Platts launches 2024 RIN, RVO assessments

Platts, part of S&P Global Commodity Insights, has launched assessments for 2024-vintage D6, D5, D4 and D3 Renewable Identification Numbers (RINs), effective July 5.

Platts Biofuels methodology guide says Platts will launch year-ahead RIN assessments on the first publishing day of July of the previous year.

Platts will calculate the 2024 Renewable Volume Obligation (RVO) using the percentage mandates for its calculated values of the US Renewable Volume Obligation for compliance year 2024, effective July 5, 2023.

The RVO is the aggregate cost of the Renewable Identification Number percentages per gallon of transportation fuel as the EPA mandated in the Renewable Fuel Standard Program (RFS2).

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 percentages for the 2024 RVO that Platts will assesses are as follows:

2024

D68,71%

D50,34%

D42,82%

D30,63%

The 2024 RIN assessments will be published under the following lifetime calendar codes:

RD62024 -- Ethanol RIN Cal 2024

RD42024 -- Biodiesel RIN Cal 2024

RD52024 -- Advanced Biofuel RIN Cal 2024

RD32024 -- Cellulosic Biofuel RIN Cal 2024

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

The 2024 Renewable Volume Obligations calculation will also be published under the code RVOY024.

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 mrts_biofuelsandfeedstocks@spglobal.com and 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.