[Federal Register Volume 63, Number 23 (Wednesday, February 4, 1998)]
[Proposed Rules]
[Pages 5773-5774]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-2718]
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ENVIRONMENTAL PROTECTION AGENCY
40 CFR Part 73
[FRL-5961-5]
Acid Rain Program; Auction Offerors to Set Minimum Prices in
Increments of $0.01
AGENCY: Environmental Protection Agency (EPA).
ACTION: Proposed rule.
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SUMMARY: Title IV of the Clean Air Act, as amended by the Clean Air Act
Amendments of 1990 (the Act), authorized the Environmental Protection
Agency (EPA) to establish the Acid Rain Program to reduce the adverse
health and ecological effects of acidic deposition. The program
utilizes an innovative system of marketable allowances that are
allocated to electric utilities. Title IV mandates that EPA hold yearly
auctions of allowances for a small portion of the total allowances
allocated each year. Private parties may also offer their allowances
for sale in the EPA auctions and specify a minimum sales price.
Currently, the regulations require that an offeror's minimum sales
price be in whole dollars (see 40 CFR part 73, Subpart E, Sec. 73.70 ).
No such restriction applies to auction bidders and since 1995, EPA has
allowed bidders to submit bids in increments of less than a dollar. The
restriction on minimum offer prices was originally intended to
facilitate administrative ease, but allowing minimum sales prices in
increments of $0.01 would not change the design, operation, or
administrative burden of the auctions in any way. In addition, it would
be consistent with the flexibility afforded auction bidders. Thus, EPA
is proposing to amend the current regulations to allow offerors to
submit their minimum offer price in increments of $0.01.
Because this rule revision was discussed in an Advance Notice of
[[Page 5774]]
Proposed Rulemaking (see the June 6, 1996 Federal Register, 61 FR
28995-28998) and EPA received no adverse comments, this revision is
also being issued as a direct final rule in the Final Rules section of
this Federal Register.
DATES: Comments on the regulations proposed by this action must be
received on or before March 6, 1998.
ADDRESSES: Comments. All written comments must be identified with the
appropriate docket number (Docket No. A-96-19) and must be submitted in
duplicate to U.S. Environmental Protection Agency, EPA Air Docket
Section (6102), Waterside Mall, Room M1500, 1st Floor, 401 M St. SW,
Washington, DC 20460.
Docket. Docket No. A-96-19, containing information considered
during development of the promulgated standards and requirements in
this proposal, is available for public inspection and copying between
8:30 a.m. and 3:30 p.m., Monday through Friday, at EPA's Air Docket
Section at the above address. A reasonable fee may be charged for
copying.
FOR FURTHER INFORMATION CONTACT: Kenon Smith, U.S. Environmental
Protection Agency, Acid Rain Division (6204J), 401 M Street SW,
Washington, DC 20460, (202) 564-9164.
SUPPLEMENTARY INFORMATION: If no significant, adverse comments are
received by the close of the comment period, no further activity is
contemplated in relation to this proposed rule and the direct final
rule in the Final Rules section of this Federal Register will
automatically go into effect on the date specified in that rule. If
significant, adverse comments are received, they will be addressed in a
subsequent final rule. Because the Agency will not institute a second
comment period on this proposed rule, any parties interested in
commenting should do so during this comment period.
For further supplemental information, and the rule revision, see
the information provided in the direct final rule in the Final Rules
section of this Federal Register.
List of Subjects in 40 CFR Part 73
Environmental protection, Acid rain, Air pollution control,
Electric Utilities, Reporting and recordkeeping requirements, Sulfur
dioxide.
Dated: January 29, 1998.
Carol M. Browner,
Administrator, U.S. Environmental Protection Agency.
[FR Doc. 98-2718 Filed 2-3-98; 8:45 am]
BILLING CODE 6560-50-P
