The Ohio EPA shall establish a voluntary ERC banking system to
track the deposit and withdrawal of ERCs and the generation, transfer and use
of ERCs in accordance with this chapter.
Prior to deposit of ERCs into the banking
system, the Ohio EPA shall do one of the following:
Verify the information submitted by the
owner or operator in accordance with paragraph (D)(1) of rule
of the Administrative Code and classify the ERCs as verified ERCs in the
information submitted by the owner or operator in accordance with paragraph
(D)(2) of rule
of the Administrative Code and classify the estimated ERCs as un-verified ERCs
in the banking system.
The banking system shall identify
Whether the ERCs are un-verified or
applicable criteria pollutant
quantity of ERCs
description of the source
county in which the ERCs were generated
(6) The ERC generation date. The ERC
generation date entered in the banking system shall reflect the anticipated
date of emissions reduction and shall be amended as necessary to reflect the
actual emissions reduction date.
Upon registration and deposit of verified
ERCs into the ERC banking system an ERC
with a unique ERC certificate number shall
be generated by the director to the verified ERC holder. Un-verified ERCs will
receive an ERC
upon verification by Ohio
If the owner of an ERC
uses or transfers ERCs to a new owner in
part or whole, the director shall generate an ERC
to the new owner reflecting the
transferred amount of ERCs and, if applicable, shall issue an ERC
to the current owner reflecting the amount
of ERCs remaining after the transfer or use. Upon issuance of a permit allowing
the use of verified ERCs for the purpose of offsetting emissions, or upon
transfer of ERCs, the banking transactions shall be updated in the banking
system, including identifying any remaining ERCs available for transferring or
use after the transaction.
Withdrawal of ERCs from the banking
Nothing in this rule shall prohibit the transfer of ERCs that
do not meet the requirements of paragraph (D) of rule
of the Administrative Code if the ERCs are withdrawn from the banking system.
ERCs and ERC certificates may be withdrawn by the current owner from the ERC
banking system at any time, upon written notice to the director. Upon
withdrawal, all ERC certificates shall be terminated and the ERCs shall be
withdrawn from the banking system.
(E) The director shall publish a list of
deposited ERCs into the banking system that are available for transfer and use
on the Ohio EPA website and the list shall be updated on a thirty day basis, at
The Ohio EPA shall maintain supporting documentation, including
permit decisions, generator information and other information required to
sufficiently characterize the emissions, which shall allow the Ohio EPA and ERC
users to determine if the ERCs are suitable for use at a specific
The director may produce an annual publication related to
publication may include, at a minimum, the costs, in dollars per ton, of ERCs
purchased for transfer or use during the calendar year, the pollutant type and
the county where the ERC was generated, transferred or used.
(2) Information on the identity of any party
involved in the ERC transactions and data used to calculate the purchase price
of the ERCs shall not be included in the publication.
(3) The document may be published by the
first of March of the following year.
Ohio Admin. Code
Five Year Review (FYR) Dates:
Prior Effective Dates: 01/08/2009,
Review (FYR) Dates: 04/03/2015 and
Statutory Authority: 3704.03(F)
Amplifies: 3704.03(A), 3704.03(F)
Prior Effective Dates: