New York Codes, Rules and Regulations › Title 6 - DEPARTMENT OF ENVIRONMENTAL CONSERVATION › Chapter III - AIR RESOURCES › Subchapter A - PREVENTION AND CONTROL OF AIR CONTAMINATION AND AIR POLLUTION › Part 242 - CO[2] Budget Trading Program › Subpart 242-5 - CO[2] ALLOWANCE ALLOCATIONS › Section 242-5.2 - CO[2] Budget Trading Program adjusted budget

Current through Register Vol. 46, No. 28, July 10, 2024
(a) For allocation years 2020 through 2025,
					 the New York CO2 Budget Trading Program adjusted budget
					 shall be the maximum number of allowances available for allocation in a given
					 allocation year, except for CO2 offset allowance and
					 CO2 CCR allowances. For allocation year 2026 and each
					 succeeding allocation year, the CO2 Budget Trading
					 Program adjusted budget shall be the same as the CO2
					 Budget Trading Program base budget.
(b)
First control period interim
					 adjustment for banked allowances.
Table 3 includes the department established first control
						period interim adjustment for banked allowances quantity for allocation years
						2014 through 2020:
Table 3 First control period adjustment
								  for banked allowances
2014
2015
2016
2017
2018
2019
2020
3,195,240
3,195,240
3,195,240
3,195,240
3,195,240
3,195,240
3,195,240
(c)
Second control period adjustment
					 for banked allowances.
Table 4 includes the department established second
						control period adjustment for banked allowances quantity for allocation years
						2015 through 2020:
Table 4 Second control period
								  adjustment for banked
2015
2016
2017
2018
2019
2020
5,327,076
5,327,076
5,327,076
5,327,076
5,327,076
5,327,076
(d)
Third adjustment for banked
					 allowances.
On March 15, 2021, the department shall determine the
						third adjustment for banked allowances quantity for allocation years 2021
						through 2025 through the application of the following formula:
TABA = ((TA "" TAE)(5)xRS%
Where:
TABA is the third adjustment for banked allowances
						quantity in tons.
TA, third adjustment, is the total quantity of allowances
						of vintage years prior to 2021 held in general and compliance accounts,
						including compliance accounts established pursuant to the
						CO2 Budget Trading Program, but not including accounts
						opened by participating states, as reflected in the CO2
						allowance tracking system, for which compliance has not yet been demonstrated,
						on March 15, 2021.
TAE, third adjustment emissions, is the total quantity of
						2018, 2019 and 2020 emissions from all CO2 budget
						sources in all participating states, reported pursuant to the
						CO2 Budget Trading Program as reflected in the
						CO2 allowance tracking system on March 15, 2021.
RS% is the CO2 Budget Trading
						Program base budget for 2021 divided by the regional budget for
						2021.
(e)
CO2 Budget Trading Program adjusted budget for
					 2020.
Table 5 includes the department established New York
						CO2 Budget Trading Program adjusted budgets for the 2020
						allocation year.
Table 5 CO2 Budget Trading
								  Adjusted budget
2020
21,913,462
(f)
CO2 Budget
					 Trading Program adjusted budgets for 2021 through 2025.
On or before April 15, 2021 the department shall
						establish the CO2 Budget Trading Program adjusted
						budgets for the 2021 through 2025 allocation years by the following
						formula:
AB = BB - TABA
Where:
AB is the CO2 Budget Trading
						Program adjusted budget.
BB is the CO2 Budget Trading
						Program base budget.
TABA is the third adjustment for banked allowances
						quantity in tons.
(g)
Publication of adjusted budgets.
After making the determination in subdivisions (d) and
						(f) of this section, the department or its agent will publish the
						CO2 Budget Trading Program adjusted budgets for the 2021
						through 2025 allocation years.