Ahead of ITT Hub 2021, Portland Analytics, Logistics UK’s official fuel pricing provider, has announced the launch of its new Renewable Toolkit, the first price reporting service to offer a UK-market HVO index.
What is HVO?
HVO (Hydrotreated Vegetable Oil), is a low-carbon alternative that can be used as a like-for-like replacement to traditional liquid fuels, without the requirement for changes to vehicles or infrastructure – known as a ‘drop-in’ alternative. HVO can yield up to a 90% reduction in greenhouse gas emissions vs traditional fuels and therefore presents an appealing option for industries looking to decarbonise, where other solutions such as battery-electric are not currently viable.
As a drop-in replacement for diesel, gasoil and kerosene (for both heating and aviation use), HVO represents an attractive solution for a wide variety of sectors. However, although the base product is the same, price varies by end-use due to differences in carbon reduction legislation and duty rates. As a result, there is very little visibility in the structure of HVO prices and a significant dislocation between prices seen in Europe compared to the UK. Without an accurate price index, prospective buyers are reluctant to commit to the switch despite the potential emissions reduction HVO can offer. Portland wanted to provide a solution to this.
Portland’s Renewable Toolkit
Portland’s HVO price information forms part of its wider Renewable pricing toolkit, which joins an existing suite of Wholesale, Delivered-In and Forecourt services at https://portlandpricing.co.uk/. Content varies by toolkit, however the Renewable service includes tools to provide complete price transparency on HVO and several other grades (such as high-blend biodiesel) on a daily, weekly and monthly basis. This information can be used to benchmark quotes from suppliers and monitor costs accurately. The toolkit also contains a comparison of Greenhouse Gas emissions (and the reduction they offer against diesel) by grade, to enable users to compare the benefits of various alternative fuels.
Portland will be offering free, no-obligation demonstrations of its fuel pricing service at ITT Hub 2021 on stand C29. For further information prior to the exhibition, visit https://portlandpricing.co.uk/ or contact Portland directly using the details below.
General Manager, Portland Analytics Ltd
Email: [email protected]
Tel: 01904 488803
Portland Analytics is a fuel and energy consultancy that provides a range of specialist advisory and price reporting services to businesses and government organisations across the UK, Europe and the Americas. Portland’s fuel pricing service (https://portlandpricing.co.uk/), endorsed by Logistics UK and FTA Ireland, is used by more than 300 major fuel users to monitor costs and calculate fuel surcharge mechanisms.