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Adjustments to SOx RECLAIM Trading Credit (RTC) Holdings for Compliance Years 2013 and Beyond

On November 5, 2010, the Governing Board of the South Coast Air Quality Management District (South Coast AQMD) adopted amendments to its Regional Clean Air Incentives Market (RECLAIM) program that will result in cumulative reductions of 5.7 tons per day, or more than 51 percent reduction, of oxides of sulfur (SOx) from all RECLAIM facilities by 2019. The changes are to be implemented in phases: 3 tons per day in 2013, 4 tons per day in each year from 2014 through 2016, 5 tons per day in 2017 and 2018, and 5.7 tons per day in 2019 and beyond.

Pursuant to the amended Rule 2002 (f)(1), the SOx RTC Holdings as of November 5, 2010 for Compliance Year 2013 and thereafter are adjusted by multiplying the amounts of the current RTC holdings by the following adjustment factors for the corresponding compliance years, to obtain tradable/usable and non-tradable/non-usable holdings:

Compliance Year

Tradable/Usable RTC Adjustment Factor

Non-Tradable/Non-Usable RTC Adjustment Factor

2013

0.7312

Not Applicable

 

2014

0.6416

Not Applicable

2015

0.6416

Not Applicable

2016

0.6416

Not Applicable

2017

0.5520

0.0896

2018

0.5520

0.0896

2019

0.4893

0.1523

All Years after 2019

0.4893

Not Applicable

The amended rules specified that the above adjustment factors are to be applied differently to the following three groups of RTC holders:

 

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