EPA Sets 2018 Cellulosic Waiver Credit Price at $1.96 Each
The U.S. Environmental Protection Agency (EPA) announced that the federally issued waiver credits needed to meet certain cellulosic fuel blending mandates in 2018 will cost $1.96 each.
For any calendar year for which the projected volume of cellulosic biofuel production is less than the applicable volume of cellulosic biofuel set forth in Clean Air Act (CAA), EPA must reduce the required volume of cellulosic biofuel for that year to the projected volume, and must provide obligated parties the opportunity to purchase cellulosic waiver credits (CWC). The price of these credits is determined using a formula specified in CAA section 211(o)(2)(B)(III).