Section 125-O:20 Definitions.
In this subdivision:
I. ""Affected CO2 source'' means any source with one or more fossil fuel-fired electricity generating units having a nameplate rated capacity equal to or greater than 25 megawatts.
II. ""Budget allowances'' means those RGGI allowances comprising the state annual budget for CO2 emissions specified in RSA 125-O:21, II.
III. ""Commission'' means the public utilities commission.
IV. ""Compliance period'' means a 3 calendar year time period, unless extended one calendar year by a stage-2 trigger event. The first compliance period is from January 1, 2009 to December 31, 2011, unless a stage-2 trigger event extends the first compliance period to December 31, 2012. Each subsequent sequential 3 calendar year period is a separate compliance period subject to a one-year extension if a stage-2 trigger event occurs during the compliance period. The compliance period shall never be longer than 4 calendar years.
V. ""Consumer price index'' or ""CPI'' means the United States Department of Labor, Bureau of Labor Statistics unadjusted consumer price index for all urban consumers for the United States city average, for all items on the latest reference base, or if such index is no longer published, such other index as the department determines is appropriate. The CPI for any calendar year is the 12-month average of the CPI published by the United States Department of Labor, as of the close of the 12-month period ending on August 31 of each calendar year.
VI. ""Department'' means the department of environmental services.
VII. ""Early reduction allowances'' means allowances provided to affected CO2 sources for eligible projects undertaken which have the effect of reducing emissions at the affected CO2 source by an absolute reduction of emissions during calendar years 2006, 2007, and 2008, from a baseline approved by the department, through emission rate improvements or permanently reducing utilization of one or more units at a source.
VIII. ""International trading programs'' means international programs approved by the department such as the European Emission Trading Scheme (ETS) and offset credits established under the Clean Development Mechanism (CDM) to be used to obtain equivalent RGGI offset allowances pursuant to RSA 125-O:22, II(b).
IX. ""Market settling period'' means the first 14 months of any compliance period.
X. ""Offset allowances'' means allowances issued to projects determined to be eligible by the department undertaken outside of the electric power sector to reduce CO2 or CO2 equivalent emissions.
XI. ""PSNH'' means Public Service Company of New Hampshire or any successor to the company's public utility franchise.
XII. ""Regional greenhouse gas initiative'' or ""RGGI'' or ""RGGI program'' means the program to implement the memorandum of understanding (MOU) between signatory states, dated December 20, 2005, as amended on August 8, 2006 and April 20, 2007, and the corresponding model rule to establish a regional CO2 emissions budget and allowance trading program for emissions from fossil fuel-fired electricity generating units.
XIII. ""Regional organization'' means a non-profit organization formed by the signatory states to RGGI to provide technical and administrative assistance for such things as: emissions and allowance tracking, offsets development and implementation, allowance market monitoring, and data collection. The organization shall have no regulatory or enforcement authority.
XIV. ""Retire'' means submitting a RGGI allowance to the department for compliance or other purpose or retaining a RGGI allowance by the department such that the allowance may never be sold or otherwise used again.
XV. ""RGGI allowance'' means a limited authorization to emit one ton of CO2 issued by the department or other RGGI signatory state in accordance with this subdivision or the RGGI program and shall include budget allowances, offset allowances, and early reduction allowances.
XVI. ""Stage-one trigger event'' means a 12-month rolling average CO2 allowance price that is equal to or greater than $7 in 2005 dollars, such figure adjusted annually on January 1 of each calendar year according to the consumer price index, but only when such a rolling average price occurs in any 12-month period beginning after the end of the market settling period.
XVII. ""Stage-2 trigger event'' means a 12-month rolling average CO2 allowance price that is equal or greater than $10 in 2005 dollars, such figure adjusted annually on January 1 of each calendar year according to the consumer price index plus 2 percentage points, but only when such a rolling average price occurs in any 12-month period beginning after the end of the market settling period.
Source. 2008, 182:2, eff. June 11, 2008.