Argus Dutch ERE Renewable Fuels Tickets
Overview
Argus emissions reduction unit (emissiereductie-eenheden, ERE) price assessments provide an independent benchmark for the value of certificates eligible for compliance under the Netherlands’ Energy for Transport Registry. These certificates reflect CO2‑equivalent chain emissions reductions across the road, maritime and inland waterway transport sectors.
Argus publishes daily assessments for both land‑based and maritime emissions reduction units:
Land ERE (LRE) assessments:
- LRE‑Advanced (LRE‑A) – Annex IX Part A feedstocks
- LRE‑Annex IXB (LRE‑B) – Annex IX Part B feedstocks
- LRE‑Conventional (LRE‑C) – Crop‑based
- LRE‑Other (LRE‑O) – Specific waste/crop biofuels
Maritime EREs (ZRE) assessments:
- ZRE‑Advanced (ZRE‑A) – Annex IX Part A feedstocks
- ZRE‑Other (ZRE‑O) – Specific waste/crop biofuels
Price assessment details
Transition from HBEs to EREs
The Dutch market is moving from renewable energy share targets to emissions‑savings mandates under the EU’s Renewable Energy Directive III (RED III). As a result, Argus’ ERE assessments replace its assessments of the long‑standing Dutch renewable fuel unit (HBE) prices.
Argus will discontinue HBE assessments before or by 1 May 2026, when the Dutch Emissions Authority (NEa) completes the final HBE year‑end closing. Historic HBE prices will remain available on Argus Direct.
What are Dutch ERE Renewable Fuels Tickets?
Companies that supply fossil fuels into the Netherlands must demonstrate annual greenhouse gas (GHG) reductions to the Nea, as set out in the Dutch transposition of RED III. EREs are the mechanism used to show compliance with GHG-reduction obligations.
EREs are generated primarily by blending renewable fuels with fossil fuels or using electricity to charge electric vehicles. EREs can also be generated by using renewable fuels of non-biological origin, such as green hydrogen, to refine transport fuels.
Tickets can be traded, and obligated parties buy EREs when this is the most cost‑effective way to meet compliance targets. Because EREs interact closely with physical biofuel values, transparent price discovery is essential for refiners, fuel suppliers, trading companies and renewable fuel producers operating in the Netherlands.
How are Argus Dutch ERE Renewable Fuels Tickets prices assessed?
Prices are assessed daily as the best bid and offer in the market at 16:30 London time. Assessments are quoted in euro cents/kg CO2‑equivalent.
All prices reflect the most recent obligation period still open for surrender. Forward periods may also be assessed when market liquidity is sufficient. The obligation year ends on 31 December, EREs are surrendered on 30 April of the following year. Argus ceases publication of an obligation year on 30 April and begins assessing the next period no later than 31 March of the obligation year.
For example, a 2027 obligation‑year assessment will be published no later than 31 March 2027 and will continue until 30 April 2028.
What are the advantages of the Argus Dutch ERE Renewable Fuels Tickets price assessments?
Argus’ independent ERE price assessments provide critical visibility to a market with limited visibility. Ticket prices are pivotal to monitoring prices across the biofuels complex, and help obligated parties and market participants identify the most cost‑effective compliance route.
How to access the price assessments
Argus ERE assessments are published daily in Argus Biofuels, the leading source of global insight on renewable fuels, feedstocks and compliance credit markets.