“Our QAP services have garnered clear economic benefits for our clients. We will continue to provide flexible, robust and cost-effective compliance solutions to the industry, building on the provisions of the final rule,” said Olson.
Louisville, KY (PRWEB) July 03, 2014
On July 2, 2014 the EPA finalized the quality assurance program (QAP) rule for verifying the validity of Renewable Identification Numbers (RINs) under the Renewable Fuel Standard (RFS) program (EPA, June 2014). To assist the renewable fuels community in navigating this final ruling, Genscape will host an educational webinar to explore the content of the newly finalized QAP rule at 2 p.m. ET on Thursday, July 17. Additional information and complimentary registration is available at http://info.genscape.com/QAP-Final-Rule.
The webinar, “The QAP Final Rule Frontier,” is the third in a series on QAP and will cover the following topics:
- What are the finalized regulations on QAP and how did the rule change from the interim period?
- What options are there for a RIN buyer to make a claim for affirmative defense or for RIN replacement for 2013 and 2014 RINs assured before the final rule?
- What changes are expected to EMTS and when will the changes be in effect?
- What are the benefits of QAP to a RIN generator, a RIN buyer or an obligated party?
- What are the current industry trends in adoption of QAP?
- What are the lessons learned from the fraud of the past and what should QAP providers be doing to prevent the fraud of the future?
“We are pleased to see the EPA bring certainty to the QAP program,” said Susan Olson, Genscape VP of Biofuels. “There have been several substantial changes to the rule and we look forward to discussing those changes during the webinar.”
Genscape has provided both QAP-B and QAP-A assurance to hundreds of millions of RINs while the QAP rule was in its interim stage.
“Our QAP services for the biofuels industry have garnered clear economic benefits for our clients. We will continue to provide flexible, robust and cost-effective compliance solutions to the industry, building on the provisions of the final rule,” said Olson.
Although the QAP-A portion of the program is being phased out, Genscape has been working on a commercial RIN replacement solution outside of the EPA’s program and plans to launch a commercial offering well ahead of the QAP-A phase out. “We listened to the industry and our clients, and recognized that there might be a better way to provide a RIN replacement solution. The economics tell us that there is a place for RIN ‘insurance’ in the market,” Olson said.
Genscape will continue to provide QAP-A and QAP-B services until the programs are phased out and will transition its services to the new Q-RINs for 2015. “We look forward to continuing to serve the biofuels industry, providing seamless solutions for integrity, and market transparency through the rule’s transition,” concluded Olson.
Registration for the upcoming webinar, The QAP Final Rule Frontier, is available at no cost by visiting http://info.genscape.com/QAP-Final-Rule. For market participants interested in learning how to navigate the QAP final rule based on specific needs or requirements, request a custom consultation at http://info.genscape.com/QAP-Rule-Custom-Consultation.
Genscape is the leading global provider of real-time data and intelligence for commodity and energy markets, driven to improve market transparency and efficiency. With thousands of patented monitors strategically deployed worldwide, Genscape is unique in its ability to collect and report proprietary market fundamentals in real-time or near real-time. Genscape delivers innovative solutions across a number of asset classes including: Oil, Power, Natural Gas and LNG, Agriculture, Petrochemical and NGLs, Maritime, and Renewables. Genscape clients often gain first-mover advantage, improve risk management, or increase operational efficiency. For more information, please visit: http://www.genscape.com.
For all press inquiries please contact:
Marketing Communications Manager
Office: +1 617 790 0903