SUBSCRIBER NOTE: Platts to update 2017 RVO calculation to reflect final EPA mandate

Effective November 28, S&P Global Platts will update its calculated values of the US Renewable Volume Obligation for 2017 in accordance with the recent release of the final blending mandates under the Renewable Fuel Standard.

RVO is the aggregate cost of the Renewable Identification Number percentages per gallon of transportation fuel as mandated by the US Environmental Protection Agency in the Renewable Fuel Standard Program (RFS2).

To align with typical market practices, Platts will calculate these renewable credit values factoring the value of biodiesel, ethanol, advanced biofuel and cellulosic biofuel RIN credits as assessed by Platts for the respective RVO years. The 2017 RVO percentages will be 1.67% for biodiesel, 8.32% for ethanol, 0.537% for advanced biofuels and 0.173% for cellulosic biofuel.

As these renewable fuels are mandated by the EPA and hence subject to change without prior notice, Platts will 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.

Please send all further questions and comments to americas_ags@spglobal.com and pricegroup@spglobal.com by December 15, 2016.

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.