EC-26-242: Mayor’s Recommendation of Award RIN Credit Management for Renewable Natural Gas

Description

Mayor’s Recommendation of Award RIN Credit Management for Renewable Natural Gas

Summary

EC-26-242 recommends that Albuquerque authorize STX Commodities, LLC to manage Renewable Identification Number (RIN) credits generated through ABQ Ride’s compressed natural gas fleet. Using a virtual “book-and-claim” model, STX would source equivalent renewable natural gas, handle federal registration, reporting, audits, credit sales, and compliance, without changing the City’s fueling infrastructure. The contract is expected to run three years, with up to three one-year extensions. No direct cost is identified; STX would share credit revenue with the Transit Operating Fund, with $250,000 budgeted in non-transportation revenue and higher estimates possible. If rejected, General Fund support for transit may increase. STX ranked first among eight evaluated proposals with 923.6 points. The procurement follows the City’s Public Purchases Ordinance, and related records are generally subject to public inspection laws.