ÿWPC¡ QxC!Í^Ìã‡Ò~èN‚9‹ï}$Î\€Z{ƒa‰óÞ² îÔãl8˜K ?Æ¢SúŒ{û ’ÜïÍÛÓçƒÆ •bYE/^ì—1ªqts¯ð„x¥ëFT×)~«,ºCßYùOèÃ*R›ÛPË*HfV%Ãò7&0ïp/ ŽˆUïxøÂ!7c_­ÚðA¬†ß Ô4$ÕRR¼†}Væjè«ìá,áÈOcùm怜¦žØ`tÿ¢xÆ7¼Nðž…¹ó2m˜ª|Àå1 "¨øžN*`ݭ߉º²ëì–…š®ŠTMM'=dAȈN°§û·Sì±âàÞ7ù¤¥ž”>3uîC0´}þ¥ÍœVíèŽ ‰Èm4W2Ð;Mµô?õ_MËóõlŸ7o, \ÅðµŒ0Tø:ÜŒwàk6ò-èÕ’FTGÇ'ä‘f>ÝùSGk:‹³,´§÷  ÿûMõgäš BØ+ £]à,zi|{ªæÍ-|…&U?•Ú‰r8c:úxßÏ  ñ&ií´iÔô u(à"TÛ™5¢Kú¡ÏpeÕJÝm·¨ý‡©GxîgÞ|_(ÚÞ85 ‘™¾ž`‚—ø#! UN+ %y 0(^ §w@³4ó mU>/Gm 0D´øNJGLb“˜\\UTSTATE\air-hp5siÆÜÜÎÎÜÆÜ0(ÖÃ9 Z‹6Times New Roman RegularX($¡¡B¡¨*Æ øùEúûDüýþEÿEeE“h*X Çœ€WpWP3|xÿU‹ÿÀÀÀô\  `&Times New Roman =Ý ƒ ¯'ÝÝ  ÝÔ_ÔDRAFT:€May€4,€2001(3¯$§§Ý ƒ!ÝÝ  Ý  @Ý ƒ ¯'ÝÝ  ÝÔ_ÔDRAFT:€April€19,€2001 =Ý ƒ ¯'ÝÝ  ÝÔ_ÔDRAFT:€May€4,€2001Page ùÝ ƒ!ÝÝ  ÝÔ_ÔññÑ€ÑÑ8€ÄfXXdìXXdì8Ñññò òÓ  ÓÔ‡ Åý!XXÔñüññþññýñÖ€ ÿÿÖñýññþññýñÖ€ÿÿÖñýññüññüñÖ€ÿÿÖñüñUse€of€Banked€Allowances€in€2018Ô#†XÄfX! Åý‹#Ôó óÐ ° ÐÓÓÌThe€Annex€contains€provisions€that€would€allow€sources€to€bank€unused€allowances€and€then€useÏthem€in€a€later€compliance€period.€€Flow€control€measures€would€be€put€into€place€to€createÏdisincentives€for€using€a€large€number€of€banked€emissions€in€any€one€compliance€period.€€TheÏbanking€provisions€would€only€be€in€effect€if€the€backstop€trading€program€was€in€place.€€BankedÏallowances€could€not€be€used€in€the€period€prior€to€the€program€trigger.ÌÌWhen€the€Market€Trading€Forum€discussed€the€issue€of€banking,€there€was€the€recognition€thatÏthe€use€of€banked€allowances€may€allow€emissions€in€the€region€to€exceed€the€regional€cap€in€aÏgiven€year.€€The€MTF€felt€that€this€would€not€be€inconsistent€with€the€overall€goals€of€theÏprogram.€€The€following€rationale€was€included€in€the€preamble€of€the€Annex:ÌÌÔ‡ XëxXXXÄfÔà8  àð ðThe€visibility€goal€established€by€Congress€focuses€on€long„term€results€andÐ üL  Ðprogress€towards€improving€visibility€rather€than€establishing€a€specific€standardÏthat€must€be€met€every€year.€€The€WRAP€believes€that€use€of€banked€emissions€inÏfuture€control€periods€is€consistent€with€the€overall€goal.€€Banking€will€encourageÏearly€reductions,€and€the€downward€trend€of€the€milestones€will€ensure€thatÏprogress€is€achieved€over€the€long€term.€€In€addition,€banking€will€increase€theÏflexibility€for€sources€in€the€region€allowing€the€visibility€goal€to€be€met€in€theÏmost€cost„effective€manner.ðð€€(Page€43)Ð Ð Ð  ÐÔ#†XÄfXX Xëx°#ÔÌWhile€the€MTF€recommends€allowing€banking€under€most€circumstances,€ñÿñòòñÿñspecial€provisions€areÏneeded€for€the€year€2018€to€ensure€that€the€goals€of€the€program€are€met.€€The€year€2018€isÏimportant€because€this€milestone€year€was€used€to€demonstrate€that€the€regional€milestonesÏprovided€greater€reasonable€progress€than€BART.