Rhode Island Code of Regulations › Title 250 - Department of Environmental Management › Chapter 120 - Air Resources › Subchapter 05 - Air Pollution Control › Part 46 - CO[2] Budget Trading Program › Section 250-RICR-120-05-46.7 - General Requirements

Current through June 14, 2024
A. Carbon dioxide
				  requirements
1. The owners and operators of
				  each CO2 budget source and each CO2
				  budget unit at the source shall hold CO2
				  allowances available for compliance deductions, under §46.12.5 of this
				  Part, as of the CO2 allowance transfer deadline, as
				  defined in §
											46.5(A)(22)
				  of this Part, in the source's compliance account in an amount not less than the
				  total CO2 emissions for the control period from all
				  CO2 budget units at the source, less the
				  CO2 allowances deducted to meet the requirements, with
				  respect to the previous interim control periods, as determined in accordance
				  with §§
											46.12 through
				  46.14 of this
				  Part.
2. The owners and operators
				  of each CO2 budget source and each CO2
				  budget unit at the source shall hold CO2
				  allowances available for compliance deductions, under §46.12.5 of this
				  Part, as of the CO2 allowance transfer deadline, as
				  defined in §
											46.5(A)(22)
				  of this Part, in the source's compliance account, in an amount not less than
				  the total CO2 emissions, for the interim control period
				  from all CO2 budget units at the source multiplied by
				  0.50, as determined in accordance with §§
											46.12 through
				  46.14 of this
				  Part.
3. Each ton of
				  CO2 emitted in excess of the CO2
				  budget emissions limitation for a control period shall constitute a separate
				  violation of this regulation and applicable State law.
4. Each ton of excess interim emissions shall
				  constitute a separate violation of this regulation and applicable State
				  law.
5. A
				  CO2 budget unit shall be subject to the requirements
				  under §
											46.7(A)(1)
				  of this Part starting January 1, 2009, or the date on which the unit commences
				  operation, whichever is later.
6.
				  CO2 allowances shall be held in, deducted from, or
				  transferred among CO2 Allowance Tracking System accounts
				  in accordance with §§
											46.8,
				  46.11, and
				  46.12 of this
				  Part.
7. A
				  CO2 allowance shall not be deducted, in order to comply
				  with the requirements under §
											46.7(A) of
				  this Part, for a control period or interim control period that ends prior to
				  the year for which the CO2 allowance was allocated. A
				  CO2 offset allowance shall not be deducted, in order to
				  comply with the requirements under §
											46.7(A) of
				  this Part, beyond the applicable percent limitations set out in
				  §46.12.5(A)(1)(c) of this Part.
8. A CO2 allowance
				  under the CO2 Budget Trading Program is a limited
				  authorization by the Department or a participating state to emit one ton of
				  CO2 in accordance with the CO2
				  Budget Trading Program. No provision of the CO2 Budget
				  Trading Program, the CO2 budget permit application, the
				  CO2 budget permit or any provision of law shall be
				  construed to limit the authority of the Department or a participating state to
				  terminate or limit such authorization.
9. A CO2 allowance
				  under the CO2 Budget Trading Program does not constitute
				  a property right.