Platts launches Ethanol T2 High GHG savings assessment, min. 90% GHG savings

Platts, part of S&P Global Commodity Insights, has increased the minimum greenhouse gas savings specification for its T2 Ethanol FOB Rotterdam Premium assessment (AASNR00) from 85% to 90%, equivalent to a carbon intensity of 9.4g CO2e/MJ, based on a fossil fuel comparator of 94g CO2e/MJ, effective Oct. 6.

This follows a proposal published on Aug. 19, and a decision note published Sept. 22.

The Ethanol T2 Premium assessment ( AASNR00) has been renamed as Ethanol T2 High GHG Savings premium FOB Rotterdam. The ethanol price is published as both an outright value and as a premium to the Ethanol T2 FOB Rotterdam assessment (AAYDT00), in Eur/cu m. The outright value assessment will be named Ethanol T2 High GHG Savings FOB Rotterdam ( AGSSQ 00).

This assessment reflects FOB Antwerp-Rotterdam-Amsterdam basis, and a basis volume of 1,000 mt, with other volumes considered and normalized back to the basis volume. The assessment reflects a strip laycan of 3-15 days forward (Monday to Tuesday) or 5-15 days forward (Wednesday to Friday).

The Ethanol T2 FOB Rotterdam High GHG Savings Premium (AASNR00) and the Ethanol T2 FOB Rotterdam High GHG Savings ( AGSSQ 00) assessments will be integrated into the eWindow communication tool, effective Oct. 15. Participants will be able to submit bids and offers for publication either directly through the eWindow or via a price reporter, with submissions allowed as a differential to the Platts T2 FOB Rotterdam benchmark assessment (AAYDT00) or as an outright price in Eur/cu m.

Furthermore, the Nabisy Proof of Sustainability ( PoS ) documentation will be a standard requirement for all Ethanol T2 High GHG Savings FOB Rotterdam barge indications in the Platts Market on Close assessment process. The transfer of PoS documentation and the Nabisy-registered PoS between counterparties must occur within 30 days of barge loading or 30 days after title and risk of product have transferred to the buyer.

Nabisy is Germany's web-based application for sustainable biomass, operated by the Federal Office for Agriculture and Food. Platts will also standardize the averaging of GHG savings across PoS certificates, requiring that the weighted average of GHG savings across provided PoS certificates for a parcel traded in the MOC meet a minimum of 90% GHG savings, equivalent to a maximum CI of 9.4 g CO2e/MJ. Individual PoS certificates should not fall below 64.3% GHG savings, equivalent to a maximum CI of 33.52 g CO2e/MJ, unless otherwise mutually agreed.

Additionally, buyers should provide 48 clear working hours for nomination, taking into account the 3/5-15 days forward traded strip. Counterparties are expected to perform on trades published in the MOC in line with standard market practices.

Please send any comments or feedback to mrts_biofuelsandfeedstocks@spglobal.com and pricegroup@spglobal.com . For written comments, please indicate clearly if they 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.