MULTIPLE POLLUTANT REDUCTION PROGRAM
Regional Greenhouse Gas Initiative
[RSA 125-O:20 repealed by 2012, 281:11, II, effective as provided by 2012, 281:17.]
In this subdivision:
I. "Affected CO2 source" means any source with one or more fossil fuel-fired electricity generating units having a nameplate rated capacity equal to or greater than 25 megawatts.
II. "Budget allowances" means those RGGI allowances comprising the state annual budget for CO2 emissions specified in RSA 125-O:21, II.
III. "Commission" means the public utilities commission.
IV. "Compliance period" means a 3 calendar year time period. The first compliance period is from January 1, 2009 to December 31, 2011. Each subsequent sequential 3 calendar year period is a separate compliance period.
VI. "Department" means the department of environmental services.
VII. "Early reduction allowances" means allowances provided to affected CO2 sources for eligible projects undertaken which have the effect of reducing emissions at the affected CO2 source by an absolute reduction of emissions during calendar years 2006, 2007, and 2008, from a baseline approved by the department, through emission rate improvements or permanently reducing utilization of one or more units at a source.
VII-a. "FCPBA" means "first compliance period banked allowances" which equals all of the 2009, 2010, and 2011 vintage RGGI allowances that are banked by any person, excluding any state participating in the RGGI program, as of January 1, 2014, multiplied by 8,620,460 and divided by the product of 165,184,246 times 7.
IX. "Market settling period" means the first 14 months of any compliance period.
X. "Offset allowances" means allowances issued to projects determined to be eligible by the department undertaken outside of the electric power sector to reduce CO2 or CO2 equivalent emissions.
XI. "PSNH" means Public Service Company of New Hampshire or any successor to the company's public utility franchise.
XII. "Regional greenhouse gas initiative" or "RGGI" or "RGGI program" means the program to implement the memorandum of understanding (MOU) between signatory states, dated December 20, 2005, as amended, and the corresponding model rule as amended February 7, 2013, and as amended December 19, 2017, to establish a regional CO2 emissions budget and allowance trading program for emissions from fossil fuel-fired electricity generating units.
XIII. "Regional organization" means a non-profit organization formed by the signatory states to RGGI to provide technical and administrative assistance for such things as: emissions and allowance tracking, offsets development and implementation, allowance market monitoring, and data collection. The organization shall have no regulatory or enforcement authority.
XIV. "Retire" means submitting a RGGI allowance to the department for compliance or other purpose or retaining a RGGI allowance by the department such that the allowance may never be sold or otherwise used again.
XV. "RGGI allowance" means a limited authorization to emit one ton of CO2 issued by the department or other state with a program that the department determines is in accordance with this subdivision or the RGGI program, including emissions limitations as documented by the regional organization, and shall include budget allowances, offset allowances, and early reduction allowances.
XV-a. "SCPBA" means "second compliance period banked allowances" which equals all of the 2012 and 2013 vintage RGGI allowances that are banked by any person, excluding any state participating in the RGGI program, as of March 15, 2014, minus the total 2012 __ampersand__ 2013 CO2 emissions from all regional sources subject to RGGI, multiplied by 8,620,460 and divided by the product of 165,184,246 times 6.
XVIII. "Third adjustment for banked allowances" or "TBA" means an adjustment applied to the New Hampshire RGGI program base budget for allocation years 2021 through 2025 to address allowances held in general and compliance accounts, including compliance accounts established pursuant to the RGGI program but not including accounts opened by participating states, that are in addition to the aggregate quantity of emissions from all affected CO2 sources in all of the participating states at the end of the fourth control period in 2020 and as reflected in the CO2 Allowance Tracking System on March, 15, 2021.
Source. 2008, 182:2. 2013, 236:2-5, 15, eff. Jan. 1, 2014. 2019, 184:2-4, eff. Sept. 8, 2019.