Current through Register Vol. 54, No. 25, June 22, 2024
Section 145.405 - Auction participant requirements(a) To be classified by the Department as a bidder eligible to participate in a specific CO2 allowance auction, a qualified participant must meet the following: (1) Be a member of a category of those eligible to participate in the specified CO2 allowance auction as indicated by the notice of CO2 allowance auction issued under § 145.404(b) (relating to auction notice).(2) Open and maintain a compliance account or general account, established under § 145.351 (relating to CO2 allowance tracking system (COATS) accounts).(3) Submit financial security, such as a bond, cash, certified funds or an irrevocable stand-by letter of credit, in a manner and form acceptable to the Department, as specified in the notice of CO2 allowance auction issued under § 145.404(b).(b) The Department will announce the categories of parties that are eligible to participate in a specific CO2 allowance auction as part of the notice of the CO2 allowance auction, provided that an owner or operator of a CO2 budget unit located in this Commonwealth is always eligible to participate in a CO2 allowance auction.(c) For a CO2 allowance auction, the following categories of parties may be eligible to participate: (1) The owner or operator of a CO2 budget unit located in this Commonwealth.(2) The owner or operator of a CO2 budget unit located in a participating state.(4) An environmental organization.(5) A financial or investment institution.(6) Any other market participant, as may be specified in the notice of the CO2 allowance auction. This section cited in 25 Pa. Code § 145.302 (relating to definitions); 25 Pa. Code § 145.401 (relating to auction of CO2 allowances); 25 Pa. Code § 145.406 (relating to auction participant qualification); and 25 Pa. Code § 145.409 (relating to approval of auction results).