OPIS Launches Price Assessments for Canada Clean Fuel Regulations and British Columbia’s LCFS Program
Rockville, MD — OPIS, A Dow Jones Company, the leading source for energy and commodity pricing information, is pleased to announce the launch of price assessments for the Canada Clean Fuel Regulations (CFR) and British Columbia’s Low Carbon Fuel Standard (LCFS) Program. These daily assessments will be published in Biofuels Daily Report starting July 9.
With this expansion, OPIS continues to strengthen its benchmark position in the clean fuels regulation markets. OPIS is already considered an authoritative price reference for markets in California, Oregon and Washington. This addition will extend its comprehensive coverage to the Canadian market, giving OPIS customers objective price benchmarks across all of North America’s low-carbon fuels markets.
The launch of the daily price assessments comes just weeks prior to Canada’s first obligation fulfillment compliance deadline of July 31, 2024. The CFR aims to decrease transportation emissions by 15% by 2030, compared with 2016 levels.
“Canada’s newly launched nationwide Clean Fuel Regulations, alongside the existing British Columbia LCFS, help strengthen the movement toward low-carbon fuels across North America,” said Jordan Godwin, Director of Renewable Fuels Pricing at OPIS. “As the foremost provider of low-carbon fuel credit pricing, we were getting strong demand for enhanced transparency in Canada’s emerging markets. In response, we collaborated with stakeholders to develop daily price assessments, which provide greater insights into the value of these credits.”
In the push for low-carbon fuels, Canada has ramped up its production and blending of biofuels like ethanol, biodiesel, and renewable diesel. The country imported 638.65 million gallons of U.S. ethanol in 2023, up 27.1% from its 2022 total, to command 44.7% of total U.S. exports.
The OPIS Canada CFR and British Columbia LCFS assessments reflect confirmed market transactions, bids and offers. Full details about OPIS pricing methodologies are available at opisnet.com/about/methodology.
For more information on the OPIS Biofuels Daily Report and its new features, please visit our website or contact Jordan Godwin
About OPIS
OPIS, a Dow Jones company, provides accurate pricing, real-time news and expert analysis across the global fuel supply chain, including the Spot, Wholesale Rack and Retail markets. OPIS and its brands, McCloskey, PetroChem Wire, Axxis and Chemical Market Analytics, enable customers to buy and sell energy commodities with confidence across the globe via easy access to transparent data, expert-level customer support, educational events and energy data solutions.
About Dow Jones
Dow Jones is a global provider of news and business information, delivering content to consumers and organizations around the world across multiple formats, including print, digital, mobile and live events. Dow Jones has produced unrivaled quality content for more than 130 years and today has one of the world’s largest news-gathering operations globally. It is home to leading publications and products including the flagship Wall Street Journal, America’s largest newspaper by paid circulation; Barron’s, MarketWatch, Mansion Global, Financial News, Investor’s Business Daily, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, OPIS and Chemical Market Analytics. Dow Jones is a division of News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV).