Part 3 credits or debits represent the difference between the carbon intensity of a given transportation fuel and the current Part 3 (low carbon fuel) requirements for that fuel class. Credits can be retained by Part 3 fuel suppliers for future compliance years or traded with other fuel suppliers. For more information and a list of Part 3 fuel suppliers who are eligible for credit trading, see:
- Validation & Transfer of Credits (RLCF-013) (PDF, 109KB)
- Low Carbon Fuel Credit Market Report (RLCF-017) (PDF, 128 KB) (updated to June 30, 2017)
Credit Validation Form
Before credits can be transferred they must be validated by the Director. As specified by section 8 (7) of the Act, fuel suppliers may submit a single application once per quarter (ending March 31, June 30, September 30, and/or December 31) requesting the validation of credits accrued for low carbon fuels supplied in a previous quarter of the same compliance period.
Credit Transfer Before September 1, 2016
Until September 1, 2016, fuel suppliers may enter into agreements with other Fuel Suppliers to transfer debits or validated credits at any time. The transfers are to be reported as part of each Fuel Supplier’s compliance reports.
If a fuel supplier wishes to transfer credits on or after September 1, 2016, they must first complete a Credit Transfer Report to either report all transfers between January 1 and August 31, 2016 or certify that they have not transferred any debits or validated credits in that period.
Credit Transfer After September 1, 2016
Beginning September 1, 2016, any transfer or acquisition of debits or validated credits must be approved by the Director.
Part 3 fuel suppliers who wish to transfer or acquire debits or validated credits must apply for approval by submitting a Credit Transfer Proposal form. The transfer of debits or validated credits will take effect on either the date on which the transfer is approved by the Director, or a date specified in the credit transfer proposal, whichever is later.