25 Pa. Code § 145.401 - Auction of CO[2] allowances
(a)
Except as provided under subsection (b), the Department will participate in a
multistate CO2 allowance auction in coordination with
other participating states based on the following:
(1) A multistate auction capability and
process is in place for the participating states.
(2) The multistate auction can provide
benefits to this Commonwealth that meet or exceed the benefits conferred on
Pennsylvania through its own Pennsylvania-run auction process.
(3) The multistate auction process is
consistent with the process described in §§
145.401-145.409 (relating to
CO2 allowance auctions).
(4) The multistate auction process includes
monitoring of each CO2 allowance auction by an
independent monitor to identify any collusion, market power or price
manipulation.
(b) Should
the Department find that the conditions in subsection (a) are no longer met,
the Department may determine to conduct a Pennsylvania-run auction in
accordance with §§
145.341-145.343 (relating to Pennsylvania
CO2 Budget Trading Program base budget;
CO2 allowance allocations; and distribution of
CO2 allowances in the air pollution reduction account)
and 145.401 -145.409.
(c) The Department may delegate the
implementation and administrative support functions for any
CO2 allowance auction conducted under §§
145.401-145.409 to an agent qualified to
conduct auctions, including a regional entity, provided that the agent shall
perform all functions under the direction and oversight of the
Department.
(d) The Department will
retain its authority to enforce compliance with all sections of this subchapter
and will retain control over the proceeds associated with the sale of
Pennsylvania CO2 allowances, whether sold in a
multistate or Pennsylvania CO2 allowance auction, and
will credit the proceeds to the Clean Air Fund established under the
act.
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