25 Pa. Code § 145.405 - Auction participant requirements

(a) To be classified by the Department as a bidder eligible to participate in a specific CO₂ allowance auction, a qualified participant must meet the following:

(1) Be a member of a category of those eligible to participate in the specified CO₂ allowance auction as indicated by the notice of CO₂ allowance auction issued under § 145.404(b) (relating to auction notice).

(2) Open and maintain a compliance account or general account, established under § 145.351 (relating to CO₂ allowance tracking system (COATS) accounts).

(3) Submit financial security, such as a bond, cash, certified funds or an irrevocable stand-by letter of credit, in a manner and form acceptable to the Department, as specified in the notice of CO₂ allowance auction issued under § 145.404(b).

(b) The Department will announce the categories of parties that are eligible to participate in a specific CO₂ allowance auction as part of the notice of the CO₂ allowance auction, provided that an owner or operator of a CO₂ budget unit located in this Commonwealth is always eligible to participate in a CO₂ allowance auction.

(c) For a CO₂ allowance auction, the following categories of parties may be eligible to participate:

(1) The owner or operator of a CO₂ budget unit located in this Commonwealth.

(2) The owner or operator of a CO₂ budget unit located in a participating state.

(3) A broker.

(4) An environmental organization.

(5) A financial or investment institution.

(6) Any other market participant, as may be specified in the notice of the CO₂ allowance auction.

Notes

25 Pa. Code § 145.405

This section cited in 25 Pa. Code § 145.302 (relating to definitions); 25 Pa. Code § 145.401 (relating to auction of CO₂ allowances); 25 Pa. Code § 145.406 (relating to auction participant qualification); and 25 Pa. Code § 145.409 (relating to approval of auction results).