ENVIRONMENTAL PROTECTION

AIR QUALITY PERMITTING
AIR QUALITY MANAGEMENT
AIR AND ENVIRONMENTAL QUALITY ENFORCEMENT

Open Market Emissions Trading

Adopted Repeals: N.J.A.C. 7:27-30.20; and 7:27-30 Appendix A
Adopted New Rules: N.J.A.C. 7:27-8.28, 18.11, 30.11, 30.19, 30.20, 30.24, 30.25, 30.27, and 30.29; and 7:27-30 Appendices A, B and C
Adopted Repeals and New Rules: N.J.A.C. 7:27-30.5 and 30.7
Adopted Amendments: N.J.A.C. 7:27-1.32, 8.1, 8.3, 8.4, 8.17, 8.20, 8.25, 16.5, 16.17, 18.5, 19.2, 19.6, 19.13, 19.19, 19.20, 19.21, 19.22, 19.23, 19.24, 19.25, 22.1, 22.3, 22.18, 22.22, 30.1 through 30.4, 30.6, 30.8, 30.9, 30.10, 30.12 through 30.16, 30.18, 30.21, 30.22, 30.23, 30.28, 30.30, and 31.6; and 7:27A-3.10
Proposed: July 6, 1999 at 31 N.J.R. 1671(a).
Adopted: April 17, 2000 by Robert C. Shinn, Jr., Commissioner, Department of Environmental Protection.
Filed: April 20, 2000, as R. 2000 d.204 with substantive and technical changes not requiring additional public notice and comment (see N.J.A.C. 1:30-4.3).
Authority: N.J.S.A. 26:2C, especially 26:2C-8 and 26:2C-9.8.
DEP Docket Number: 12-99-06/698.
Effective Date:  May 15, 2000
Operative Date: June 6, 2000
Expiration Date: Exempt.

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The New Jersey Department of Environmental Protection (Department) is adopting new rules and amendments at N.J.A.C. 7:27-30, its Open Market Emissions Trading (OMET) Program rule, and related amendments to several other rules in order to enhance and extend New Jersey’s OMET program. The new rule and amendments create additional opportunities for the generation of volatile organic compounds (VOCs) and nitrogen oxides (NOx) discrete emission reduction (DER) credits and add new provisions for the generation and banking of greenhouse gas (GHG) credits. They also allow additional uses of VOC and NOx credits (including “permit insurance” uses), increase the portion of VOC and NOx credits that must be retired for the benefit of the environment from 10 percent to 20 percent for the new “permit insurance” uses, allow the conversion of NOx Budget allowances and the Emission Offset Program’s banked credits to be converted to DER credits, reorganize subchapter 30 to make it easier to reference, clarify the required procedures for generating, transferring, verifying, voluntarily retiring and using credits, and provide new procedures for circumstances not addressed in the original OMET rule.

The OMET Program was established by the Department to provide incentives for voluntary reductions of air contaminant emissions. It was also established to provide alternative means for regulated entities to achieve compliance with their air pollution control obligations, when conventional control methods were not available or not cost effective. It was intended that both the economic viability of the State and the achievement of clean air goals would be promoted through the OMET Program. The purpose of these amendments is to expand and enhance the OMET Program, so as to more effectively achieve these goals.

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http://www.state.nj.us/dep/aqm/ometp2ad.htm
June 1, 2000