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Mr. Himanshu Mehta <br /> 13 July 2007 <br /> Page 5 <br /> Task 2b consists of the following subtasks : <br /> • provide historic and current offset price trends as needed to SWDD to enable them to <br /> make decision on when to sell; and <br /> • sell offsets when directed by SWDD, pay transaction fees to CCX, deduct <br /> aggregator expenses and fees, and pay SWDD. <br /> It is noted that the work to be performed by Geosyntec under Task 2 relates to carbon trading of <br /> offsets generated from August through December 2007. The offsets from January through July <br /> 2007 will be performed as part of the optional Task 6. This is because CCX requirements, such <br /> as quarterly calibration of flow meter, are apparently not being implemented at the IRCL <br /> facility. Geosyntec will present a memorandum to SWDD surnmarizing the calibration <br /> procedures and frequencies recommended to be followed in order to fully comply with CCX <br /> rules. Current CCX rules only allow annual sales of up to 50,000 metric tons of carbon <br /> equivalent; the rest can remain in the project account and sold in future years as allowed by the <br /> CCX Rules . Upon approval of this proposal by the SWDD, Geosyntec will prepare an <br /> agreement to be executed by Geosyntec and SWDD that gives Geosyntec the rights to trade <br /> these offsets on behalf of SWDD. <br /> Task 3 : Emission Offsets Trading for 2008 Offsets <br /> Task 3 is divided into two subtasks, Tasks 3a and 3b. Task 3a consists of mainly engineering <br /> services and Task 3b consists of trading activities in the CCX . <br /> Task 3a consists of the following activities: <br /> • review SWDD and County data such as fuel records to calculate 2008 annual carbon <br /> emissions from County-owned facilities; <br /> • perform calculations to quantify carbon emission reductions due to the operation of <br /> the GCCS in 2008; <br /> • prepare report to present documentation and calculations of estimated emission offsets <br /> from 2008; <br /> • coordinate with CCX and its approved independent verifier to review data to certify <br /> the estimated emission offsets; and <br /> • pay registration fees and register emission offsets at CCX (ten percent need to be <br /> retired after registration per current CCX rules); <br /> IRC CCX Proposal.do <br /> engineers I scientists I innovators <br />