Energy Transition, Agriculture, Emissions, Renewables, Biofuels

October 05, 2026

Platts proposes to launch German THG-RFNBO ticket assessments

Platts, part of S&P Global Energy, proposes to launch daily assessments for German THG-RFNBO tickets, effective Jan. 4, 2027.

The proposed assessments would reflect transferrable greenhouse gas reduction quota (THG) surplus generated under Germany's Renewable Fuels of Non-Biological Origin (RFNBO) sub-quota, introduced under the RED III legislation. The proposal follows observed increased liquidity in Germany's RFNBO market since legislation introducing the RFNBO sub-quota took effect in June 2026, as well as growing market interest in independent price assessments. The proposed assessment would complement Platts' existing suite of German THG assessments, which includes THG-Other, Annex IX-B, Conventional and Advanced Single Counting tickets.

Under Germany's 37th Federal Immission Control Ordinance (37. BImSchV), Section 2(3), RFNBOs are defined as electricity-based liquid or gaseous fuels whose energy content is derived from renewable energy of non-biological origin. The proposed THG-RFNBO assessment would reflect transferable THG quota surplus generated through the supply of eligible RFNBOs to the German transport sector.

The assessments would reflect a 4:30 pm London market close and be published in euros per gigajoule, following the Platts UK publishing schedule.

Platts would assess:

  • the previous-year vintage from the first working day of January through the last working day to April 15;
  • the current-year vintage throughout the calendar year; and
  • the next-year vintage from the first working day of November through the last working day of December.

Accordingly, in 2027, Platts would assess:

  • 2026 vintage from Jan. 2 to April 15, 2027
  • 2027 vintage throughout 2027; and
  • 2028 vintage from November through December 2027.

The assessments would reflect transfer and payment in the first quarter of the year, in line with prevailing market practice. Pricing information reflecting other terms may be considered and normalized to the assessment basis. The assessments would reflect a minimum volume of 1,000 units. Smaller volumes may be considered and normalized to the assessment basis.

Please submit any feedback, comments, or questions to platts_biofuels@spglobal.com and pricegroup@spglobal.com by Nov. 25, 2026.

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.