§ 145.405. Auction participant requirements.
(a) To be classified by the Department as a bidder eligible to participate in a specific CO2 allowance auction, a qualified participant must meet the following:
(1) Be a member of a category of those eligible to participate in the specified CO2 allowance auction as indicated by the notice of CO2 allowance auction issued under § 145.404(b) (relating to auction notice).
(2) Open and maintain a compliance account or general account, established under § 145.351 (relating to CO2 allowance tracking system (COATS) accounts).
(3) Submit financial security, such as a bond, cash, certified funds or an irrevocable stand-by letter of credit, in a manner and form acceptable to the Department, as specified in the notice of CO2 allowance auction issued under § 145.404(b).
(b) The Department will announce the categories of parties that are eligible to participate in a specific CO2 allowance auction as part of the notice of the CO2 allowance auction, provided that an owner or operator of a CO2 budget unit located in this Commonwealth is always eligible to participate in a CO2 allowance auction.
(c) For a CO2 allowance auction, the following categories of parties may be eligible to participate:
(1) The owner or operator of a CO2 budget unit located in this Commonwealth.
(2) The owner or operator of a CO2 budget unit located in a participating state.
(3) A broker.
(4) An environmental organization.
(5) A financial or investment institution.
(6) Any other market participant, as may be specified in the notice of the CO2 allowance auction.
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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