(a) The Administrator will calculate the annual allowance allocation for a combustion source based on the data, corrected as necessary, under §74.20 through §74.25 as follows:

(1) For combustion sources for which the current promulgated SO2 emissions limit under §74.25 is greater than or equal to the current allowable SO2 emissions rate under §74.24, the number of allowances allocated for each year equals:

(2) For combustion sources for which the current promulgated SO2 emissions limit under §74.25 is less than the current allowable SO2 emissions rate under §74.24.

(i) The number of allowances for each year ending prior to the effective date of the promulgated SO2 emissions limit equals:

(ii) The number of allowances for the year that includes the effective date of the promulgated SO2 emissions limit and for each year thereafter equals:

[60 FR 17115, Apr. 4, 1995, as amended at 63 FR 18841, Apr. 16, 1998]