S&P Global Platts has updated the percentage mandates for its calculated values of the US Renewable Volume Obligation for compliance years 2020-22, effective Dec. 8, 2021.
The update follows the Environmental Protection Agency's proposed mandates for 2020-22, published Dec. 7.
The RVO is the aggregate cost of the Renewable Identification Number percentages per gallon of transportation fuel as the EPA mandated in the Renewable Fuel Standard Program (RFS2).
To align with typical market practices, Platts calculates these renewable credit values using the daily value of biomass-based diesel (D4), conventional biofuel (D6), advanced biofuel (D5) and cellulosic biofuel (D3) RIN credits as assessed by Platts for the respective RVO years.
The percentages for the RVOs that Platts currently assesses are as follows:
In line with Platts Methodology and as these renewable fuels are mandated by the EPA and hence subject to change without prior notice, Platts will update its RVO formulas at any time. When such changes are set forth by the EPA, Platts will inform the market of the changes in the formulas through subscriber notes.
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