Platts to launch UK Renewable Transport Fuel Certificate (RTFC) assessments

Platts, part of S&P Global Commodity Insights, will launch daily assessments for UK Renewable Transport Fuel Certificates (RTFC) on Jan. 6, 2025.

This follows the launch of the German greenhouse gas quota (THG) assessments in November 2024 and the Netherlands renewable energy unit (HBE) assessments in January 2024, reflecting the growing importance of the relevant ticket markets in determining biofuel prices in Europe.

It comes after a consultation period detailed in the subscriber note found here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/062323-platts-extends-consultation-into-european-renewable-transport-certificate-markets and a proposal published Oct. 21: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/102124-platts-proposes-to-launch-uk-renewable-transport-fuel-certificate-assessments.

Platts will assess two different types of RTFCs:

• Crop RTFC
• Non-crop RTFC

As defined under UK RTFO Order 2007 No. 3072 and the UK Department for Transport:

• Crop RTFC: One RTFC is issued per liter of liquid biofuel derived from crop-based feedstocks with single counting properties
• Non-crop RTFC: Twice the number of RTFCs per liter are issued, generated through biofuels produced from feedstocks with double counting properties, such as wastes, non-agricultural residues, non-food cellulosic material andlignocellulosicmaterial

The assessments will be published daily at 4:30 pm London time market close in pence per RTFC.

Platts will assess:

• Previous-year vintage from the start of January to the last working day of April
• Current-year vintage from the first to the last working day of the calendar year
• Next-year vintage from the start of November to the last working day of the calendar year

Therefore, in 2025, Platts will publish current-year RTFCs from January through December, previous-year RTFCs from Jan. 6 to April 30 and next-yearRTFCs in November and December.

The assessments will reflect first-quarter transfer and payment terms in line with market practice. Pricing information reflecting other terms may be considered and normalized to the specification. The assessments would reflect market activity ranging from 1 million to 10 million RTFCs. Volumes outside of these parameters may be considered and normalized to the basis level.

Please submit any feedback, comments or 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.