1. (1) The clean fuels program adopted by the Environmental Quality Commission by rule under ORS 468A.266 must be designed such that:

   1. (a) Regulated parties generate deficits and may reconcile the deficits, and thus comply with the low carbon fuel standards for a compliance period, by obtaining and retiring credits;
   2. (b) Regulated parties and credit generators may generate credits for fuels used as substitutes or alternatives for gasoline or diesel;
   3. (c) Regulated parties, credit generators and credit aggregators shall have opportunities to trade credits; and
   4. (d) Regulated parties shall be allowed to carry over to the next compliance period a small deficit without penalty.
2. (2) The Department of Environmental Quality shall, throughout a compliance period, regularly monitor the availability of fuels needed for compliance with the low carbon fuel standards.

3. (3)

   1. (a) Under the clean fuels program, the department shall monthly calculate the volume-weighted average price of credits and, no later than the last day of the month immediately following the month for which the calculation is completed, post the formula and the nonaggregated data the department used for the calculation and the results of the calculation on the department’s website.
   2. (b) In completing the calculation required by this subsection, the department may exclude from the data set credit transfers without a price or other credit transfers made for a price that falls two standard deviations outside of the mean credit price for the month. The data posted on the department’s website under this section may not include any individually identifiable information or information that would otherwise constitute a trade secret under ORS 192.345.

4. (4)

   1. (a) In addition to the calculation required under subsection (3) of this section, the department shall annually calculate for the preceding calendar year:

      1. (A) The average cost or cost-savings of the low carbon fuel standards per gallon of gasoline and per gallon of diesel; and
      2. (B) The total greenhouse gas emissions reductions attributable to the low carbon fuel standards.
   2. (b) No later than April 15 of each year, the department shall post the formula the department used for the calculations required by this subsection and the results of the calculations on the department’s website.
   3. (c) The State Department of Agriculture shall furnish the formula and results of the calculations required by this subsection to each gas station in this state to facilitate compliance by gas station owners or operators with ORS 646.932.

[2017 c.750 §162]