Platts launches UK Renewable Transport Fuel Certificate (RTFC) assessments

Platts, part of S&P Global Commodity Insights, has launched daily assessments for UK Renewable Transport Fuel Certificates (RTFC), effective Jan. 6.

These new assessments follow the launch of the German greenhouse gas quota (THG) assessments in Nov. 2024 and the Netherlands renewable energy units (HBE) assessments in Jan. 2024, reflecting the growing importance of the relevant tickets markets in determining biofuels prices in Europe.

Following a consultation period (subscriber note found here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/062323-platts-extends-consultation-into-european-renewable-transport-certificate-markets ), and a proposal published Oct. 21: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/102124-platts-proposes-to-launch-uk-renewable-transport-fuel-certificate-assessments,

Platts assesses prices for two different types of RTFCs:

• Crop RTFC

• Non-crop RTFC

As defined under UK RTFO Order 2007 No. 3072 and the UK Department for Transport,

• Crop RTFC: One RTFC is issued per litre of liquid biofuel derived from crop-based feedstocks with single counting properties

• Non-crop RTFC: Twice the number of RTFCs per liter are issued generated through biofuels produced from feedstocks with double counting properties such as wastes, nonagricultural residues, non-food cellulosic material, and ligno-cellulosic material

Platts has launched six new daily assessments and will assess the current year and previous year to as of Jan, while the next-year prices will begin to be assessed in November 2025.

Platts will assess:

• previous year vintage from the start of January until the last working day of April;

• current year vintage from the first to the last working day of the calendar year

• next year vintage from the start of November to the last working day of the calendar year.

Therefore, in 2025, Platts will publish 2025 RTFCs from January through December, 2024 RTFCs from Jan. 6 until April 30, and 2026 RTFCs in November and December.

The assessments reflect first-quarter transfer and payment terms in line with market practice. Pricing information reflecting other terms may be considered and normalized to the specification. The assessments reflect market activity ranging from 1 million to 10 million RTFCs. Sizes outside of these parameters may be considered and normalized to the basis level.

The assessments are published daily at 1630 London time market close in pence per RTFC, following the London publishing calendar.

The new assessments are published in Platts Biofuelscan, Biomass-Based Diesel Report, Fuel Ethanol Report, Carbon Markets Daily, Platts Connect and PBF1010.

Please submit any feedback, comments, or questions to mrts_biofuelsandfeedstocks@spglobal.com and pricegroup@spglobal.com.

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