Code of Massachusetts Regulations › 225 CMR - DEPARTMENT OF ENERGY RESOURCES › Title 225 CMR 13.00 - Doer Co[2] Budget Trading Program Auction Regulation › Section 13.03 - Definitions

Current through Register 1525, July 5, 2024
225 CMR 13.00 incorporates by reference the definitions
				established in
				310 CMR
				7.70:
Massachusetts
				CO2 Budget Trading Program.
In addition, the
				following definitions shall apply:
Bidder
. A party qualified, pursuant to
				225 CMR
				13.09, to participate in a
				CO2 Allowance Auction.
Clearing Price
. The specified monetary
				value assigned to a CO2 allowance as determined by the
				bids of buyers, given the rules and specific format of the auction.
CQ
2
Allowance Auction Website
. The website containing
				information regarding the auctions to be conducted pursuant to 225 CMR 13.00.
				The website shall be available through a link from DOER's main web page at:
				http://www.mass.gov/doer/.
Cost Containment Reserve (CCR)
. An
				allocation of CO2 allowances, separate from and
				additional to the base annual budget, for the purpose of containing the cost of
				CO2 allowances.
Cost Containment Reserve Trigger
				Price
. The minimum price at which CCR allowances are offered for
				sale in an auction. The CCR trigger price shall be $10.00 per CCR Allowance
				beginning January 1, 2017. For each calendar year thereafter, through 2020, the
				CCR trigger price shall be 1.025 multiplied by the CCR trigger price from the
				previous calendar year, rounded to the nearest whole cent. The CCR trigger
				price in calendar year 2021 shall be $13.00. For each calendar year thereafter,
				through 2030, the CCR trigger price shall be 1.07 multiplied by the CCR trigger
				price from the previous calendar year, rounded to the nearest whole cent.
				225 CMR 13.03: Table
				1 shows the CCR Trigger Price for each calendar year through 2030.
Table 1. CCR Trigger Price
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
$10.51
$10.77
$13.00
$13.91
$14.88
$15.92
$17.03
$18.22
$19.50
$20.87
$22.33
$23.89
Emissions Containment Reserve (ECR)
.
				CO2 allowances that are withheld from sale at an auction
				for the purpose of additional emission reduction in the event of lower than
				anticipated emission reduction costs.
Emissions Containment Reserve Trigger
				Price
. The ECR trigger price is the price below which
				CO2 allowances will be withheld from sale at an auction.
				The ECR trigger price in calendar year 2021 shall be $6.00. For each calendar
				year thereafter, the ECR trigger price shall be 1.07 multiplied by the ECR
				trigger price from the previous calendar year, rounded to the nearest whole
				cent.
				225 CMR 13.03: Table
				2 shows the ECR Trigger Price for each calendar year through 2030.
Table 2. ECR Trigger Price
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
$6.00
$6.42
$6.87
$7.35
$7.86
$8.41
$9.00
$10.30
$11.02
$9.63
Department
. The Department of
				Environmental Protection, established pursuant to M.G.L. c. 21A, §
				7.
DOER
. Department of Energy Resources,
				established pursuant to M.G.L. c. 25A, § 1, or its designated agent,
				pursuant to
				225 CMR
				13.06(1).
DOER Contact Person
. An employee of
				DOER designated to communicate with the public regarding
				CO2 Allowance Auctions as identified in the Guidelines
				to 225 CMR 13.00.
Guidelines
. A set of procedures,
				including forms, as developed by the DOER to assist in compliance with the
				requirements of 225 CMR 13.00. The Guidelines may take the form of the Auction
				Notice, as set forth in
				225 CMR
				13.07.
Participating State
. A state that has
				established a regulation corresponding to 225 CMR 13.00, or is authorized by
				law to participate in the CO2 Budget Trading
				Program.
Reserve Price
. The minimum acceptable
				price for each CO2 allowance in a specific auction. The
				minimum reserve price in calendar year 2014 shall be $2.00. Each calendar year
				thereafter, the minimum reserve price shall be 1.025 multiplied by the minimum
				reserve price from the previous calendar year, rounded to the nearest whole
				cent.
				225 CMR 13.03: Table
				3 shows the Reserve Price for each calendar year through 2030.
Table 3. Reserve Price
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
$2.26
$2.32
$2.38
$2.44
$2.50
$2.56
$2.62
$2.69
$2.76
$2.83
$2.90
$2.97
RGGI
The Regional Greenhouse Gas
				Initiative which is a cooperative effort to reduce carbon dioxide emissions by
				Northeastern and Mid-Atlantic states, as well as other states and jurisdictions
				should such parties elect to participate. RGGI is supported by the Regional
				Greenhouse Gas Initiative, Inc., a not for profit corporation formed to provide
				technical and scientific advisory services to participating states in the
				development and implementation of the CO2 Budget Trading
				Program.
Sealed Bid, Uniform Price Auction
. A
				single or multiple round sealed-bid auction in which bidders may submit
				multiple bids at different prices; the price paid by all awarded bidders will
				be uniform.