Section 250-RICR-120-05-47.8 - Frequency and Quantity of CO[2] Allowances Offered for AuctionA. The initial auction shall be conducted at such time and manner as determined by the Department or its agent.B. Auctions 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 the auction, the Department or its agent shall set a binding reserve price to be accepted for CO2 allowances in any auction. Such reserve price shall be disclosed to the public or prospective bidders.D. All unsold allowances of an allocation year may be made available in the succeeding auction of that allowance's allocation year, or control period if its allocation year has ended.E. No bidder or combination of bidders that have related beneficial interest may bid on more than twenty-five percent (25%) of the allowances available in any given auction.F. The Department or its agent shall make CO2 allowances available for auction 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-120-05-47.8
Amended effective 12/25/2018