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Comment 88 for Public Input on Cap-and-Trade Auction Proceeds (investmentplan-ws) - 1st Workshop.
First Name: Brian
Last Name: Biering
Email Address: bsb@eslawfirm.com
Affiliation: Ellison, Schneider & Harris LLP
Subject: Comments of Wildflower Energy LP
Comment:
Wildflower Energy, LP ("Wildflower") provides these comments on the investment of cap-and-trade auction proceeds and in response to the May 24, 2012 public consultation meeting. Wildflower encourages CARB to utilize a small portion of the auction proceeds to address pre-AB 32 long-term power sales contracts that do not include provisions allowing the project to recover the new greenhouse gas ("GHG") compliance costs within the contract structure and also have no near-term access to markets in which the GHG compliance costs might be recovered ("Pre-AB 32 Projects"). Wildflower owns Pre-AB 32 Projects, which entered into long-term contracts to stabilize the California electric market in 2001 and 2004. These Pre-AB 32 Projects may suffer a potentially devastating penalty for their commitment to long-term contracts and stable pricing. While the "Pre-AB 32 Contract" issue is recognized by both the CPUC and CARB, the issue remains unresolved. As discussed below, a small set-aside of allowance revenue to address this issue would further the purposes of AB 32 by ensuring equity and minimizing the costs of the program.
Attachment: www.arb.ca.gov/lists/investmentplan-ws/96-120622_wfe_letter_to_arb_re_cap-and-trade_revenue__00075522_.pdf
Original File Name: 120622 WFE Letter to ARB re cap-and-trade revenue (00075522).PDF
Date and Time Comment Was Submitted: 2012-06-22 11:37:31
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