Platts proposes calendar-year US RINS assessments

Platts is proposing to launch Renewable Identification Number (RINs) assessments for calendar year 2008 and 2009 on April 1, 2009.

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.

The two calendar year assessments would reflect the price per RIN and typical volume of 1 million RINs per trade. EPA calendar-year RINs expire two years forward on the last day of February. However, Platts would roll its first year assessment to the next prompt year on the first business day of February. For example, Platts would roll its calendar year 2009 RINs assessment to the prompt year and will add calendar year 2010 RINs on the first business day of February 2010.

Platts would publish these assessments in Platts Refiner, US Marketscan, Oilgram Price Report, Platts Dispatch, and on Platts Global Alert page 597.

For questions and comments, please contact Robert Sharp, +1 713 658 3215, robert_sharp@platts.com, Esa Ramasamy, +1 713 658 3292, esa_ramasamy@platts.com, with a cc to pricegroup@platts.com, by March 16.