A coalition of Alberta-based carbon capture companies traveled to Ottawa this week to warn the federal government that recent policy changes have made their projects economically unviable. Varme Energy CEO Sean Collins says changes to carbon pricing and methane regulations wiped $265 million in anticipated revenues off the company's books. The companies need carbon credits in Alberta's TIER market to trade at $118 per tonne to break even, but they are currently trading around $30. The companies are now lobbying for access to the clean fuel regulations market, where credits are surging past $440 per tonne. Critics argue the clean fuel market is working as intended and should not be opened to unrelated projects. The Pembina Institute says companies are scrambling for subpar solutions after the government weakened industrial pricing. An industry source says a departmental team intends to discuss the proposal with stakeholders, though the environment minister's office offered only a general response about ongoing engagement.
