Section 69.292. Definitions

The following words and terms, when used in § 69.291, this section and § § 69.293 and 69.294, have the following meanings, unless the context clearly indicates otherwise:

Allowance—An authorization, allocated to an affected utility by the Administrator of the United States Environmental Protection Agency or the Administrator’s authorized representative to emit up to 1 ton of sulfur dioxide during a specified calendar year.

Allowance futures—The negotiation of agreements among parties for the sale and purchase of allowances sometime in the future.

Allowance options—A contract that conveys the right but not the obligation, to buy or sell allowances at a certain price for a limited time. Only the seller of the option is obligated to perform.

Allowance pool—An agreement by two or more utilities whereby the allocation of allowances is divided among the pool members.

Banked allowances—Allowances held in reserve for future use.

Below-the-line—Revenues and expenses that are not associated with utility operations and which are not used to establish rates.

Clean Air Act Compliance Plans—With regard to the 1990 Clean Air Act Amendments, this term refers to actions which a utility plans, prepared incompliance with 66 Pa.C.S. § 530 (relating to Clean Air Act implementation plans), to reduce SO₂ emissions.

The provisions of this § 69.292 adopted February 26, 1993, effective February 27, 1993, 23 Pa.B. 972.

Notation

Cross References

This section cited in 52 Pa. Code § 69.291 (relating to general).