§ 145.402. Auction format.
(a) The format of a CO2 allowance auction will be one or more of the following:
(1) Uniform-price sealed-bid.
(2) Discriminatory price sealed-bid.
(3) Ascending price, multiple-round.
(4) Descending price, multiple-round.
(b) CO2 allowances will be auctioned in lots of 1,000 CO2 allowances, unless the volume of CO2 allowances auctioned requires an individual lot size smaller than 1,000.
(c) The Department will establish a reserve price for each CO2 allowance auction, which will be either the minimum reserve price or the CCR trigger price, as specified under § 145.382 (relating to general requirements), Table 1 (relating to CO2 CCR trigger price) and § § 145.381 (relating to purpose) and 145.382.
Cross References This section cited in 25 Pa. Code § 145.302 (relating to definitions); 25 Pa. Code § 145.401 (relating to auction of CO2 allowances); and 25 Pa. Code § 145.409 (relating to approval of auction results).
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