OGRA allows 45% hike in gas prices

MG News | June 05, 2022 at 05:22 PM GMT+05:00

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June 05, 2022 (MLN): The Oil and Gas Regulatory Authority (OGRA) has allowed Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL) to increase the prices by 45% and 44% per mmbtu, respectively.

The aforementioned hike is based on the Determination of Estimated Revenue Requirement (DERR) for FY23.

Accordingly, SNGPL has been allowed to increase the gas price by Rs266.58/mmbtu. However, it sought an increase in gas price by Rs1,079/mmbtu against the revenue requirement of Rs597 billion for FY23.

Meanwhile, OGRA allowed SSGC to move up the gas price by Rs308.53/mmbtu against the proposed hike of Rs313/mmbtu as the revenue requirement of SSGC for FY23 is around Rs286 billion.

Both determinations have been sent to the federal government for receipt of category-wise natural gas sale price advice.

The financial impact of previous years' shortfall of Rs264,894 million i.e. Rs720.20/mmbtu has been referred to the federal government for an appropriate policy decision and is, therefore, not made part of instant determination.

Through the said determination, the federal government has been requested advice on category-wise sale prices. Any revision as advised by the federal government shall be notified by OGRA. Till such time the existing sale price shall continue to prevail.

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