Platts proposes to update the reference CI for Canadian ethanol assessments

Platts, part of S&P Global Commodity Insights, proposes to update the reference carbon intensity (CI) for Canadian ethanol price assessments, effective Sept. 15, 2025.

On July 15, Environmental and Climate Change Canada (ECCC) finalized its Clean Fuel Regulations quarterly credit market report for 2024. In the report, the ECCC provides the weighted average CI of imported and produced low-carbon fuels by quarter -- including ethanol. The weighted averages for imported and produced ethanol are as follows:

Platts proposes to update the reference CI for its Canadian ethanol assessments from 51.60 gCO2e/MJ to 39.50 gCO2e/MJ, reflecting the Q4 2024 weighted average CI of imported and produced ethanol in Canada.

The reference CI represents the CI level of Platts Canadian ethanol assessments. Market participants can calculate the value of ethanol with a different CI by using the Platts CFR CI cost per gallon and Platts CFR Carbon Credit CC2 assessments.

This change would impact the following assessments and associated averages and conversions.

Platts would continue to update the reference CI for its Canadian ethanol price assessments as new data on prevailing values becomes available.

To keep track of proposed and implemented changes, please reference the Platts Biofuelscan, Fuel Ethanol Report, alert page PBF1500 and Platts Connect.

Please submit any feedback, comments or questions about this proposal to mrts_biofuelsandfeedstocks@spglobal.com and pricegroup@spglobal.com by Sept. 8, 2025.

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.