News

Website update increases waiver, RIN trade transparency

The U.S. Environmental Protection Agency (EPA) updated its Renewable Fuel Standard (RFS) website Thursday to increase transparency surrounding the program, according to a news release from the agency.

“For the first time, EPA is providing new information to the public on small refinery exemptions and RIN trading,” said EPA Acting Administrator Andrew Wheeler. “Increasing transparency will improve implementation of the RFS and provide stakeholders and the regulated community the certainty and clarity they need to make important business and compliance decisions.”

New information includes the number of small refinery exemption petitions received, approved, and denied. It also lists the weekly average price of Renewable Identification Numbers (RINs) and how many are traded.

“In our corn-growing community, the RFS program is one of the top issues people are talking about,” said U.S. Agriculture Secretary Sonny Perdue. “We hear concerns about lack of transparency around the issuance of small refinery waivers and we are hopeful these changes will put everyone on a level playing field to receive the information at the same time.”

The EPA says it will coordinate small refinery hardship decisions with website updates, so waiver recipients and the broader market receive the information at the same time.

“This is a step in the right direction,” said Bob Dinneen, President and CEO of the Renewable Fuels Association. “Today’s action may prevent small refiners from obtaining market-moving information before other participants in the marketplace. That’s important because it appears the RIN market was gamed earlier this year by a small group of refiners who were privy to sensitive information regarding compliance exemptions before the rest of the market knew what was going on.”

“Farmers stay on top of every bit of news that comes out about the RFS and their industry,” said Secretary Perdue, “so providing them with more information is a priority.”