NATSO Inc. and the Alternative Fuels Council (NATSOAltFuels.com), on Oct. 1 launched a new RIN Management Service designed to help fuel retailers that blend and sell renewable fuels to more efficiently participate in the Renewable Fuel Standard (RFS) program and manage their Renewable Identification Numbers (RINs).
The Alternative Fuels Council’s RIN Management Service will help those who buy, sell and blend biodiesel, ethanol, renewable diesel, and renewable CNG to manage the complex compliance requirements under the RFS.
Under the RIN Management program, participants will:
(1) consult with experts on the RFS and Low Carbon Fuel Standard compliance;
(2) get help registering for EPA’s RFS program as well as for the IRS Blenders License;
(3) access sources for fuel supply options;
(4) secure advice and assistance for state incentive programs; and
(5) monitor the status of impending IRS Blender’s Tax Credits.
Program participants also gain access to an exclusive software program that provides real-time RIN management, a system of record for all RIN transactions, as well as RIN account reconciliations. Through this software, blenders and marketers can reduce the staff time that it takes to comply with the RFS by as much as 75 percent. In addition, knowledgeable Alternative Fuels Council staff will perform EPA-required quarterly reporting as well as end-of-year third-party CPA audits.
“Complying with the Renewable Fuel Standard requires fuel retailers to navigate a series of complex requirements that demand a significant amount of time and a high level of accuracy,” said NATSO President and CEO Lisa Mullings. “As the number of fuel retailers entering the biodiesel and alternative fuels market continues to expand, it was clear that our industry needed to streamline and simplify this process for our members so that they can more effectively allocate staff and resources to running their businesses.”
NATSO Vice President of Government Affairs David Fialkov is scheduled to speak on Oct. 2 at OPIS' three-day “RFS2, RINS & Biodiesel Forum” in Chicago, Ill., about fuel marketers' and retailers' view of the Renewable Fuel Standard (RFS). As part of his presentation, Fialkov will discuss the fuel retailing community’s concerns with how the RFS has been implemented in recent months and outline how the RFS can be improved. Fialkov also will discuss NATSO’s Alternative Fuels Council and how it can help fuel retailers leverage the resources necessary to learn about and incorporate alternative fuels into their supply offerings. (Fialkov will speak Oct. 2 at 4:30 p.m. CDT.)
"Bringing new fuels to market and managing renewable identification numbers is a time-consuming task,” said NATSO Fuels Specialist Jeff Hove. “This program allows fuel retailers to access highly skilled professionals to help them expedite the process while accurately meeting their compliance needs. It effectively removes the hurdles that stand in the way of many fuel retailers from entering the alternative fuels and RIN markets, which may significantly increase fuel margins.”
NATSO launched the Alternative Fuels Council earlier in 2018 to help fuel retailers leverage the resources necessary to learn about and incorporate alternative fuels into their supply offerings. The new RIN Management Service marks the second offering from the Alternative Fuels Council this year.
The Alternative Fuels Council previously unveiled a Biodiesel Fuel Quality Plan designed to help those who blend, market, and distribute biodiesel blends ensure the final product that they sell to consumers meets a minimum standard of quality. A step-by-step guide to the blending process directs users through fuel quality management, including sampling procedures, protocols and proposed schedules, to help ensure that alternative fuel meets the required ASTM fuel quality standards. The Alternative Fuels Council also helps facilitate fuel testing and analysis for marketers at a substantially discounted price.
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