = Number of calendar years included in the reduction period;
k = Total number of reference units of the establishment referred to in Table B of Part I of Appendix C;
j = Reference unit;
E Reference (j) = Average annual GHG emissions resulting from the production or use of reference unit j during the reference period, calculated using equation 69-2, in metric tonnes CO2 equivalent;
E Reduction (j) = Average annual GHG emissions resulting from the production or use of reference unit j during the reduction period, calculated using equation 69-3, in metric tonnes CO2 equivalent;
P j = - 1 if P Reference (j) ≤ P Reduction (j);
- (P Reduction (j) /P Reference (j) if P Reference (j) > P Reduction (j);
Where: P Reference (j) = Average annual quantity of reference units j produced or used during the reference period, calculated using equation 69-4;
P Reduction (j) = Average annual quantity of reference units j produced or used during the reduction period, calculated using equation 69-5.
Equation 69-2
Where:
E Reference (j) = Average annual GHG emissions resulting from the production or use of reference unit j during the reference period, in metric tonnes CO2 equivalent;
E i j = GHG emissions resulting from the production or use of reference unit j for year i, in metric tonnes CO2 equivalent;
j = Reference unit;
i = Each year included in the reference period, namely 2005, 2006 or 2007;
Equation 69-3
Where:
E Reduction (j) = Average annual GHG emissions resulting from the production or use of reference unit j during the reduction period, in metric tonnes CO2 equivalent;
E i j = GHG emissions resulting from the production or use of reference unit j for year i, in metric tonnes CO2 equivalent;
i = Each year included in the reduction period, namely 2008, 2009, 2010 and 2011;
j = Reference unit;
m = Year in which the reduction period begins;
n = Number of consecutive years in the reduction period;
Equation 69-4
Where:
P Reference (j) = Average annual quantity of reference units produced or used during the reference period;
P i j = Quantity of reference units produced or used during year i;
i = Each year included in the reference period, namely 2005, 2006 or 2007;
j = Reference unit;
Equation 69-5
Where:
P Reduction (j) = Average annual quantity of reference units produced or used during the reduction period;
P i j = Quantity of reference units produced or used during year i;
i = Each year included in the reduction period, namely 2008, 2009, 2010 or 2011;
j = Reference unit;
m = Year in which the reduction period begins;
n = Number of consecutive years in the reduction period.
O.C. 1297-2011, s. 69.