Platts extends proposal period for BECCS price assessment, seeks further feedback on vintage, volume, reference basis

Platts has extended the feedback period for its proposal to launch new price assessments for carbon credits generated by BECCS projects to March 1, 2024.

On Jan. 8, 2024, Platts proposed to launch two daily price assessments for carbon credits generated from bioenergy carbon capture and storage, or BECCS, projects -- one for current year delivery and one for Yr01 delivery -- on March 11, 2024. Platts has updated the launch date for the BECCS price assessment to April 2, 2024.

Feedback was sought via a subscriber note available here(opens in a new tab).

Platts now seeks further feedback on the proposed specifications for the assessment, in particular:

• Relevance and specification of vintage: Platts invites feedback on the relevance of vintage in the pricing for BECCS credits and the preferred vintage specification for the assessment given the relative nascency of BECCS projects.
• Geography: As subsidies can vary significantly across regions, Platts seeks feedback on the need to identify a specific geography as the reference basis.
• Biomass specification: Platts seeks feedback on the need to identify a specific type of biomass as the reference basis for BECCS credits.
• Volume range: Platts seeks feedback on the proposed volume range of 5,000 to 50,000 mt/CO2e.

Platts invites further feedback on these, or any other details of the proposed BECCS assessments.

The proposed BECCS assessments would also have the following additional specifications:

• Delivery: Current year delivery and delivery one year forward.
• Co-benefits: Standard SDG benefits for this project type; credits with additional SDG benefits may be normalized.

Platts defines BECCS as projects that capture and store carbon produced during the conversion of biomass to energy, including but not limited to ethanol bio-refinery, municipal solid waste, anaerobic digestion and fermentation projects.

BECCS market activity are currently considered as part of the Tech Carbon Capture assessment. Under this proposal, BECCS activity would be considered within their own respective standalone assessments only.

Details of the Platts carbon methodology and assessments are available here(opens in a new tab).

Please send any further feedback to platts_carbon@spglobal.com and pricegroup@spglobal.com by March 1, 2024.

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.