N.J. Admin. Code § 7:27C-6.8

Current through Register Vol. 56, No. 24, December 18, 2024

Section 7:27C-6.8 - Recording of CO[2] allowance allocations and awards

(a) By January 1 of each calendar year, the Department will record the CO[2] allowances allocated for the consumer benefit account, pursuant to NJ.A.C. 7:27C-5.2(a).

(b) Each year, the Department will record CO[2] allowances allocated pursuant to NJ.A.C. 7:27C-5.5(a) in a fixed-price contract set-aside account and pursuant to N.J.A.C. 7:27C-5.2(c)in a cogeneration set-aside account for the year after the last year for which CO[2] allowances were previously allocated to that allocation set-aside account.

(c) When allocating and recording CO[2] allowances in an account pursuant to (a) and (b) above, the Department will assign each CO[2] allowance a unique identification number, otherwise referred to as a serial number, that will include digits identifying the year for which the CO[2] allowance is allocated.

(d) When awarding CO[2] offset allowances and recording them in an account pursuant to (f) below, the Department will assign each CO[2] allowance a unique identification number, otherwise referred to as a serial number, that will include digits identifying the year for which the CO[2] allowance is allocated and will identify the CO[2] allowance as a CO[2] offset allowance.

(e) The Department will record any CO[2] allowances awarded to a winning bidder in a CO[2] allowance auction pursuant to N.J.A.C. 7:27C-11.13in the compliance account or general account identified by such winning bidder within five business days of such award by the Department.

(f) The Department will record any CO[2] allowances awarded to a project sponsor pursuant to N.J.A.C. 7:27C-10.9(a) or (b) in the project sponsor's general account within five business days of such award by the Department.

N.J. Admin. Code § 7:27C-6.8

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