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 507.8 - Participant eligibility and limitations

Universal Citation: 21 NY Comp Codes Rules and Regs ยง 507.8

Current through Register Vol. 46, No. 12, March 20, 2024

(a) The owners of CO 2 budget units located in New York shall be eligible to participate in all auctions.

(b) Categories of bidders that may be eligible to participate in auctions include:

(1) owners of CO 2 budget units located outside of New York but within those states that have final CO 2 budget training regulatory provisions in place at the time of the CO 2 allowance auction and are participating states;

(2) owners of fossil fuel-fired generation units located outside of the participating states;

(3) brokers;

(4) environmental groups;

(5) financial and investment institutions; and

(6) other market participants.

(c) For the initial CO 2 allowance auction, all categories of bidders will be eligible to participate. For each subsequent auction, the authority, in consultation with the committee, may preclude or limit the participation of any one or all of the categories of bidders. Notification of eligible categories of bidders will be included in each notice of CO 2 allowance auction.

(d) Any bidder wishing to participate in a CO 2 allowance auction will be required to open and maintain a compliance or general account pursuant to the provisions in 6 NYCRR Part 242-6.2.

(e) Limitations. Participation in any auction may be limited to the level of financial security provided.

(f) The authority shall institute a purchasing and/or bidding limitation in each auction. In no instance shall this limitation be greater than 25 percent of the allowances available in an auction. Any such limitations shall be included in the notice of CO 2 allowance auction.

(g) Any applicant or bidder that has been found to have violated any rule, regulation, or law associated with any commodity market or exchange may be denied eligibility or precluded from participation in CO 2 allowance auctions.

Disclaimer: These regulations may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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