[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