9VAC5-140-7250: Recordation of CO2 allowance allocations

A. By January 1 of each calendar year, the department or its agent will record in the following accounts:

1. In each CO2 budget source's allowance account, the CO2 allowances allocated to those sources by the department prior to being auctioned; and

2. In each CO2 budget source's compliance account, the allowances purchased at auction by CO2 budget units at the source under 9VAC5-140-7210 A.

B. Each year the department or its agent will record CO2 allowances, as allocated to the unit under Article 5 (9VAC5-140-7190 et seq.) of this part, in the compliance account for the year after the last year for which CO2 allowances were previously allocated to the compliance account. Each year, the department or its agent will also record CO2 allowances, as allocated under Article 5 (9VAC5-140-7190 et seq.) of this part, in an allocation set-aside for the year after the last year for which CO2 allowances were previously allocated to an allocation set-aside.

C. Serial numbers for allocated CO2 allowances shall be managed as follows. When allocating CO2 allowances to and recording them in an account, the department or its agent will assign each CO2 allowance a unique identification number that will include digits identifying the year for which the CO2 allowance is allocated.