New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter XI - New York State Energy Research And Development Authority
Part 507 - Co Allowance Auction Program
Section 507.3 - Multi-state auctions
Universal Citation: 21 NY Comp Codes Rules and Regs ยง 507.3
Current through Register Vol. 46, No. 12, March 20, 2024
(a) The authority shall participate in a multi-state CO 2 allowance auction or auctions if the authority determines, in consultation with the committee, that:
(1) a multi-state auction
capability and process is in place for the participating states;
(2) the multi-state auction can provide
benefits that meet or exceed the objectives of the auction and purposes of the
account, as described in this Part; and
(3) the multi-state auction process would be
consistent with the process described in this Part.
(b) Should the authority, in consultation with the committee, find that these conditions have not been satisfied, the authority may conduct a New York State auction or auctions pursuant to this Part.
(c) The authority shall retain control over the proceeds associated with the sale of all of New York's CO 2 allowances, whether sold in a multi-state or a New York State CO 2 allowance auction.
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