ReFuels October station data has once again shown strong growth, and combined with the continued strength of the RTFC where prices have averaged 28p for the month, this ought to be driving continued growth and profitability for the business. ReFuels dispensed 5,664 tonnes of bio-CNG across its 16 station network, a 17% increase on the prior year largely driven by the increasing numbers of vehicles using the network. This is positive update and the RTFC price strength, which has moved above our forecast level of 26p, will be a welcome boost to bottom line earnings if maintained.
