Wash. Admin. Code § 173-446-385 - Price ceiling unit sales
(1) Price ceiling
unit sales shall only be held between the last allowance price containment
reserve auction before the compliance deadline for a compliance period and the
compliance period deadline itself.
(2) Price ceiling units shall be sold at the
ceiling price.
(3) Price ceiling
unit sales shall be held only if a covered entity requests a price ceiling unit
sale at least 10 days before the immediately upcoming deadline for a compliance
period.
(4) In a request for a
price ceiling unit sale, the covered entity must provide an accounting to
ecology showing that it has insufficient compliance instruments to meet its
compliance obligations for the immediately upcoming deadline for a compliance
period. This accounting must include any confirmed and finalized agreements to
transfer compliance instruments to the covered entity prior to the compliance
deadline.
(5) If the statutory
conditions for the sale of price ceiling units outlined above are met, ecology
shall instruct the financial services administrator to begin to accept cash
payment for purchases from price ceiling sales no earlier than 10 business days
after the previous allowance price containment reserve auction and to cease
accepting payments no later than seven business days thereafter.
(7) The financial services administrator will
inform ecology of the amounts of payments received from covered entities no
later than one business day after it ceases to accept payments.
(8) After a sale, ecology will transfer
purchased price ceiling units directly to each purchaser's compliance account
for retirement at the immediately upcoming compliance deadline.
Notes
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