OBPS – Output-based pricing system; a component of the FCPP that provides an entity relief from the full impact of the Federal Carbon Charge. A registered entity will have a compliance obligation based on the portion of its emissions that exceed the annual output-based emissions limit.

OBPS regulations – Output-Based Pricing System Regulations published in Canada Gazette II on June 28, 2019. 12

OBPS VOLUMES - Volumes of natural gas consumed in the operation of Enbridge Gas’s transmission and storage compressor facilities (which are subject to the OBPS as Enbridge Gas’s transmission and storage system is a “covered facility” under Part 2 of the GGPPA).

OBS – Output-based standard; a percentage of production-weighted national average emissions intensity applied to annual facility production to determine annual facility emission limits under the OBPS.

OEB – The Ontario Energy Board.

OFFSET CREDITS – Represent greenhouse gas emissions reductions or removal enhancements generated from Canadian voluntary project-based activities that are not subject to carbon pricing and that would not have occurred under business as usual conditions.13

Order – The Greenhouse Gas Emissions Information Production Order published in Canada Gazette II on October 31, 2018. 14