Market News & Headlines >> EPA Delays Compliance Deadline for 2013 RFS
The U.S. Environmental Protection Agency on Friday extended the deadline for refiners to show compliance with the 2013 renewable fuels standard to Sept. 30, 2014, as the 2014 renewable fuel use targets remain delayed.
The EPA said the extension was necessary because refiners need to know their 2014 obligations before they can determine how many biofuel credits they may need to carry over from 2013 to comply with this year's requirements.
The EPA added that it hopes to finalize the 2014 renewable fuels standard "shortly." having previously pledged to finalize them by June 22. The EPA has submitted the final 2014 standard to the White House for review.
The biofuel program has been plagued by repeated delays and the EPA is already more than six months behind the legislative deadline to finalize the 2014 targets.
In a notice that will be published in the Federal Register, EPA said it had received “several comments on the proposed rule emphasizing the need for the EPA to promulgate the 2014 RFS standards quickly and the need for obligated parties to know their obligations for the following year when finalizing their 2013 compliance demonstrations."
Pushing back the 2013 deadline "will allow the EPA time to complete its work on the 2014 renewable fuel standards rule in a thorough manner, while also providing time between the expected date of finalizing that rule and the new 2013 compliance deadline which will be helpful to obligated parties," the agency said.