The Ohio EPA shall
establish
has established 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.
(A) Prior to deposit of ERCs into the banking
system, the Ohio EPA shall do one of the following:
(1) Verify the information submitted by the
owner or operator in accordance with paragraph (D)(1) of rule
3745-111-03 of the
Administrative Code and classify the ERCs as verified ERCs in the banking
system.
(2) Review the information
submitted by the owner or operator in accordance with paragraph (D)(2) of rule
3745-111-03 of the
Administrative Code and classify the estimated ERCs as un-verified ERCs in the
banking system.
(B) The
banking system
shall identify
identifies the following:
(1) Whether the ERCs are un-verified or
verified ERCs.
(2) The applicable
criteria pollutant.
(3) The
quantity of ERCs.
(4) A description
of the source.
(5) The county in
which the ERCs were generated.
(6)
The ERC generation date. The ERC generation date entered in the banking system
shall reflect
reflects the anticipated date of emissions reduction
and shall be
is amended as necessary to reflect the actual
emissions reduction date.
(C) ERC certificate.
(1) Upon registration and deposit of verified
ERCs into the ERC banking system an ERC certificate with a unique ERC
certificate number shall be
is generated
by the director to the verified ERC holder. Un-verified ERCs will receive an
ERC certificate upon verification by Ohio EPA.
(2) If the owner of an ERC certificate uses
or transfers ERCs to a new owner in part or whole, the director shall generate
an ERC certificate to the new owner reflecting the transferred amount of ERCs
and, if applicable, shall issue an ERC
certificate 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
are updated in the banking system, including
identifying any remaining ERCs available for transferring or use after the
transaction.
(D)
Withdrawal of ERCs from the banking system.
Nothing in this rule shall
prohibit
excludes the transfer of ERCs
that do not meet the requirements of paragraph (D) of rule
3745-111-04 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Administrative Code if the ERCs are withdrawn from the banking system.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ERC certificates may be withdrawn by the current owner from the ERC banking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
are terminated and the ERCs shall be
are withdrawn
from the banking system.
(E) The director shall publish, and update on a thirty-day basis, 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 a minimum.
(F) Supporting documentation.
The Ohio EPA shall
will maintain supporting documentation, including
permit decisions, generator information and other information
required
necessary to sufficiently characterize the emissions,
which shall allow
allows the Ohio EPA and ERC users to determine if the
ERCs are suitable for use at a specific facility.
(G) Annual publication.
The director may produce an annual publication related to
banking transactions.
(1) The
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
are not be
included in the publication.
(3)
The document may be published by the first of March of the following
year.
