Gas pipeline owners have been accused of seeking financial breaks to allow them to pay for anticipated early obsolescence of distribution networks.
Gas pipeline owners have been accused of seeking nearly half a billion dollars in financial breaks so they can charge customers more to cover early obsolescence of distribution networks, while touting a rosy future for “renewable gas”.
Accelerated depreciation charges allow asset owners to recover the costs of long-term investments more quickly where events foreshorten their expected economic lifetimes, in this case by adding them to the regulated tariffs consumers pay. Renewable gas includes green hydrogen and biomethane from waste, but IEEFA says its promotion is inconsistent with the networks’ accelerated depreciation claims, paltry expenditures on hydrogen readiness and timid pilots with 10 per cent hydrogen in limited gas networks. Multinet and AGN propose to spend just $19 million readying their networks for hydrogen over five years, and $6 million on the renewable gas campaign, against about $260 million sought for accelerated depreciation charges.
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