Page:United States Statutes at Large Volume 104 Part 4.djvu/312

 104 STAT. 2628 PUBLIC LAW 101-549—NOV. 15, 1990 "T AB L E 1—NUMBER OF ALLOWANCES AVAILABLE FOR SALE AT $1,500 PER TON ^^^^^^^ Advance Year of Sale (same year) Sale 1993-1999 25,000 2000 and after 25,000 25,000 Allowances sold in the spot sale in any year are allowances which may only be used in that year (unless banked for use in a later year). Allowances sold in the advance sale in any year are allowances which may only be used in the 7thyear after theyear in which they are first offered for sale (unless banked for use in a later year). "(3) ENTITLEMENT TO WRITTEN GUARANTEE. —Any independent power producer that submits an application to the Administrator establishing that such independent power producer— "(A) proposes to construct a new independent power production facility for which allowances are required under this title; "(B) will apply for financing to construct such facility after January 1, 1990, and before the date of the first auction under this section; "(C) has submitted to each owner or operator of an affected unit listed in table A (in section 404) a written offer to purchase the required allowances for $750 per ton; and "(D) has not received (within 180 days after submitting offers to purchase under subparagraph (C)) an acceptance of the offer to purchase the required allowances, shall, within 30 days after submission of such application, be entitled to receive the Administrator's written guarantee (subject to the eligibility requirements set forth in paragraph (4)) that such required allowances will be made available for purchase from the Direct Sale Subaccount established under this subsection and at a guaranteed price. The guaranteed price at which such allowances shall be made available for purchase shall be $1,500 per ton, adjusted by the percentage, if any, by which the Consumer Price Index (as determined under section 502(b)(3)(B)(v)) for the year in which the allowance is purchased exceeds the Consumer Price Index for the calendar year 1990. "(4) ELIGIBILITY REQUIREMENTS. — The guarantee issued by the Administrator under paragraph (3) shall be subject to a demonstration by the independent power producer, satisfactory to the Administrator, that— "(A) the independent power producer has— "(i) made good faith efforts to purchase the required allowances from the owners or operators of affected units to which allowances will be allocated, including efforts to purchase at annual auctions under this section, and from industrial sources that have elected to become affected units pursuant to section 410; and "(ii) such bids and efforts were unsuccessful in obtaining the required allowances; and "(B) the independent power producer will continue to make good faith efforts to purchase the required allowances from the owners or operators of affected units and from industrial sources. " (5) ISSUANCE OF GUARANTEED ALLOWANCES FROM DIRECT SALE SUBACCOUNT UNDER THIS SECTION.— From the allowances avail-

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