EPA announces 2014/2015 Cellulosic Waiver credit prices, new direct final rule

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Courtesy of Bergeson & Campbell, P.C.

On March 25, 2015, EPA announced the direct final rule, Regulation of Fuels and Fuel Additives: Cellulosic Waiver Credit Price and Minor Amendments to Renewable Fuel Standard Regulations, that would result in cellulosic waiver credit prices being posted on the EPA website rather than as a result of the rulemaking process. This would allow the credit prices to be announced as soon as the needed data for the wholesale price of gasoline is available, which would provide more certainty to the market. The credit prices are supposed to be updated annually according to the Clean Air Act (CAA) but delays in RFS have also delayed updating the credit prices. EPA announced that the price of the waivers will be $0.49 per credit for the 2014 compliance period and $0.64 per credit for the 2015 compliance period. This direct final rule also corrects an error created by an earlier rule where EPA moved standards for process heat produced from biogas and accidentally overwrote standards for giant reed and napier grass. This final rule will take effect 30 days after it is published in theFederal Register unless it receives any adverse comments.

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