Section 250-RICR-120-05-47.11 - Frequency and Quantity of CO[2] Allowances Offered for SaleA. The initial sale shall be conducted at such time and manner as determined by the Department or its agent.B. Sales will be held, at least, annually and may be held as often as necessary to effectuate the purposes of the CO2 Budget Trading Program.C. Prior to each sale, the Department or its agent shall set a price for allowances to be sold in the sale. The set price shall be no lower than the reserve price at the prior multi-state auction.D. Any CO2 allowances left unsold in any sale may be made available, in quantities and in a manner determined by the Department or its agent, for distribution in a subsequent sale. At the end of each control period, the Department or its agent may retire any unsold allowances from the concluding control period.E. No buyer or combination of buyers that have related beneficial interest may buy more than twenty-five percent (25%) of the allowances available for sale in any given sale.F. The Department or its agent shall make CO2 allowances available for sale in lot sizes of one thousand (1,000) allowances, except where available supply requires a smaller lot size.250 R.I. Code R. 250-RICR-120-05-47.11
Amended effective 12/25/2018