Emissions Reduction Market System
Annual Performance Review Report - 2007
2 Scope of the Annual Performance Review Report
Section 205.760 of the ERMS rule directs the Illinois EPA to prepare an Annual Performance Review Report addressing the effect of ERMS on VOM emissions, reviewing trends and patterns that have emerged in the operation of ERMS and looking at nine specific areas of the program for the previous seasonal allotment period. These areas, all of which are included in later parts of this report are:
- Total aggregate VOM emissions from all ERMS sources.
- A breakdown of the number of ATUs retired for compliance purposes or air quality benefit, number currently banked and the number used by new participating sources.
- Evaluation of trading activities, including those sources who were net buyers, those that were net sellers and those that did not trade.
- The use of the Alternative Compliance Market Account (ACMA), including its balance and all transactions into or out of the account.
- Summary of emission reduction generator (ERG) and inter-sector proposals.
- Distribution of transactions by geographic area or character of source.
- Availability of ATUs for purchase.
- Average market price for ATUs.
- Trends and spatial distributions of hazardous air pollutants (HAPs).
The Annual Performance Review Report must be prepared by June 15 of every year. This report covers the 2007 ERMS season and all transactions pertaining to that season up to March 15, 2008.
Many of the terms and technical information referred to in this document are based on the requirements in the ERMS rule. Readers who are unfamiliar with that rule should review it first for a better overall understanding of the program and the terminology used in this report.
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