and the rules promulgated to implement this subsection are
complied with. The Administrator shall review the determinations
of each State regulatory authority under this subsection to
encourage consistency from electric utility to electric utility
and from State to State in accordance with the Administrator's
rules. The Administrator shall publish the findings of this
review no less than annually.
"(g) Conservation and Renewable Energy Reserve.-The Administrator
shall establish a Conservation and Renewable Energy Reserve under this
subsection. Beginning on January 1, 1995, the Administrator may
allocate from the Conservation and Renewable Energy Reserve an amount
equal to a total of 300,000 allowances for emissions of sulfur dioxide
pursuant to section 403. In order to provide 300,000 allowances for
such reserve, in each year beginning in calendar year 2000 and until
calendar year 2009, inclusive, the Administrator shall reduce each
unit's basic Phase II allowance allocation on the basis of its pro
rata share of 30,000 allowances. If allowances remain in the reserve
after January 2, 2010, the Administrator shall allocate such
allowances for affected units under section 405 on a pro rata basis.
For purposes of this subsection, for any unit subject to the emissions
limitation requirements of section 405, the term `pro rata basis'
refers to the ratio which the reductions made in such unit's
allowances in order to establish the reserve under this subsection
bears to the total of such reductions for all such units.
"(h) Alternative Allowance Allocation for Units in Certain
Utility Systems With Optional Baseline.-
"(1) Optional baseline for units in certain systems.-In the
case of a unit subject to the emissions limitation requirements
of this section which (as of the date of the enactment of the
Clean Air Act Amendments of 1990)-
"(A) has an emission rate below 1.0 lbs/mmBtu,
"(B) has decreased its sulfur dioxide emissions rate by 60
percent or greater since 1980, and
"(C) is part of a utility system which has a weighted
average sulfur dioxide emissions rate for all fossil
fueled-fired units below 1.0 lbs/mmBtu, at the election of the
owner or operator of such unit, the unit's baseline may be
calculated (i) as provided under section 402(d), or (ii) by
utilizing the unit's average annual fuel consumption at a 60
percent capacity factor. Such election shall be made no later
than March 1, 1991.
"(2) Allowance allocation.-Whenever a unit referred to in
paragraph (1) elects to calculate its baseline as provided in
clause (ii) of paragraph (1), the Administrator shall allocate
allowances for the unit pursuant to section 403(a)(1), this
section, and section 405 (as basic Phase II allowance
allocations) in an amount equal to the baseline selected
multiplied by the lower of the average annual emission rate for
such unit in 1989, or 1.0 lbs./mmBtu. Such allowance allocation
shall be in lieu of any allocation of allowances under this
section and section 405.
"SEC. 405. PHASE II SULFUR DIOXIDE REQUIREMENTS.
"(a) Applicability.-(1) After January 1, 2000, each existing
utility unit as provided below is subject to the limitations or
requirements of this section. Each utility unit subject to an annual
sulfur dioxide tonnage emission limitation under this section is an