Global transformer oil market is projected to reach $2.79 Billion by 2020 at a CAGR of 7.14% from 2015 to 2020. Global transformer oil market growth is driven by the increasing electric demand in developing economies such as India, Brazil, and South Africa, which are expected to enhance their grid infrastructure to increase the electricity accessibility to the region’s population. In addition, rapidly increasing demands from various application industries and regions are generating several exciting markets opportunities for transformer oil.
The global gas insulated switchgear market is projected to reach a market size of $28.09 billion by 2023, growing at a CAGR of 8.73% during the forecast period. In 2018, the market in Asia Pacific is estimated to be the largest for gas insulated switchgear, followed by Europe. This trend is expected to continue till 2023. The growth of the gas insulated switchgear market is driven by the growth in renewable power generation, increasing investments in the transmission and distribution infrastructure, the rise in energy demand, limitations of space availability in densely populated urban areas, and government initiatives toward improving electricity access.
The utility communication market is expected to grow at a CAGR of 15.55%, from 2016 to 2021, to reach a market size of $15.45 billion by 2021. Asia-Pacific is estimated to be the largest market for utility communication, followed by North America in 2016. This trend is expected to continue till 2021.
According to the latest report by IMARC Group, titled “Global Solar PV Inverter Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global solar PV inverter market size reached $6.7 billion in 2018.
- If PG&E is found legally responsible for some or all of the costs connected to the 2017 and 2018 Northern California wildfires, its liability could exceed $30 billion, according to the company’s filing with the Securities and Exchange Commission on Monday. And that figure does not include potential punitive damages, fines and penalties or damages related to future claims.
- Numerous reports indicate PG&E is in negotiations with lenders about debt restructuring. “They’re going to try to get people to accept less than what is owed,” In its statement announcing the likely bankruptcy filing, PG&E said it expected the process to “support the orderly, fair and expeditious resolution of its potential liabilities resulting from the 2017 and 2018 Northern California wildfires.” On Monday morning, a set of barricades appeared outside PG&E’s headquarters building in San Francisco, though no sign of protesters was evident.
- Vanguard held $227.9 million of PG&E debt in its $5.6 billion California Municipal Money Market fund as of Dec. 31, according to data compiled by Bloomberg. It held another $110 million of PG&E’s debt in its California intermediate and long-term funds and $94.5 million in its $18.3 billion national money market fund. USAA was the second-biggest holder of PG&E municipal debt with $86.6 million, while American Century Companies Inc. was the third-biggest, according to data compiled by Bloomberg.
- Shares of PG&E Corp. plummeted 55% in premarket trade Monday, that is after the stock has plunged 63% over the past three months through Friday.
- California Governor Gavin Newsom responded to the announcement, saying: “While PG&E announced its intent to file bankruptcy today, the company should continue to honor promises made to energy suppliers and to our community. Throughout the months ahead, I will be working with the Legislature and all stakeholders on a solution that ensures consumers have access to safe, affordable and reliable service, fire victims are treated fairly, and California can continue to make progress toward our climate goals.”