250 R.I. Code R. 250-RICR-120-05-47.5

Current through December 26, 2024

Section 250-RICR-120-05-47.5 - Method of Allowance Distribution

A. The Department or its agent shall determine whether to participate in any of the following or combination thereof:

1. A multi-state CO₂ allowance auction in coordination with other participating states;

2. A CO₂ allowance auction separate from other participating states; or

3. A sale of CO₂ allowances.

B. In making such a determination to participate in one of the methods of distribution in §§ 47.5(A)(1) through (3) of this Part, the Department or its agent shall consider whether the following applies:

1. The auction or sale will provide benefits that meet or exceed the purposes of the CO₂ Budget Trading Program;

2. A multi-state auction capability and process is in place for the participating states;

3. The timing of a multi-state auction advances the purposes of the CO₂ Budget Trading Program;

4. The multi-state auction can provide benefits that meet or exceed the purposes of the CO₂ Budget Trading Program; and

5. The multi-state auction process would be consistent with the process described in this regulation.

C. Prior to the end of each control period, CO₂ allowances in a quantity equal to the number of CO₂ allowances allocated to the Account for a given control period will be made available for auction or sale. The Department may make CO₂ allowances for future control periods available for auction or sale.

250 R.I. Code R. 250-RICR-120-05-47.5

Amended effective 12/25/2018