§ 145.408. Bid submittal requirements.
(a) A bidder shall submit a bid, in a form and manner prescribed by the Department, in an amount that does not exceed the amount of financial security provided to the Department.
(b) A bidder, including any affiliate or agent of the bidder, or any combination of bidders with related beneficial interests, shall purchase no more than 25% of the CO2 allowances offered for sale in a CO2 allowance auction. The limitation, which will not be increased by CCR allowances, will be published in the auction notice under § 145.404(b) (relating to auction notice).
(c) A bidder shall not use or employ any manipulative, misleading or deceptive practice in connection with its prequalification application or purchase of CO2 allowances from the Department, including, any practice that contravenes or violates any applicable Federal or participating state law, rules or regulation.
(d) A bid submitted at a CO2 allowance auction is a binding offer for the purchase of CO2 allowances.
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); 25 Pa. Code § 145.406 (relating to auction participant qualification); and 25 Pa. Code § 145.409 (relating to approval of auction results).
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