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limitation equal to the product of the unit's annual fuel consumption,

on a  Btu basis,  at a  65 percent capacity  factor multiplied  by the

lesser of 1.20 lbs/mmBtu  or the unit's allowable 1987  sulfur dioxide

emissions rate, divided by 2,000, unless the owner or operator of such

unit has obtained allowances equal to its actual emissions.

   "(6)(A) Unless  the Administrator  has approved  a designation  of

such  facility under section 410,  the provisions of  this title shall

not  apply  to  a  `qualifying  small  power  production facility'  or

`qualifying  cogeneration facility'  (within  the  meaning of  section

3(17)(C)  or  3(18)(B)  of  the  Federal  Power  Act)  or  to  a  `new

independent  power  production facility'  as  defined  in section  416

except that clause (iii)  of such definition in section  416 shall not

apply for purposes of this paragraph if, as of the date of enactment,

      "(i) an applicable power sales agreement has been executed; or

      "(ii)  the  facility  is  the subject  of  a  State  regulatory

   authority  order  requiring an  electric utility  to enter  into a

   power  sales  agreement  with, purchase  capacity  from,  or  (for

   purposes  of establishing  terms and  conditions  of the  electric

   utility's  purchase of power)  enter into  arbitration concerning,

   the facility;

      "(iii) an electric  utility has  issued a letter  of intent  or

   similar instrument committing to purchase power  from the facility

   at  a  previously  offered  or  lower  price  and  a  power  sales

   agreement is executed within a reasonable period of time; or

      "(iv) the facility  has been selected as a  winning bidder in a

   utility competitive bid solicitation.

   "(h)  Oil  and   Gas-fired  Units   Less  Than   10  Percent   Oil

Consumed.-(1) After January 1, 2000, it shall be unlawful for any oil-

and  gas-fired  utility unit  whose  average  annual fuel  consumption

during the period 1980 through 1989 on a Btu basis exceeded 90 percent

in the form of natural gas to exceed an annual  sulfur dioxide tonnage

limitation equal to the  product of the unit's baseline  multiplied by

the  unit's actual  1985 emissions  rate divided  by 2,000  unless the

owner or operator of such unit holds allowances to emit  not less than

the unit's total annual emissions.

   "(2) In  addition to  allowances allocated  pursuant to  paragraph

(1) and  section 403(a)(1)  as basic  Phase II allowance  allocations,

beginning January 1, 2000, and for each calendar year thereafter until

and including 2009, the Administrator shall allocate annually for each

unit subject to the emissions limitation requirements of paragraph (1)

allowances from the reserve created pursuant to subsection

(a)(2) in  an amount equal to the  unit's baseline multiplied by 0.050

lbs/mmBtu, divided by 2,000.

   "(3) In  addition to  allowances allocated  pursuant to  paragraph

(1)   and  section   403(a)(1),   beginning  January   1,  2010,   the

Administrator shall  allocate annually  for each  unit subject  to the

emissions limitation  requirements of  paragraph (1) allowances  in an

amount  equal to  the unit's baseline  multiplied by  0.050 lbs/mmBtu,

divided by 2,000.

   "(i) Units  in High Growth  States.-(1) In addition to  allowances

allocated  pursuant  to this  section and  section 403(a)(1)  as basic

Phase  II  allowance  allocations,  beginning  January  1,  2000,  the

Administrator  shall  allocate  annually  allowances  for  each  unit,

subject to an emissions limitation requirement under this section, and

located in a State that-

      "(A) has experienced  a growth  in population in  excess of  25

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