S&P Global Platts clarifies 2020 RVO calculation

S&P Global Platts would like to clarify when it will update its 2020 Renewable Volume Obligation formula.

Platts is aware that the US Environmental Protection Agency on December 19, 2019, announced final biofuel blending mandates for 2020. The publication on December 19 was not final, and Platts will wait to update its formula until the official version is entered into the Federal Register.

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

To align with typical market practices, Platts will calculate these renewable credit values factoring in the daily value of biodiesel, ethanol, advanced biofuel and cellulosic biofuel RIN credits as assessed by Platts for the respective RVO years.

In line with Platts Methodology, and as these renewable fuels are mandated by the EPA and hence subject to change without prior notice, 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.

Please send all questions and comments to americas_ags@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.