New Hampshire Revised Statutes 125-O:26 – Auction of Budget Allowances
Current as of: 2023 | Check for updates
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Any rules adopted by the department relative to auctions, pursuant to N.H. Rev. Stat. § 125-O:8, I(d), shall provide that they:
I. Shall be conducted based on the schedule and frequency adopted by the department in consultation with other entities participating in the RGGI program;
II. Shall include the sale of allowances for current years and may include the sale of allowances for future years to promote transparency and price stability in a manner to be determined by the department in coordination with the regional organization;
III. Shall include auction design elements that minimize allowance price volatility, guard against bidder collusion, and mitigate the potential for market manipulation;
IV. Shall include provisions to address, and to the extent practicable minimize, the potential for allowance market price volatility during the initial control period of the RGGI program;
V. Shall include provisions to ensure the continued market availability of allowances to entities regulated under a greenhouse gas emissions allowance trading program, taking into account the outcomes of auctions and monitoring of the allowance market, which may include the adoption of a flexible process that allows for ongoing modification of auction design and procedures in response to allowance market conditions and allowance market monitoring data, provided that the process allows for public comment and input; and
VI. May be open to all qualified participants, and all qualified participants may sell or otherwise agree to transfer any or all allowances to any eligible entity.
I. Shall be conducted based on the schedule and frequency adopted by the department in consultation with other entities participating in the RGGI program;
II. Shall include the sale of allowances for current years and may include the sale of allowances for future years to promote transparency and price stability in a manner to be determined by the department in coordination with the regional organization;
III. Shall include auction design elements that minimize allowance price volatility, guard against bidder collusion, and mitigate the potential for market manipulation;
IV. Shall include provisions to address, and to the extent practicable minimize, the potential for allowance market price volatility during the initial control period of the RGGI program;
V. Shall include provisions to ensure the continued market availability of allowances to entities regulated under a greenhouse gas emissions allowance trading program, taking into account the outcomes of auctions and monitoring of the allowance market, which may include the adoption of a flexible process that allows for ongoing modification of auction design and procedures in response to allowance market conditions and allowance market monitoring data, provided that the process allows for public comment and input; and
VI. May be open to all qualified participants, and all qualified participants may sell or otherwise agree to transfer any or all allowances to any eligible entity.