Thank you, Mr. Chair.
I have questions about the different pricing systems used in jurisdictions around the world. From what I know, there are three types of contract pricing. One is market index. Another, such as what is used in Japan, is based on oil prices or the basket of imported crude. The third is the one used in Europe, which is based on energy carrier index contracts and is linked to the Brent price, the HFO, the LFO, the GO, the coal price, and the electricity price.
From my understanding, in Canada we use a market-indexed pricing system. Could you explain how, in Canada, the pricing system works? The reasoning behind this question is to understand which pricing system is more advantageous to the consumer and offers the lowest price to the consumer.