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EPA Finalizes RNG Rules Which May Serve as Model for RSG Rules
What’s the issue?
Earlier this month, the Environmental Protection Agency issued a final rule with respect to Renewable Fuel Standards. The statutes that established the program specified certain targets for various fuel types for certain years, but then directed the EPA to fix those goals going forward. In addition to setting those goals for 2023, 2024 and 2025, the new rule also adopted changes for the treatment of biogas and defined the term Renewable Natural Gas for the first time.
Why does it matter?
The provisions for RNG establish a new method for creating and retiring Renewable Identification Numbers (RIN), a unique number generated to represent a volume of renewable fuel. The new method is designed to reduce the burdens associated with biogas RINs but may also provide a roadmap for adopting a similar regime for trading the environmental features of Certified Natural Gas.
What’s our view?
As the EPA acknowledges, there is a definite limit on the amount of RNG that can be produced and consumed in the country, but the adoption of the RIN methodology, if expanded to Certified Natural Gas, could unleash a market for the environmental features of that type of gas as well.