Subscriber note: Platts reminder on methodology for its RINs credit assessments

Platts reminds its users of its methodology for its Renewable Identification Number (RIN) credit assessments. A RIN is a number issued by the US Environmental Protection Agency, for the purpose of tracking renewable fuel usage throughout the supply chain; refiners, importers and blenders, called "obligated parties," use them to show the EPA they have fulfilled their mandated government use of renewable fuels. If the obligated party has not used enough physical product, such as ethanol, it can satisfy the quota by purchasing RINs. Platts assesses Renewable Identification Numbers (RIN) for ethanol, biodiesel, cellulosic biofuel and advanced biofuel for the prompt two calendar years. EPA calendar-year RINs expire two years forward on the last day of February. Platts rolls its first year generic RIN assessment to the next prompt year on two years forward basis on February 15. For example, Platts will roll its calendar year 2011 RINs assessment to calendar year 2012 and will add calendar year 2013 RINs on February 15, 2013. This means that from the period January 1 to February 15 Platts will publish RINs assessments for the prompt three calendar years. Transfer of RIN documentation from seller to buyer 5-10 days forward from the date of publication. The assessments for biodiesel and ethanol (category D6) RINs reflect the price per RIN and typical volume of 1 million RINs per trade. The assessments for biodiesel (Category D4) RINs reflect the price per RIN and typical volume of 250,000 RINs per trade. The assessments for cellulosic biofuel (category D3) RINs reflect the price per RIN and typical volume of 100,000 RINs per trade. The assessments for advanced biofuels (category D5) RINs reflect the price per RIN and typical volume of 100,000 RINs per trade. Please send questions or comments to pl_biofuels@platts.com with a cc to pricegroup@platts.com.