WASHINGTON (Sputnik) — The new cap-and-trade regulation will increase heating bills by $5 a month, and add 4.3 cents to gasoline prices, Canadian Press reported.
The first auction of pollution credits, which is likely to raise $1.9 billion a year, will take place in 2017, according to media reports.
In April, more than 160 countries signed a climate agreement in Paris, France under the auspices of the United Nations. The agreement seeks to curb global warming by limiting global average temperatures to less than 2 degrees Celsius above pre-industrial levels.
