Gas utilities seek massive hike in tariffs.
ISLAMABAD -- The gas consumers should be ready for another hike in gas tariff as the Sui companies have sought the Oil and Gas Regulatory Authority (OGRA) nod for increase of upto Rs 730 per Million British Thermal Unit (MMBTU) in their average prescribed prices to meet their revenue shortfall of financial year (FY) 2023-24.
In separate petitions submitted to Oil and Gas Regulatory Authority (Ogra), Sui Northern Gas Pipelines Limited (SNGPL) has sought hike of Rs 730.39/MMBTU in tariff, while Sui Southern Gas Company Limited (SSGC) sought Rs 391.69/MMBTU increase in gas price effective from July 1, 2023.
SNGPL and SSGC, in separate petitions, have sought massive price hike for determination of their estimated revenue requirement/prescribed prices for the next financial year. According to the SSGC petition, the estimated revenue requirement for FY 2023-24 has been worked at a shortfall of Rs. 98,310 million or Rs. 391.69 per MMBTU for indigenous gas business (including a subsidy of LPG Airmix amounting to Rs. 2,807 million or Rs. 11.19 per MMBTU) and a shortfall of Rs. 15,076 million or Rs. 32.62 per MMBTU for RLNG business which may be allowed in SSGC prescribed price effective 1st July 2023. SSGC has projected average prescribed price of Rs. 1,060.12 per MMBTU for FY 2023-24 in natural gas business activity-wise shortfall in respect of revenue requirement of indigenous gas. In a footnote, the company has said that upward adjustment of Rs 391.69 per MMBTU for FY 2022-23 has been re-worked at Rs 738.96 per MMBTU with the consideration that effect of price adjustment should not be passed on to domestic, special commercial (roti tandoors) customers and feed stock of fertilizer industry. However, OGRA and GOP are authorized to rework these numbers according to their policies and as per the provisions of Section 8 of OGRA Ordinance, 2002.
Regarding the Un-accounted For Gas (UFG), the company said that UFG for indigenous gas has been projected at...
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