Illinois Administrative Code › Title 35 - ENVIRONMENTAL PROTECTION › Part 217 - NITROGEN OXIDES EMISSIONS › Subpart U - NO[x] CONTROL AND TRADING PROGRAM FOR SPECIFIED NO[x] GENERATING UNITS › Section 217.468 - New Source Set-Asides for "New" Budget Units

Current through Register Vol. 48, No. 28, July 12, 2024
a) For the 2004, 2005 and 2006 control
				periods, a "new" budget unit is one that commenced commercial operation on or
				after January 1, 2000. For the 2007 and later control periods, a "new" budget
				unit is one that commenced commercial operation no more than 3 control periods
				prior to the year the allocation is requested pursuant to this Section. Those
				units that commenced commercial operation on or after January 1, 2000, but
				before May 31, 2004, become "existing" budget units on October 1, 2004. Those
				units that commenced commercial operation on or after May 31, 2004, become
				"existing" budget units the end of the third control period after they
				commenced commercial operation.
b)
				"New" budget units must have an allowance for every ton of
				NOx emitted during the control period as provided in
				Section
				217.456(d)
				of this Subpart.
c) The Agency will
				establish a new source set-aside for each control period from which "new"
				budget units may purchase NOx allowances. Each new
				source set-aside will be allocated allowances equal to 3% of each source's
				initial total Subpart U NOx Trading Budget allocation as
				reflected in Column 5 of Appendix E of this Part, which is 146 allowances, for
				each control period. The allocation for the new source set-aside from each
				source shall be based on 3% of the source's initial allocation, without regard
				to subsequent adjustment to any such source's current allocation, including
				permanent transfer of allowances to another source or revision of the Subpart U
				NOx Trading Budget by USEPA.
d) A "new" budget unit may request to
				purchase from the Agency a number of allowances that is not more than the
				number of allowances for which it is eligible, as determined in Section
				217.464
				of this Subpart, and subject to the provisions of this Section.
e) The account representative of a "new"
				budget unit under subsection (a) of this Section may purchase allowances from
				the new source set-aside by submitting to the Agency a request, in writing or
				in a format specified by the Agency, to be allocated allowances for the current
				control period from the new source set-aside. The allocation request for each
				applicable control period must be submitted after the date on which the Agency
				issues a construction permit to the "new" budget unit and before February 1 of
				the control period for which the allocation is requested.
f) The Agency will notify the account
				representative by March 1 of the applicable year of the number of allowances
				that are eligible for purchase for the "new" budget unit pursuant to the
				requirements of this Section. If the Agency does not receive payment by March
				15 of the applicable year, the account representative will forfeit his/her
				eligibility to purchase the allowances offered. The Agency will make available
				for purchase those forfeited allowances on a pro-rata basis to "new" budget
				units requesting allocations pursuant to this Section, up to the number of
				allowances requested by each account representative. Such additional
				allocations are subject to the purchase requirements of subsection (g) of this
				Section.
g) The price of allowances
				from the new source set-aside shall be:
1) For
				2004 only, the price shall be the average price at which
				NOx allowances were traded in 2003 in the Ozone
				Transport Region; and
2) For all
				years other than 2004, the average price at which NOx
				allowances were traded in the interstate NOx Trading
				Program for the preceding control period.