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arbcombo -- November 19, 2014 Joint Auction Additional Information and Forms for California Entities
Posted: 26 Sep 2014 09:51:51
Additional information and forms to support California entities’ participation in an auction have been provided on the ARB Auction webpage. The Auction Notice for the California Cap-and-Trade Program and Québec Cap-and-Trade System Joint Auction of Greenhouse Gas Allowances on November 19, 2014 (Auction Notice) was posted to the ARB Joint Auction webpage on Friday, September 19, 2014. The Auction Notice includes three documents: the Notice, Attachment A, and Attachment B (Auction Notice and Attachments). Please note that there are two ARB auction-related webpages, one specific to joint auctions and ARB’s general auction webpage. As provided in the Auction Notice and Attachments, updates to the auction participation process have been implemented for the November 19, 2014 joint auction due to the auction being conducted jointly with Québec, and to address updates to the California Cap-and-Trade Regulation that became effective July 1, 2014. Additional information and forms to support California entities’ participation in an auction have been provided on the ARB Auction webpage and are described below. Auction Schedule Please refer closely to the Auction Schedule provided in the Auction Notice for dates specific to the November 19, 2014 joint auction as the timeframe for some auction activities is different than that of previous auctions. Consigning entities should note that the date for receipt of proceeds from the sale of any consigned allowances during the November 19, 2014 joint auction is Thursday, December 18, 2014. Auction Attestation Disclosure Form Section 95912(d)(4)(E) of the Cap-and-Trade Regulation requires that each auction application include an attestation disclosing the existence and status of any ongoing investigation or an investigation that has occurred within the last ten years with respect to any alleged violation of any rule, regulation, or law associated with any commodity, securities, environmental, or financial market for the entity participating in the auction, and all other entities with whom the entity has a corporate association, direct corporate association, or indirect corporate association pursuant to section 95833 that participate in a carbon, fuel, or electricity market. Further, the attestation must be updated before each auction to reflect any change in the status of an investigation that has occurred since the most recent auction application attestation was submitted. An auction applicant may use the Auction Application Attestation Disclosure Form available from ARB’s webpage to submit the required attestation disclosure and updates to previously submitted attestations by completing the form and submitting an original to ARB at the address on the back of the form at least 30 days prior to an auction in which it intends to participate. The Auction Attestation Disclosure Form is available on the ARB Auction Information webpage at: http://www.arb.ca.gov/cc/capandtrade/auction/auction.htm. Bid Guarantees – Form and Requirements California entities may now submit any of the following forms or a combination of the following forms of bid guarantee: cash through wire transfer, letter of credit, bank bond, or surety bond. Details for submitting each form of bid guarantee are provided in Attachment A to the Auction Notice. Required terms that must be met for each type of physical bid guarantee instrument are also provided in Attachment A to the Auction Notice. Note that effective for the November 19, 2014 joint auction, all physical bid guarantee instruments must have an expiration date no earlier than 26 days after the auction date. A sample letter of credit is available on the ARB Auction webpage at: http://www.arb.ca.gov/cc/capandtrade/auction/auction.htm. Additional Information Additional information is expected to be posted to the ARB Auction webpage in the future. Interested entities are encouraged to check the ARB webpages frequently for updates. BACKGROUND The November 19, 2014 joint GHG allowance auction will offer year 2014 current vintage allowances and year 2017 future vintage allowances for sale. The November 2014 joint auction is scheduled to take place from 10:00 AM Pacific Time (PT) / 1:00 PM Eastern Time (ET) until 1:00 PM PT / 4:00 PM ET. The Auction Notice and Attachments are posted on the ARB Joint Auction webpage at: http://www.arb.ca.gov/cc/capandtrade/auction/joint_auctions.htm. More information on the California Cap-and-Trade Program is available on the ARB webpage at: http://www.arb.ca.gov/cc/capandtrade/capandtrade.htm. California is in a drought emergency. Visit www.SaveOurH2O.org for water conservation tips. You are receiving this single arbcombo email because you are a subscriber to or have made a public comment to one or more of the following lists: capandtrade, cc, ghg-rep, ghg-ver.