Source: http://www.dec.ny.gov/regulations/120061.html
Timestamp: 2020-08-05 05:07:13
Document Index: 60932339

Matched Legal Cases: ['art 242', 'art 242', 'art 242', 'art 242', 'art 200', 'art 242', 'art 242', 'art 242', 'art 242', 'arts 242', 'art 242', 'art 242', 'art 200', 'art 242', 'art 200', 'art 242', 'art 242', 'art 242', 'art 242', 'art 242', 'art 242', 'art 242', 'art 242', 'art 200', 'art 242', 'art 242', 'art 242', 'art 242', 'art 242']

﻿ Proposed Part 242 CO2 Budget Trading Program - NYS Dept. of Environmental Conservation
Home » Regulations and Enforcement » Proposed, Emergency, and Recently Adopted Regulations » Air Pollution Regulatory Revisions » Proposed Part 242 CO2 Budget Trading Program
The Department is proposing revisions to 6 NYCRR Part 242, "CO2 Budget Trading Program" (Regional Greenhouse Gas Initiative (RGGI)) and 200, "General Provisions." The proposed revisions to Part 242 will reflect the RGGI program changes set forth in the updated RGGI Model Rule. The proposed revisions to Part 200 will update incorporated references.
The proposed Program revisions will cap regional CO2 emissions at approximately 75 million tons annually beginning in 2021. After 2021, the cap will decline by 2.275 million tons annually. The Third Adjustment for Banked Allowances will adjust the budget for 100 percent of the pre-2021 vintage allowances held by market participants as of the end of 2020, that are in excess of the total quantity of 2018, 2019, and 2020 emissions. The proposed third adjustment would be implemented over the five-year period of 2021-2025, after the size of the 2020 vintage private bank is determined.
While the proposed revisions to the Program retain the Cost Containment Reserve (CCR), the revisions would modify the CCR trigger price and the maximum amount of CCR allowances available at auction each year. The proposed Program revisions create an Emissions Containment Reserve (ECR), which will also help secure additional emissions reductions if prices fall below established ECR trigger prices. The ECR will only be triggered, and allowances withheld from auctions, if CO2 emission reduction costs are lower than projected.
The proposed RGGI model rule revisions eliminated two offset categories, the "SF6 Offset Category" and the "End-Use Energy Efficiency Offsets Category". The model rule revisions also updated and retained three offset categories that some states may continue to implement. In the revisions to Part 242, New York is proposing to retain only the offset provisions for avoided methane emissions from agricultural manure management operations.
New York is also proposing to expand applicability under Part 242 to capture certain units that serve an electricity generator with a nameplate capacity equal to or greater than 15 MW. This applicability expansion will apply to any unit 15 MW or greater that resides at an existing CO2 budget source, and to any 15 MW unit that resides at a facility where there are two or more units with a nameplate capacity of 15 MW or larger.
The proposed Program revisions will retain the interim compliance obligation. Finally, the proposed Program revisions also include minor revisions and updates to all references.
More about Proposed Part 242 CO2 Budget Trading Program:
Express Terms Summary Proposed Part 242 - Summary of proposed changes to Parts 242 and 200 Express Terms
Express Terms Proposed Part 242 - Proposed changes to express terms Part 242
Proposed Part 200 General Provisions, as related to Part 242 - Proposed changes to Part 200, as related to Part 242
Regulatory Impact Statement Summary Proposed Part 242 - Summary of the Regulatory Impact Statement
Regulatory Impact Statement Proposed Part 242 - A general overview of the regulation detailing, among other things, the statutory authority, need for and justification of the proposal, expected cost and recordkeeping/reporting impacts, and compliance schedule.
Job Impact Statement Proposed Part 242 - Necessary for all regulations affecting 100 or more jobs and employment opportunities, this document details the number and categories of jobs affected, regions of the state suffering a disproportionate impact, and measures taken to minimize any impact on jobs and employment opportunities.
Rural Area Flexibility Analysis Proposed Part 242 - Defined as counties with populations of fewer than 200,000 people and towns in non-rural counties where population density is less than 150 people per square mile, this must state any impacts or requirements imposed upon rural areas. This must also express opportunities provided for rural citizens, businesses or organizations to participate in the rulemaking.
Regulatory Flexibility Analysis for Small Businesses and Local Governments Summary Proposed Part 242 - Summary of the Regulatory Flexibility Analysis for Small Businesses and Local Governments
Regulatory Flexibility Analysis for Small Businesses and Local Governments Proposed Part 242 - Consideration of, and steps taken by the Department, to minimize any negative impacts on small businesses (independently owned businesses wholly within New York State of 100 employees or fewer) or local governments. This includes an explanation of what opportunities were provided to these entities to participate in the rulemaking process.
Express Terms Proposed Part 242
Proposed Part 200 General Provisions, as related to Part 242
Job Impact Statement Proposed Part 242
Rural Area Flexibility Analysis Proposed Part 242
Regulatory Flexibility Analysis for Small Businesses and Local Governments Summary Proposed Part 242
Regulatory Flexibility Analysis for Small Businesses and Local Governments Proposed Part 242
Proposed 242
Albany, NY 12233-8401