Emissions Reduction Market System
Annual Performance Review Report - 2007
9 Conclusions
As required by Section 205.760, Illinois EPA has documented the performance of ERMS for the 2007 season and evaluated these data for trends or patterns emerging from the ERMS program. Illinois EPA believes the ERMS program is working as intended and is achieving VOM emission reductions included as part of the State’s ozone SIP for Chicago. Illinois EPA’s conclusions are:
- The ERMS program continued to achieve the desired emission reductions. The allotment shows a 9.5 percent reduction from the original baseline and exceeded the necessary 9 percent reduction for the seventh year in a row. Thus, even if every allotted ATU was used, there would still be a significant reduction from the VOM baseline in the area.
- ERMS participants are performing significantly below the baseline and allotment levels. The ERMS program was created to help reduce VOM emissions from the Chicago NAA and to aid in bringing that area into attainment with the NAAQS for ozone. A review of the emission data for ERMS participating sources shows these sources have, as a whole, reduced VOM emissions by a substantial amount compared to their baselines and allotments. Sources emitted 62.8 percent less VOM than their baselines would have allowed them to emit and 58.8 percent less than their actual ATU allotments for 2007. Every county but one within the NAA saw substantial declines, and all but a few townships did as well.
- The Market System operated in an effective manner. Sources were able to find trading partners, there was sufficient supply of available ATUs, and market prices were conducive to trading. Alternative ATU generation did not play a role in market performance during the 2007 season. Reconciliation and compensation processes performed as designed.
- No relationship is apparent between market activity and HAP levels. The seventh year of HAP reporting by ERMS participants did not indicate trading had any influence on HAP emissions.
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