€€In€addition,€since€the€regional€emissionÏreductions€were€weighted€towards€the€end€of€the€planning€period,€the€2018€milestone€is€critical€toÏachieve€the€long„range€goals€of€the€program.ñøñ€€The€following€special€provisions€shoulñøññùññøñ€ñøññùññúñd€apply€inÏthe€year€2018:ñúññùññøñdañøññùñÌÌ1.€€Actual€emissions€in€the€year€2018€must€be€less€than€or€equal€to€the€milestone.€€IndividualÏsources€may€not€use€banked€allowances€from€earlier€years€to€demonstrate€compliance€in€2018Ïunless€procedures€are€in€place€to€ensure€that€actual€emissions€do€not€exceed€the€milestones.€ÏThere€are€some€circumstances€where€it€may€be€possible€to€still€allow€the€use€of€bankedÏallowances€and€still€meet€the€2018€regional€emission€goals.€€For€example,€if€new€source€growthÏwas€5,000€tons€less€than€been€anticipated€in€2018,€then€procedures€could€be€developed€to€allowÏsources€to€use€up€to€5,000€tons€of€banked€allowances€from€earlier€years€to€show€compliance€inÏ2018.€€The€specific€procedures€would€be€included€in€the€SIPs€and€TIPs€in€2003€(or€later€revisionsÏto€the€plans).ÌÌ2.€€Allowances€issued€for€the€year€2018€may€still€be€traded€freely,€and€would€not€be€affected€byÏthese€special€provisions.€€So,€for€example,€if€a€source€is€issued€100€allowances€for€the€year€2018,Ïbut€is€able€to€reduce€emissions€to€50€tons/yr,€that€source€could€sell€50€allowances€to€anotherÐ ¨+ø&* Ðsource€that€could€then€use€those€50€allowances€to€cover€emissions€from€their€plant.€€ÌÌ3.€€The€WRAP€anticipates€that€states€and€tribes€will€need€to€evaluate€the€effectiveness€of€theÏbackstop€market€trading€program€and€make€decisions€about€whether€to€continue€with€thisÏstrategy€well€before€the€2018€SIP€revision€is€due.€€If€the€states€and€tribes€decide€to€continue€withÏthis€strategyñûñ,ñûñ€and€new€milestones€are€established€for€the€years€2019€„€2028,€then€the€need€forÏrestrictions€on€the€use€of€banked€allowances€in€2018€should€be€re„evaluated.€€Under€theseÏcircumstances,€it€may€be€appropriate€to€allow€the€full€use€of€banked€allowances€in€the€year€2018Ïto€provide€additional€incentives€for€sources€to€achieve€early€reductions.ññÌÌñññÿñóóñÿñññò òsources€should€not€be€allowed€to€use€banked€emissions€to€show€compliance€in€the€year€2018.€Ð  ` ÐActual€emissions€must€be€equal€to€or€below€the€milestone€for€2018€in€order€to€demonstrate€thatÏthe€trading€program€meets€the€requirements€for€regional€haze€BART.€€This€issue€is€especiallyÏcritical€because€the€regional€emission€reductions€are€weighted€towards€the€last€5€years€of€theÏplanning€period.ó óññ