EPA gives PES 30 days to buy more RINs

January 30, 2018 |

In Washington, Reuters reports that the Environmental Protection Agency has given Pennsylvania Energy Solutions another 30 days, until May 1, to comply with its RFS obligations, forcing the company back into the market to buy RINs—likely using a $120 million debtor-in-possession loan to partly fund the move—after it had been selling off RINs in recent months. RIN prices had been falling as a result of the sell-off so the company risks pushing the market back in the other direction if it’s not careful. The EPA ruling means it can buy RINs slower in hopes of not causing a run on RINs.

Category: Policy

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