Ethanol Blog

RIN Values Jump on News EPA Won't Cut 2018 RVOs

George Orwel
By  George Orwel , DTN Energy Reporter
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The value of tradeable Renewable Identification Numbers rallied on Friday after Scott Pruitt, administrator of the Environmental Protection Agency, said he won't reduce the 2018 volume requirement under the Renewable Fuels Standard. Pruitt said he would keep RFS intact and would even work with biofuel groups to allow a higher concentration of ethanol to be blended into gasoline supply year-round.

EPA just concluded on Thursday a public comment period in which the agency sought data and reasoning that would justify cutting biofuel volumes under the RFS that obligated parties would need to satisfy by blending or acquiring an offsetting RIN in the open market. EPA was also considering allowing RINs to be attached to exported biofuels, which means allowing biofuel exports to qualify as part of the annual volume requirements.

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Following Pruitt's comments, 2017 D6 conventional renewable RINs traded several times from 83.0cts all the way to 90.0cts and traded last at 89.0cts for a gain of 6.0cts. 2017 D4 biomass-based diesel RINs traded from a 99.0cts to $1.05, trading last at $1.02 for a 2.75cts gain.

George Orwel can be reached at george.orwel@dtn.com.

(CZ)

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