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40 C.F.R. § 97.925

Compliance with Texas SO2 Trading Program assurance provisions.

§ 97.925 Compliance with Texas SO2 Trading Program assurance provisions.

(a) Availability for deduction. Texas SO2 Trading Program allowances are available to be deducted for compliance with the Texas SO2 Trading Program assurance provisions for a control period in a given year by the owners and operators of a group of one or more Texas SO2 Trading Program sources and units only if the Texas SO2 Trading Program allowances:

(1) Were allocated for a control period in a prior year or the control period in the given year or in the immediately following year; and

(2) Are held in the assurance account, established by the Administrator for such owners and operators of such group of Texas SO2 Trading Program sources and units under paragraph (b)(3) of this section, as of the deadline established in paragraph (b)(4) of this section.

(b) Deductions for compliance. The Administrator will deduct Texas SO2 Trading Program allowances available under paragraph (a) of this section for compliance with the Texas SO2 Trading Program assurance provisions for a control period in a given year in accordance with the following procedures:

(1) By August 1, 2022 and August 1 of each year thereafter, the Administrator will:

(i) Calculate the total SO2 emissions from all Texas SO2 Trading Program units at Texas SO2 Trading Program sources during the control period in the year before the year of this calculation deadline and the amount, if any, by which such total SO2 emissions exceed the State assurance level as described in § 97.906(c)(2)(iii); and

(ii) If the results of the calculations required in paragraph (b)(1)(i) of this section indicate that total SO2 emissions exceed the State assurance level for such control period—

(A) Calculate, for such control period and each common designated representative for such control period for a group of one or more Texas SO2 Trading Program sources and units, the common designated representative's share of the total SO2 emissions from all Texas SO2 Trading Program units at Texas SO2 Trading Program sources, the common designated representative's assurance level, and the amount (if any) of Texas SO2 Trading Program allowances that the owners and operators of such group of sources and units must hold in accordance with the calculation formula in § 97.906(c)(2)(i); and

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