Oregon CFP Credit Bank Captures First Quarterly Build in a Year

Oregon’s clean fuel program (CFP) generated more deficits than credits in the fourth quarter of 2022, marking the first quarterly build in banked credits in a year.  Biodiesel and renewable diesel combined to contribute 54 percent of program credits. Ethanol and Electricity were the next largest credit generating fuels, adding 24 percent and 11 percent respectively. 

Fourth quarter credit generation reached 525,383, eight percent above the third quarter generation and 33 percent over the 395,400 credits created in Q4 2021. Deficit generation fell seven percent to 520,627 in the fourth quarter, led in part by less diesel consumption. With credits outpacing deficits by 4,756, the credit bank had its first quarterly increase in a year.  That wasn’t enough to offset the prior three quarterly credit draws. 

The credit bank closed 2022 with…