SUBSCRIBER NOTE: Platts to update D3 RIN assessment methodology on May 4

Following a review of feedback, Platts will update its D3 cellulosic biofuel Renewable Identification Number assessment methodology to reflect translatable market information including trade activity, bids and offers. In the absence of market activity, Platts may look at the value of the Cellulosic Waiver Credit and D5 Advanced Biofuel RIN value.

Platts currently assesses D3 RINs taking into account the Cellulosic Waiver Credit. Platts' D3 RIN assessments are published in the Platts Biofuelscan report and through the Platts Biofuels Alert real-time service, PBF pages 10 and 201.

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.

This proposed change will impact the US Renewable Volume Obligation calculations published by Platts. RVO is the aggregate cost of the Renewable Identification Number percentages per gallon of transportation fuel as the US Environmental Protection Agency mandated in the Renewable Fuel Standard Program (RFS2).

Platts calculates these values by factoring the value of biodiesel, ethanol, advanced biofuel and cellulosic biofuel RIN credits as assessed by Platts for the respective RVO years.

The RVO calculations are published in the Platts Biofuelscan report and through the Platts Biofuels Alert real-time service, PBF page 302.

Platts proposes to launch this update on May 4, 2016.

Please send all questions and feedback to america_ags@platts.com with cc to pricemethodology@platts.com. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available to the public upon request.