N.J. Admin. Code § 7:27C-11.5

Current through Register Vol. 56, No. 21, November 4, 2024

Section 7:27C-11.5 - Auction calendar and notice

(a) A calendar of anticipated auction dates will be available on the CO[2] allowance auction website, ">www.rggi.org/auctions] www.rggi.org. The calendar will indicate the auction format and the number of allowances and allocation years of allowances to be auctioned at each auction. The calendar may periodically be revised, including the anticipated dates of future auctions, provided that the information relevant to the next scheduled CO[2] allowance auction will be fixed NO[x] later than 45 calendar days prior to such auction. The calendar will include the dates of at least the next four CO[2] allowance auctions and may also include the anticipated number of allowances to be auctioned at each future auction.

(b) A notice of each CO[2] allowance auction will be provided on the CO[2] allowance auction website NO[x] later than 45 days prior to the date upon which the auction will be conducted and may be transmitted electronically to parties requesting such notification, provided they have submitted an e-mail address to the

New Jersey RGGI program contact person. The RGGI program contact for each participating state, including New Jersey, is listed on the RGGI website at www.rggi.org

(c) In addition to the information specified at N.J.A.C. 7:27C-9.1(a), the notice of COallowance auction will include, but not be limited to, the following:

1. The date, time, and location of the CO[2] allowance auction, including the Internet address or electronic address for the CO[2] allowance auction location, as applicable;

2. The format for the CO[2] allowance auction;

3. The categories of bidders who will be eligible to bid;

4. The number and allocation years of New Jersey CO[2] allowances to be auctioned;

5. The minimum reserve price;

6. All information regarding the CO[2] cost containment reserve, required to be in the notice pursuant to N.J.A.C. 7:27C-9.1(a);

7. The procedures for conducting the CO[2] allowance auction, including the required bid submission format and process, and information regarding financial settling of CO[2] allowance payments;

8. All CO[2] allowance auction participation requirements;

9. The amount and type of financial security required and instructions for submitting acceptable financial surety;

10. Participation limits, such as bidding limits that may apply to an individual bidder or a group of related bidders;

11. Application instructions for applying to participate in the COallowance auction;

12. Identification of a New Jersey auction contact person for further information; and

13. Other pertinent rules or procedures of the auction as may be required to ensure a transparent, fair, and competitive auction.

N.J. Admin. Code § 7:27C-11.5

Adopted by 51 N.J.R. 992(a), effective 6/17/2019