PG&E Delivers $4 million in Rebates to Customers Using Compressed Natural Gas as a Clean Fuel
Business Wire reports: Pacific Gas and Electric Company (PG&E) today announced the launch of the new Clean Fuel Rebate program for customers driving vehicles using compressed natural gas as a clean transportation fuel. Eligible customers already have a compressed natural gas account and fill up at PG&E stations across Northern and Central California. The new rebate is part of California’s statewide Low Carbon Fuel Standard initiative, which aims to reduce transportation- related greenhouse gas emissions by encouraging the adoption of clean fuels like compressed natural gas. Transportation is the single largest contributor to greenhouse gas emissions in California at 40 percent. Each mile driven using compressed natural gas reduces vehicle greenhouse gas emissions by 30 percent compared to gasoline cars and 25 percent compared to diesel trucks.
Weaker Dollar Supports Natural Gas Prices, Commodity Complex Holds Firm
Economic Calendar reports: Net dollar losses and a firm tone in oil price helped support natural gas prices on Wednesday ahead of Thursday’s gas storage data. Natural gas prices held a solid tone late in the US session on Tuesday with support just below the $3.05 per mBtu level. Global market influences remained broadly supportive for natural gas prices on Wednesday with a net gain in crude oil prices despite the API and EIA inventory data both recording a net build on the week. The combination of higher oil prices and a weaker dollar provided net support to natural gas prices with a move to highs above $3.10 early in US trading on Wednesday.