Commencement and Timing of CO Allowance Auctions

(1) Upon notification from the Department that it has transferred CO allowances into the Massachusetts Auction Account as established by the Department under 310 CMR 7.70(5)(c)1.c.: Massachusetts Auction Account, DOER shall conduct a series of auctions to sell such CO allowances (CO Allowance Auctions or Auctions) pursuant to 225 CMR 13.00. (2) Auctions shall be conducted quarterly, but DOER in consultation with the Department, may adjust the frequency of such auctions as it deems necessary to effectuate the objectives of the CO Budget Trading Program, provided at least one auction is conducted annually.