Platts launches 2023 RINs, RVO assessments

Platts, part of S&P Global Commodity Insights, has launched assessments for 2023-vintage D6, D5, D4 and D3 Renewable Identification Numbers (RINs), effective July 1, 2022.

Platts Biofuels methodology guide, found here, states that Platts will launch year-ahead RIN assessments on the first working day of July of the prior year. In the absence of proposed 2023 biofuel blending mandates, Platts will calculate the 2023 Renewable Volume Obligation (RVO) using 2022 percentage mandates. The US Environmental Protection Agency mandates the use of biofuels, and hence the RVO calculation is subject to change. Platts may update its RVO formulas at any time when such changes are set forth by the EPA, Platts will inform the market of the changes in the formulas through subscriber notes.

The RVO is a calculation that combines RINs prices and weights them based on federal biofuel blending mandates.

The 2023 RIN assessments will be published under the following lifetime calendar codes:

RD62023 -- Ethanol RIN Cal 2023

RD42023 -- Biodiesel RIN Cal 2023

RD52023 -- Advanced Biofuel RIN Cal 2023

RD32023 -- Cellulosic Biofuel RIN Cal 2023

The assessments will also be published under the following year-ahead rolling codes:

RINCY03 -- Ethanol RIN Cal Yr03

BDRCY03 -- Biodiesel RIN Cal Yr03

ABRCY03 -- Advanced Biofuel RIN Cal Yr03

CBRCY03 -- Cellulosic Biofuel RIN Cal Yr03

These assessments will appear in the daily Platts Biofuelscan, Weekly Fuel Ethanol Report and the Weekly Biomass-Based Diesel Report. They will also appear on Platts Biofuels Alert pages 10, 201, 210, 301, and 310, with the RVO price published on page 302.

Platts welcomes all feedback and questions to americas_ags@spglobal.com, with a cc to pricegroup@spglobal.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 upon request.