In Virginia, NATSO Inc. and the Alternative Fuels Council 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.
Category: Producer News