Agriculture, Energy Transition, Refined Products, Biofuels, Renewables, Jet Fuel
March 10, 2026
Platts proposes to modify IRA 45Z maximum credit and rounding for its biomass-based diesel and SAF assessments, effective May 4, 2026
Platts, part of S&P Global Energy, proposes to modify the Inflation Reduction Act 45Z Clean Fuel Production Credit (CFPC) maximum credit and rounding for its biomass-based diesel and SAF assessments, considering the latest IRA guidance, effective May 4, 2026.
Currently, Platts is using a maximum credit of 100 cents/gallon. Platts proposes to update the methodology to calculate 45Z CFPC maximum credit using S&P Global Macro Economy data set as an interim proxy until the Internal Revenue Bulletin (IRB) publishes the official inflation adjustment factor.
The calculation would be as follows, rounded to the nearest cent:
Maximum credit = 100 cents/gal x GDP (preceding year)/ GDP (2022)
The Internal Revenue Service (IRS) published its latest 45Z CFPC proposal on Feb. 4, stating that the inflation adjustment factor will be published annually in the IRB. However, until the IRB releases the official inflation factor, Platts proposes to use the S&P Global Gross Domestic Product (GDP) Deflator from the Macro Economy data set as a proxy.
Platts also proposes to modify the credit rounding methodology in accordance with the latest guidance from the IRS.
The IRS proposal includes a new form to calculate credit rounding. In line with the IRS proposal, Platts would update its methodology to align with the latest IRS guidance. Until final guidance is released, the IRS regulations remain subject to change. Accordingly, Platts would adjust the credit calculation methodology as needed when the IRS issues updated guidance.
The impacted assessments would be:
| Assessment | Outright Symbol | Differentials Symbol | Monthly averages Symbol |
| Biodiesel B 100 SME Chicago | AAURR00 | NA | AAURR03 |
| Biodiesel B 100 SME Houston | AAURS00 | NA | AAURS03 |
| RD100 San Francisco | AAUWE00 | AAUWI00 (RD100 SF vs NYMEX ULSD) RAUWI00 (RD100 SF vs CARB ULSD) | AAUWE03, AAUWI03, RAUWI03 |
| RD100 Los Angeles | AAUWC00 | AAUWG00 (RD100 LA vs NYMEX ULSD) RAUWG00 (RD100 LA vs CARB ULSD) | AAUWC03, AAUWG03, RAUWG03 |
| SAF CA | SAFCA00 | SAFCB00 (SAF CA vs Jet LA) | SAFCA03, SAFCB03 |
| SAF IL | SAFCD00 | SAFCE00 (SAF IL vs Jet Chicago) | SAFCD03, SAFCE03 |
| SAF Cost of Production (H-S, Tallow) w/ Credits USWC | ASAFK00 | NA | ASAFK03 |
Platts publishes biomass-based diesel and SAF prices in Energy Core, Biofuelscan, Biomass-Based Diesel Report and fixed pages PBF0010, PBF0011 and PBF0012. SAF prices also appear in the Oilgram Price Report, Global Ethanol Report and fixed pages PGA0158, PRF0158, PGA0450, PRF0450, PGA0480, PRF0480, PGA0483 and PRF0483.
Please send all feedback, comments, or questions to platts_biofuels@spglobal.com and pricegroup@spglobal.com by April 3, 2026.
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