The Environmental Protection Agency (EPA) has proposed limiting speculation of Renewable Identification Numbers (RINs) via five measures meant to prevent hoarding of the credits and improving oversight of the biofuel credit market to identify manipulation, a source familiar with the matter told Reuters.
The agency proposed requiring quarterly retirement or sales of RINs, rather than the current annual requirement. It also proposed blocking some non-obligated parties from buying the credits and requiring those with holdings well in excess of their obligation (likely 120% of their obligation) to disclose their holdings to EPA, according to the source.
EPA sent its proposals that also would permit the sale of E15 year-round to the Office of Management and Budget for final approval on Monday. It hopes to finalize the rules by June 1.