Platts updates proposed launch of German THG-RFNBO ticket assessments, effective Nov. 9.

Platts, part of S&P Global Energy, is revising its proposal to launch daily assessments for German THG-RFNBO tickets, bringing forward the proposed launch date to Nov. 9, 2026, from Jan. 4, 2027.

The revised timeline follows market feedback supporting an earlier launch, ahead of 2027 and reflects growing demand for independent price transparency as Germany's THG-RFNBO market develops.

Platts first proposed the launch of German THG-RFNBO tickets assessments Oct. 5, available here.

The proposed assessments would reflect transferable greenhouse gas reduction quota surplus generated under Germany's Renewable Fuels of Non-Biological Origin sub-quota, introduced under the RED III legislation. Liquidity in Germany's RFNBO market has increased since legislation introducing the sub-quota took effect in June 2026. The proposed assessments would complement Platts' existing suite of German THG assessments, which includes THG-Other, Annex IX-B, Conventional and Advanced Single Counting tickets.

Under Section 2(3) of Germany's 37th Federal Immission Control Ordinance (37. BImSchV), 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 assessments would reflect the transferable THG quota surplus generated by supplying eligible RFNBOs to the German transport sector.

The assessments would reflect a 4:30 pm London market close and would 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 June 1;
• 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.

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 GJ. 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 Oct. 26, 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.