W. Va. Code R. § 45-28-11

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 45-28-11 - Emissions Reduction Credit Discounts and Emission Reduction Credit Retirement for Air Quality Benefit

11.1. Unless otherwise provided under this rule, other rules promulgated under the Code or the federal clean air act, emission reduction credits entered into the registry created pursuant to section 14 shall be discounted or retired as follows:

11.1.a. For all criteria air pollutants, volatile organic compounds and nitrogen oxides, ten (10) percent of all creditable emission reductions shall be retired to provide a net air quality benefit from trading. The remaining ninety (90) percent of creditable emission reductions shall be listed on the registry as emission reduction credits, and shall be eligible for trading or use for a period of ten (10) calendar years from the year of emission reduction credit generation. All such emission reduction credits unused at the end of the ten (10) year period shall also be retired to provide a net air quality benefit from trading.

11.1.b. Emission reduction credits generated by source shutdowns which are in compliance with all eligibility requirements of this rule and which were generated after January 1, 1991 and before the effective date of this rule shall be discounted by 50%. The discounted emission reduction credits shall be retired in lieu of the 10% air quality benefit discount provided under subdivision 11.1.a.

11.2. Any person who generates or acquires emission reduction credits may voluntarily retire such emission reduction credits to benefit air quality.

11.3. The director shall retire and remove from the registry, created pursuant to section 14, all excess emission reduction credits donated to the director under subsection 15.3.

11.4. Emission reduction credits generated by emission reductions which are necessary to comply with a proposed applicable requirement, and which occur after the date the applicable requirement is proposed and before final compliance dates specified by or pursuant to the rule creating the applicable requirement, may be used or traded for a period of 5 calendar years after the year of generation or 1 calendar year after the effective date of final compliance, whichever occurs first.

W. Va. Code R. § 45-28-11