May 17, 2020

25 Million Natural GasVehicles on the Road by 2019

energy digital
Natural Gas
Pike Research
natural gas vehi
Admin
3 min
NGV market to grow steadily over next 7 years
BOULDER, Colo., Jul 18, 2012 (BUSINESS WIRE) -- The current high costs of gasoline and diesel fuel, along with the substantial and growing supplies of...

 

BOULDER, Colo., Jul 18, 2012 (BUSINESS WIRE) -- The current high costs of gasoline and diesel fuel, along with the substantial and growing supplies of low-cost natural gas in many countries, are leading to renewed interest from both consumers and fleets in natural gas vehicles (NGVs). What's more, NGVs produce lower greenhouse gas (GHG) emissions, particulate matter, and nitrogen oxide than gasoline or diesel-powered vehicles, giving governments looking to reduce GHGs a tool to meet those objectives. According to a new report from Pike Research, a part of Navigant's Energy Practice, the worldwide market for light duty NGVs will grow steadily over the next 7 years, reaching 3.2 million vehicles sold in 2019. This will result in a cumulative total of 25.4 million light duty NGVs on the road by 2019, the market intelligence practice forecasts.

"While the sparse variety of available vehicle models and the slow spread of NGV refueling infrastructure remain key concerns in many countries, it's clear that the low cost of natural gas, combined with geopolitical forces, will expand the market for these vehicles," says senior research analyst Dave Hurst. "Many governments have promoted the growth of NGVs, either by offering reduced taxes on the vehicles or by increasing investment in refueling infrastructure."

SEE OTHER TOP STORIES IN THE ENERGY DIGITAL CONTENT NETWORK

Natural Gas Prices Force Down Marcellus Rigs

Is Fracking Cemeteries Immoral?

Read more in July's issue of Energy Digital: The Future of Transportation

Light duty natural gas trucks, such as small commercial vehicles, will outsell passenger cars in most regions, because consumer demand for NGVs continues to lag. However, Latin America and the Middle East are the exceptions, where strong consumer markets and taxi usage in Argentina, Brazil, Iran, and Egypt are accelerating passenger car sales. The largest regional market for NGVs by the end of this decade will be Asia Pacific, thanks largely to Pakistan, which had 2.7 million NGVs on the road at the end of 2012, as well as strong growth in countries like Thailand, India, and China. Sales of NGVs will also grow at a healthy pace in North America, with a compound annual growth rate of 10.2% from 2012 to 2019.

The report, "Light Duty Natural Gas Vehicles", analyzes the global market opportunity for NGVs in the passenger car and light duty truck markets. The report provides a comprehensive assessment of the current market, fuel availability, demand drivers, policy factors, and technology issues associated with the growth of NGVs for the consumer and fleet markets. Key industry players are profiled in depth, and forecasts for worldwide NGV sales, vehicle segment sales, and cumulative refueling station availability are included through 2019.

 

DOWNLOAD THE ENERGY DIGITAL IPAD APP

Share article

Jul 26, 2021

Ofwat allows retailers to raise prices from April

Ofwat
Utilities
water
prices
Dominic Ellis
3 min
Ofwat confirms levels of bad debt costs across the business retail market are exceeding 2% of non-household revenue

Retailers can recover a portion of excess bad debt by temporarily increasing prices from April 2022, according to an Ofwat statement.

The regulator confirmed its view that levels of bad debt costs across the business retail market are exceeding 2% of non-household revenue, thereby allowing "a temporary increase" in the maximum prices. Adjustments to price caps will apply for a minimum of two years to reduce the step changes in price that customers might experience.

Measures introduced since March 2020 to contain the spread of Covid-19 could lead to retailers facing higher levels of customer bad debt. Retailers’ abilities to respond to this are expected to be constrained by Ofwat strengthening protections for non-household customers during Covid-19 and the presence of price caps.  

In April last year, Ofwat committed to provide additional regulatory protection if bad debt costs across the market exceeded 2% of non-household revenue. 

Georgina Mills, Business Retail Market Director at Ofwat said: “These decisions aim to protect the interests of non-household customers in the short and longer term, including from the risk of systemic Retailer failure as the business retail market continues to feel the impacts of COVID-19. By implementing market-wide adjustments to price caps, we aim to minimise any additional costs for customers in the shorter term by promoting efficiency and supporting competition.”  

There are also three areas where Ofwat has not reached definitive conclusions and is seeking further evidence and views from stakeholders:   

  1. Pooling excess bad debt costs – Ofwat proposes that the recovery of excess bad debt costs is pooled across all non-household customers, via a uniform uplift to price caps. 
  2. Keeping open the option of not pursuing a true up – For example if outturn bad debt costs are not materially higher than the 2% threshold. 
  3. Undertaking the true up – If a 'true up' is required, Ofwat has set out how it expects this to work in practice. 

Further consultation on the proposed adjustments to REC price caps can be expected by December.

Anita Dougall, CEO and Founding Partner at Sagacity, said Ofwat’s decision comes hot on the heels of Ofgem’s price cap rise in April.

"While it’s great that regulators are helping the industry deal with bad debt in the wake of the pandemic, raising prices only treats the symptoms. Instead, water companies should head upstream, using customer data to identify and rectify the causes of bad debt, stop it at source and help prevent it from occurring in the first place," she said.

"While recouping costs is a must, water companies shouldn’t just rely on the regulator. Data can help companies segment customers, identify and assist customers that are struggling financially, avoiding penalising the entire customer in tackling the cause of the issue."

United Utilities picks up pipeline award

A race-against-time plumbing job to connect four huge water pipes into the large Haweswater Aqueduct in Cumbria saw United Utilities awarded Utility Project of the Year by Pipeline Industries Guild.

The Hallbank project, near Kendal, was completed within a tight eight-day deadline, in a storm and during the second COVID lockdown last November – and with three hours to spare. Principal construction manager John Dawson said the project helped boost the resilience of water supplies across the North West.

“I think what made us stand out was the scale, the use of future technology and the fact that we were really just one team, working collaboratively for a common goal," he said.

Camus Energy secures $16m funding

Camus Energy, which provides advanced grid management technology, has secured $16 million in a Series A round, led by Park West Asset Management and joined by Congruent VenturesWave Capital and other investors, including an investor-owned utility. Camus will leverage the operating capital to expand its grid management software platform to meet growing demand from utilities across North America.

As local utilities look to save money and increase their use of clean energy by tapping into low-cost and low-carbon local resources, Camus' grid management platform provides connectivity between the utility's operations team, its grid-connected equipment and customer devices.

Share article