After scrapping most Trudeau-era climate policies, Prime Minister Mark Carney wants to tighten rules over Canada’s industrial carbon markets, which observers say have failed to incentivize emission reductions.

IESO completed its second medium-term procurement with contracts with 27 wind and natural gas generators.

IESO is scheduled to launch its new nodal market May 1, a change it says will save Ontario $700 million over the next decade through reduced out-of-market payments and increased efficiency.

The Ontario premier said he would suspend the 25% tariff on electricity exports to the U.S. after speaking with Commerce Secretary Howard Lutnick and receiving threats of additional tariffs by President Donald Trump.

Ontario Premier Doug Ford announced the province will enact retaliatory 25% tariffs on its electricity transports to the U.S. or even halt exports if President Donald Trump doesn’t stand down in a burgeoning trade war.