250 R.I. Code R. 250-RICR-120-05-47.9

Current through December 26, 2024

Section 250-RICR-120-05-47.9 - Auction of CO[2] CCR Allowances

A. CO₂ CCR allowances shall only be sold at an auction in which total demand for allowances, above the CCR trigger price, exceeds the number of CO₂ allowances available for purchase at the auction, not including any CO₂ CCR allowances.

B. If the condition of § 47.9(A) of this Part is met at an auction, then the number of CO₂ CCR allowances offered for sale by the Department or its agent at the auction shall be equal to the number of CO₂ CCR allowances in the Rhode Island Auction Account at the time of the auction.

C. After all of the CO₂ CCR allowances in the Rhode Island Auction Account have been sold in a given calendar year, no additional CO₂ CCR allowances will be sold at any auction for the remainder of that calendar year, even if the condition of § 47.9(A) of this Part is met at an auction.

D. At an auction in which CO₂ CCR allowances are sold, the reserve price for the auction shall be the CCR trigger price.

E. If the condition of § 47.9(A) of this Part, is not satisfied, no CO₂ CCR allowances shall be offered for sale at the auction, and the reserve price for the auction shall be equal to the minimum reserve prices.

250 R.I. Code R. 250-RICR-120-05-47.9

Amended effective 12/25/2018