The Department, in consultation with the Auction Advisory Committee (Committee), shall determine whether to participate in multistate regional CO2 allowance auctions in coordination with other participating states or to conduct Maryland-only auctions. In making its determination, the Department and the Committee shall consider whether: A multistate regional auction process, which includes the Department and other participating states, has been jointly established and is operationally in place; A multistate regional auction process will result in fair market prices for allowances at reasonable transaction costs; and A multistate regional auction process is consistent with the auction processes described in this chapter. The Department shall convene the Committee at least quarterly to review the status of the Consumer Energy Efficiency Account, the CO2 Allowance Contingency Account, the CO2 Allowance Retirement Account, and the Set-aside accounts.