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.
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The energy challenge facing California is real. Every Californian
needs to take immediate action to reduce energy consumption. For
a list of simple ways you can reduce demand and cut your energy
costs, visit the Flex Alert website at www.flexalert.org .
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