"Audits can begin immediately with the dashboard set to launch April 30," Jessica Robinson, spokesperson for the NBB, told Telvent DTN.
Audits are phase one.
said phase two of the program includes a real-time data monitoring service that will be available to obligated parties through a subscription to the dashboard as well.
"It will serve as a valuable and cost effective tool for obligated parties to do their due diligence in verifying the validity of biomass-based diesel RINs," Robinson
said, adding that the program will be completely voluntary and does not preclude other solutions in the marketplace.
RINs are created when biofuel is produced but can later be traded separately.
said the NBB
has been working since the fall of 2011 to explore the development of a comprehensive RIN integrity program.
The group has met twice and agreed the "overarching goal is the need to establish stability in the RIN marketplace," Robinson
In December, a spread began developing between 2011 RINs from small and large producers.
was as high as 15cts during the month of January, and the disparity has continued through March.
"In the short term, the group and NBB
is focused on ways to reopen RIN markets to small and medium sized producers who have generated a significant number of RINs but are effectively locked out of the system due to instability," Robinson
On the Genscape website, the program is outlined for producers and obligated parties.
"Obligated parties that subscribe to the services will view a health score of each participating facility and view details including photos and the status of key integrity documents," Genscape's site said.
"In a single view, all facilities promoting their integrity will be visible on an equal stage."
will be promoting this program to its members.