Sec. 244.6. Energy efficiency and renewable energy technology account

(a) The department will allocate allowances to a CSAPR NO_x annual EERET account from the CSAPR NO_x annual trading budget for each control period. NYSERDA is required to make all the allowances in the EERET account available for sale on the open market no later than 30 days after receipt of the allowances by the EERET account.

(b) Should NYSERDA fail to, or be unable to, receive CSAPR NO_x annual allowances into the EERET account for any control period, the affected allowances will be forfeited to the department.

(c) Should NYSERDA fail to, or be unable to, sell or distribute CSAPR NO_x annual allowances that have been allocated to the EERET account within 12 months of the date the CSAPR NO_x annual allowances are allocated under subdivision (a) of this section, all subject CSAPR NO_x annual allowances remaining in the account will be forfeited to the department.

(d) By July 1st following the forfeiture of the allowances to the department, the department reserves the authority to retire or allocate any unused allowances on the condition that the number of CSAPR NO_x annual allowances that will be transferred to the compliance account covering an existing CSAPR NO_x annual unit will not cause the unit’s total allocation for the control period to exceed its potential to emit. The allocation procedure set forth in section 244.3 of this Part will be used to allocate allowances forfeited to the department to CSAPR NO_x annual units.

(e) The provisions of subdivisions (a) through (d) of this section will apply with respect to any allowances transferred by the administrator to the department for disposition in accordance with 40 CFR 97.412(b)(10)(ii) (see Table 1, section 200.9 of this Title).