N.H. Rev. Stat. § 125-O:26

Current through the 2024 Legislative

Section 125-O:26 - Auction of Budget Allowances

Any rules adopted by the department relative to auctions, pursuant to RSA 125-O:8, I(d), shall provide that they:

I. Shall be conducted based on the schedule and frequency adopted by the department in consultation with other entities participating in the RGGI program;

II. Shall include the sale of allowances for current years and may include the sale of allowances for future years to promote transparency and price stability in a manner to be determined by the department in coordination with the regional organization;

III. Shall include auction design elements that minimize allowance price volatility, guard against bidder collusion, and mitigate the potential for market manipulation;

IV. Shall include provisions to address, and to the extent practicable minimize, the potential for allowance market price volatility during the initial control period of the RGGI program;

V. Shall include provisions to ensure the continued market availability of allowances to entities regulated under a greenhouse gas emissions allowance trading program, taking into account the outcomes of auctions and monitoring of the allowance market, which may include the adoption of a flexible process that allows for ongoing modification of auction design and procedures in response to allowance market conditions and allowance market monitoring data, provided that the process allows for public comment and input; and

VI. May be open to all qualified participants, and all qualified participants may sell or otherwise agree to transfer any or all allowances to any eligible entity.

RSA 125-O:26

Amended by 2013 , 236: 12, eff. 1/1/2014.

Repealed by 2012 , 281: 11, eff. upon the date that the commissioner of the department of environmental services certifies to the secretary of state and the director of the office of legislative services that any 2 New England states participating in the regional greenhouse gas initiative end or agree to end their participation in the initiative or if a New England state which has at least 10 percent of the total load of the New England states participating in the regional greenhouse gas initiative ends its participation in the initiative.

Amended by 2012 , 281: 4, eff. 1/1/2013.

2008, 182 : 2 . 2013, 236 : 12 , eff. Jan. 1, 2014.