New Jersey Administrative Code
Title 7 - ENVIRONMENTAL PROTECTION
Chapter 27C - CO[2] BUDGET TRADING PROGRAM
Subchapter 11 - CO[2] ALLOWANCE AUCTIONS
Section 7:27C-11.10 - Bidder limitations

(a) A bidder shall submit a bid in an amount that does not exceed the amount of financial security provided to the Department.

(b) A bidder, including any affiliate or agent of such bidder, or any combination of bidders with related beneficial interests, shall purchase NO[x] more than 25 percent of the CO[2] allowances offered for sale in any one CO[2] allowance auction. Such limitation, which will not be increased by CCR allowances, will be published in the auction notice pursuant to N.J.A.C. 7:27C-11.5(b).