The API Credit Exchange was developed to help companies comply with the Renewable Fuels Standard (RFS). Under EPA rules, gasoline refiners and importers must increase their use of renewable fuels. Renewable fuel usage will be tracked by Renewable Identification Numbers (RINs) which producers or importers of renewable fuel assign to their product. EPA also allows for buying and selling of RINs (click here to access more information regarding EPA's RFS Program). The API Credit Exchange helps these buyers and sellers meet over the Internet. In providing this service, the API Credit Exchange adds liquidity to the system and aids in price discovery for RINs.
Cost
The cost to use the API Credit Exchange depends on the account level. Silver Accounts cost $1,000 and Gold Accounts cost $1,500. Accounts are good for one year from purchase and subsequent renewals are discounted by $250 ($750 and $1,250 respectively). All prices are subject to applicable sales tax. There is no per transaction fee, so these are the only charges you will incur. Fees are paid upon account setup and can be paid by credit card. Subscribers to the API Credit Exchange are offered a discount on API-sponsored events, such as training and workshops, as well as statistical products.
Features
System users are offered two levels of accounts, Silver or Gold. Silver members have access to the bulletin board style postings of RIN buy and sell transaction offers. Gold account holders have access to the postings, and also have access to the My Database function. My Database enables users to input information for all of their RIN transactions (including those done outside the API Credit Exchange) for easy conversion into the preferred format for reporting RFS100, RFS200, RFS300 and RFS400 reports to EPA. Both accounts also have access to view recent news articles and upcoming workshops, training seminars and other events.
The API Credit Exchange features a bulletin board style list of postings created by users that advertise their intent to buy or sell a volume of RINs. Users can search and sort by various parameters, and the data is easily exported into popular spreadsheet formats. A user that is interested in completing a transaction clicks on the posting and the contact information of the posting party is displayed. Some companies may not want to share their information without knowing a viewer intends on completing a transaction, so postings may be listed without company name. When a user clicks on these postings, and enters their own contact information, an email is sent to the person creating the posting to contact the interested party.
Once parties establish contact on the API Credit Exchange, the actual terms and conditions of the transaction are up to the individual companies. API does not take title to RINs or facilitate in contract negotiation. Prices and volumes listed on the API Credit Exchange are not guaranteed and should be firmly agreed upon directly between the companies and explicitly stated in their contracts.
The API Credit Exchange system will evolve as new rules are established by EPA to revise the RFS as directed by Congress in the Energy Independence and Security Act of 2007.
![[logo: energyAPI]](/systemimages/common/api_logo.gif){kind=logo}
