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arbcombo -- 2016 LCFS Compliance Information and Credit Clearance Market Information

Posted: 12 May 2017 17:36:31
LCFS Compliance Reporting for 2016. Air Resources Board staff
have analyzed the Low Carbon Fuel Standard (LCFS) compliance data
for compliance year 2016 and are announcing a 100 percent
compliance rate for this period. 

A total of 224 parties actively reported under the LCFS program
during 2016.  Out of those, 54 regulated parties reported
deficits.  These high carbon fuel parties generated 6,759,595
deficits during this period.  Low carbon fuels generated a total
of 9,060,949 credits in the program over the same timeframe.  

Summary of 2016 LCFS Compliance Reporting
Total number of parties actively reporting in 2016 under LCFS
program 224
Total number of parties holding deficits at the end of 201 54
Total number of parties that met their 2016 compliance obligation
54

As reported in the Q4 2016 Quarterly Data Summary, cumulatively
through 2016, the LCFS program has generated 25.6 MT million
credits and 15.9 MT million deficits, for a net total
over-compliance of about 9.7 million MT credits banked in the
program.

Credit Clearance Market

The LCFS includes a provision for holding a Credit Clearance
Market (CCM) that provides additional compliance flexibility to
regulated parties who have not met their previous year-end
obligation.  

On April 3, 2017 the Executive Officer (EO) issued a call for
credits to be pledged for sale in the CCM.  The following parties
pledged a total of 8,408 credits for sale in CCM 2017:

Name of the Regulated Party       Number of CCM Credits Pledged
BP Products North America, Inc.       5,000
Long Beach Public Transportation      3,408

As all the entities covered under LCFS met their 2016 compliance,
the EO has determined that the CCM will not occur in 2017.  All
the credits pledged for sale in CCM 2017 will be released
effective immediately.

If you have any questions regarding this document, please contact
Ms. Manisha Singh, Manager, Fuels Section, at (916) 327-1501 or
via email at Manisha.Singh@arb.ca.gov.

Program Background

The Low Carbon Fuel Standard is one of the measures adopted by
ARB, pursuant to Health and Safety Code Sections 38500-38599 (AB
32) to reduce greenhouse gases in California.  The Programís goal
is to reduce the carbon intensity of fuels sold in California ten
percent by 2020.  It is designed to help clean the air, protect
the environment, and drive the development of clean, low-carbon
fuels to improve California's energy security and energy
independence.  

The Credit Clearance Market portion of the LCFS increases market
certainty regarding maximum compliance costs, strengthens
incentives to invest in and produce low-CI fuels, and reduces the
probability of credit shortfalls and price spikes.


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