Thu, May 12, 2011
Claims Simplified Emissions Compliance For Airlines And Fuel
Suppliers
Carbon and jet fuel prices
consolidated into one daily assessment is the essence of a pricing
service being launched by Oil Price Information Service (OPIS) at
an aviation industry conference in Singapore this week.
OPIS says it is unique in providing a price mechanism for new
ETS-ready supply contracts, such as World Fuels Services’
Carbon Neutral Jet Fuel. From January 1, 2012, airlines must submit
multiple emissions allowances, or related certificates, to national
authorities for every tonne of jet fuel burned. Some airlines have
hired staff to actively trade allowances, but many are seeking to
comply with the new emissions system without raising their fixed
costs. “For airlines who don’t want to actively trade
carbon emissions, a clean price is perfect,” said the
Environment and CSR Manager of a major Northern European
airline.
The Clean Jet Assessment is included in the OPIS Europe Jet Fuel
& Gasoil Report and provides the first integrated pricing
mechanism for the new supply contracts. As well as clean jet prices
in Rotterdam and Northwest Europe, OPIS is providing daily
Emissions Allowance price levels, and forward market projections
for jet fuel with carbon included at the end of the year, and in
2012.
OPIS President, Brian Crotty says, “Although it may feel
like the deadlines for submitting allowances are far off, fuel
managers need to think ahead, and this gives them a basis for
planning and purchasing as the 2012 buying season gets into gear
this Spring.”
OPIS’s Tim Lloyd Wright traveled to Singapore for the
launch at the International Air Transport Association Fuel Forum.
“The response has been very good so far,” he said.
“The aviation manager of Europe’s largest refiner just
called me to say how useful he though the assessment was –
this is a really big deal for the whole industry.”
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