Ongoing US-Canada trade tensions, including tariffs, have prompted repeated threats from Ontario Premier Doug Ford to restrict electricity exports to states like New York, Michigan, and Minnesota as leverage. However, these have produced only brief surcharges without sustained action. Recent developments, including Ontario's new imports from US sources to offset nuclear refurbishments and Hydro-Quebec's shift toward net imports amid low reservoir levels and expanded US contracts, underscore mutual grid interdependence across dozens of transmission lines. Provincial utilities continue net exports while facing domestic supply constraints, and bilateral trade talks remain active. Trader consensus at 99.5% for no cutoff by December 31 reflects these structural and economic barriers, though an abrupt escalation in tariffs or provincial directives before year-end could still alter outcomes.
如果加拿大透過聯邦政府或省政府的授權代表(包括透過國有企業)宣布行使權限,在市場建立至 2026年12月31日, 下午11:59 ET 期間,全部或部分切斷或限制對美國的電力出口,本市場將判定為「是」。否則,此市場將以「否」結算。 因水情或供應狀況、電網可靠性、維護、商業或合約因素,或其他一般營運決策而造成的減少或限制,不符合資格。 只要宣布採取符合資格的行動,即足以判定為「是」,不論電力出口是否實際受到限制或切斷,也不論該行動之後是否遭到暫停或撤銷。 符合資格的行動必須限制電力出口的數量或流量。僅實施附加費、稅項、關稅或其他以價格為基礎的措施,不足以符合資格。 若聲明表示加拿大或某省可能採取、正在考慮採取,或只有在某項條件達成或未達成時才會採取此類行動,則不符合資格。 本市場的主要判定來源為加拿大聯邦或省政府的官方資訊;但也可採用可信報導所形成的共識。
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