[Code of Federal Regulations]
[Title 40, Volume 14]
[Revised as of July 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 40CFR73.71]

[Page 164]
 
                   TITLE 40--PROTECTION OF ENVIRONMENT
 
         CHAPTER I--ENVIRONMENTAL PROTECTION AGENCY (CONTINUED)
 
PART 73--SULFUR DIOXIDE ALLOWANCE SYSTEM--Table of Contents
 
   Subpart E--Auctions, Direct Sales, and Independent Power Producers 
                            Written Guarantee
 
Sec. 73.71  Bidding.

    (a) Who may participate in the auctions. Any person may participate 
in the auctions by submitting a bid or bids pursuant to this section.
    (b) Bidding. Sealed bids shall be sent to the Administrator using 
the Bid Form for SO2 Allowance Auctions, or some method of 
electronic transfer if the Administrator, following public notice, so 
requires or permits at some future time. The bid form shall state:
    (1) The number of allowances sought and the price;
    (2) Whether spot or advance allowances are sought;
    (3) Allowance Tracking System account number;
    (4) Whether the bidder is willing to purchase fewer allowances than 
the number of allowances stated in (b)(1) of this section if the full 
amount is not available. Where the bidder holds no Allowance Tracking 
System account, a New Account/New Authorized Account Representative Form 
must accompany the bid. New account information shall include at a 
minimum: Name, address, telephone number, facsimile number, organization 
or company name (if applicable), type of organization, and the 
authorized account representative for purposes of the account.
    (c) Payment. Each bid must include a certified check or letter of 
credit for the total bid price, or may specify a method of electronic 
transfer or other method of payment, if the Administrator, following 
public notice, so requires or permits at some future time. The certified 
check should be made payable to the U.S. EPA. To meet the requirements 
of this paragraph bidders must submit a completed SO2 
Allowance Auction Letter of Credit Form. If such Form is used, the 
Administrator must receive full payment for allowances awarded at the 
auctions, either by wire transfer or certified check, no later than 2 
business days after the results of the auction are announced in the 
Allowance Tracking System.
    (d) Bid amount and number of bids. Bidders may request any number of 
allowances up to the amount of allowances available for auction. Any 
person may submit more than one bid in each auction, provided that each 
bid meets the requirements of this section.
    (e) Submission of bids. The Administrator will publish in the 
Federal Register and in the Commerce Business Daily the address of where 
to submit bids and payment not later than 60 calendar days before each 
auction.
    (f) Deadline for bids. All bids must be revised by the Administrator 
no later than 3 business days prior to the date of the auctions.