HomeMy WebLinkAboutReso 2012-080 - Cap and Trade Program
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RESOLUTION NO. 2012-080
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
REDDING TO AUTHORIZE PARTICIPATION IN THE
CALIFORNIA CAP-AND- TRADE PROGRAM AND TO DESIGNATE
FREELY ALLOCATED CARBON ALLOWANCES
WHEREAS, pursuant to the passage of Assembly Bill 32, California adopted a law to reduce
the state's greenhouse emissions to 1990 levels by 2020; and
WHEREAS, on December 16, 2010, the California Air Resources Board approved California's
cap-and-trade program; and
WHEREAS, the cap-and-trade program requires covered entities to surrender one allowance to
emit one ton of C02e; and
WHEREAS, Redding Electric Utility has been identified as a covered entity under the
California cap-and-trade program; and
WHEREAS, Redding Electric Utility will be required to turn in allowances for emissions from
owned and purchased electric generation; and
WHEREAS, Redding Electric Utility will be given free allowances annually from the California
Air Resources Board; and
WHEREAS, Redding Electric Utility must designate these free allowances into Redding's cap-
and-trade compliance account or sell them at auction; and
WHEREAS, Redding Electric Utility will be required to purchase allowances not provided for
free from auctions or the secondary market for its annual emissions.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Redding
formally approves the following:
1. Authorization for the Electric Utility Director, or designee, to assign freely allocated
allowances.
2. Redding Electric Utility's participation in California cap-and-trade auctions.
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I HEREBY CERTIFY that the foregoing resolution was adopted at a regular meeting of
the City Council on the 4th day of September, 2012, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Attest:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
Bosetti, Jones, Sullivan & Dickerson
None
McArthur
None
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DICK DICKERSON, Mayor
Form Approved:
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