Md. Code Regs. 26.09.04.09

Current through Register Vol. 51, No. 22, November 1, 2024

Section 26.09.04.09 - Participation Requirements

A. Qualification.

(1) Any party wishing to participate in an auction shall open and maintain a compliance or general account as described in COMAR 26.09.01.

(2) Any party wishing to participate in an auction shall be qualified by the Department.

(3) Only those bidders found qualified through the qualification application process will be permitted to submit a bid or bids or otherwise participate in bidding in any auction.

(4) As part of the qualification application, bidders shall be required to provide information and documentation relating to the bidder's ability and authority to execute bids and honor contractual obligations, which includes, but is not limited to, the following:

(a) Information and documentation regarding the corporate identity, ownership, and capital structure of the bidder;

(b) Audited annual reports and credit reports;

(c) Identification of any indictment or felony conviction of the bidder, or of any member, director, principal, partner, or officer of the bidder or any affiliate or related entity; and

(d) A statement by the bidder identifying prior findings of nonresponsibility with regard to any Maryland procurement.

(5) Any party wishing to participate in an auction shall submit a qualification application to the Department on or before the qualification application deadline date specified in the notice, that is not sooner than 15 days following the date of publication of the notice.

(6) Qualification application information and forms shall be made available electronically on the CO₂ allowance auction website.

(7) The Department shall review each qualification application and make a determination as to the qualifications of each applicant to submit bids in the auction. The following shall apply:

(a) Failure to provide any information required by the notice or this chapter may result in the qualification application being declared incomplete or otherwise deficient;

(b) All prospective bidders shall be notified in writing of the Department's determination not later than 15 days before the date upon which the auction may be conducted;

(c) If a qualification application is determined to be incomplete or otherwise deficient, the Department shall notify the prospective bidder and state the reason; and

(d) Prospective bidders whose qualification applications have been determined to be incomplete or deficient shall be given not less than 10 business days to provide additional information and address the deficiencies.

(8) Bidders found qualified for participation shall be qualified for all subsequent auctions and shall be eligible to bid in the auctions if:

(a) The bidders maintain compliance with the financial security requirements;

(b) There is no material change to the information provided in the qualification step; and

(c) The applicant remains within one of the categories of eligible bidders described in the notice for the auction.

(9) The bidder shall notify the Department of any change in the information provided in the qualification application not later than 5 days following the end of the month during which the change occurred. The notification shall include the date the change occurred and a description of the change with sufficient detail to enable the Department to determine whether the change is material.

B. Bid Submittal Instructions.

(1) All bids shall be in a form prescribed by the Department and made available electronically on the CO₂ allowance auction website, as appropriate.

(2) All bids submitted shall be considered binding offers for the purchase of allowances under the rules of the auction.

C. If the Department determines that a bidder has provided false or misleading information, has withheld pertinent information in its qualification application, or has otherwise failed to comply with any material provision of this chapter, the Department may prohibit the bidder from participating in any future CO₂ allowance auction.

Md. Code Regs. 26.09.04.09

Regulations .09 adopted as an emergency provision effective April 4, 2008 (35:9 Md. R. 895); adopted permanently effective August 25, 2008 (35:17 Md. R. 1490)
Regulation .09A amended as an emergency provision effective December 28, 2009 (37:4 Md. R. 336); amended permanently effective May 3, 2010 (37:9 Md. R. 674)