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ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) has allowed up to Rs 499.91 per MMBtu (or 75.33 pc) increase in average prescribed gas prices for consumers of Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGC ) ). ).
In its decision on the claims of SNGPL and SSGCL for estimated revenue requirement/prescribed price for FY 2022-23, released here, OGRA has allowed an increase of Rs 406.28/MMBtu (74.42 percent) in average prescribed gas prices of SNGPL and Rs Rs 499 .91/MMBtu (75.33 percent) increase in average gas prices prescribed by SSGC. In two separate petitions submitted to the Oil and Gas Regulatory Authority (OGRA) for revision of their estimated revenue demands/prescribed prices for FY 2022-23, SNGPL and SSGCL have sought an increase of Rs 1294.02/MMBTU and Rs 667.44/MMBtu in average prescribed gas In its petition submitted to the Oil and Gas Regulatory Authority (OGRA), SNGPL has sought to increase the company’s prescribed average gas tariff from the existing Rs 545.89/MMBtu to Rs 1839.92/MMBtu or an increase of 237.05 pct. In the current petition, SNGPL projected shortfall in required revenue at Rs 178,814b, including Rs 445 million on account of LPG Air-mik project for FY 2022-23 seeking an increase in its average prescribed price by Rs. 488.08 per MMBtu from 1 July 2022. The applicant has also included Rs 295.268 million, which is the shortfall relating to previous years, thereby seeking a total increase in the average prescribed price of Rs 1,294.02/MMBtu w.e.f 1 July 2022 .
Apart from the above, the petitioner has estimated the cost of RLNG service at Rs.1,015.64/MMBtu for 2022-23, including Rs. 762.44/ MMBtu due to different impact of RLNG diversion. For UFG settings above the benchmark SNGPL demanded Rs 13.89/MMBTU. SSGC has requested OGRA to increase its average prescribed price from Rs 662.63/MMBtu to Rs 1360.07/MMBtu for FY 2022-23.
In its decision on the SNGPL petition, the OGRA provisionally includes gas sales volumes of 302,968 BBTU and allows sales revenue of Rs. 179.297 billion for FY 2022-23, calculated at prevailing selling price of natural gas. The authority provisionally fixes the shortfall of the estimated required revenue for the said year at Rs. 109.180b. Accordingly, the revenue requirement was temporarily allowed to SNGPL in the amount of 306.245 billion dinars for the specified year in relation to the request of 396.578 billion dinars.
The regulator has allowed an increase of Rs 406.28 to Rs 952.17 per MMBtu from the existing Rs 545.89 per MMBtu. As far as SSGC is concerned, OGRA has provisionally allowed a mandatory revenue of Rs. 327,227b for FY2022-23. The regulator has also allowed an increase of Rs 469.28/MMBtu in the average prescribed prices of SSGC, which will raise the tariff from the existing Rs 662.63/MMBtu to Rs 1161.91/MMBtu.
In its petition, SSGCL claimed revenue of Rs 348,330 b for fiscal 2022-23. The Federal Government shall, within 40 days of giving the advice referred to in subsections (1) and (2), notify the Authority of the minimum charges and selling price for each category of retail consumer of natural gas for notification in the Official Gazette. The prices prescribed by the Authority determined in point. (1) and (2), minimum fees and sales prices for each category of retail natural gas consumers.
The Administration, however, reiterates that the latest amendment to the Law on OGRA requires the FG to ensure an adequate and timely revision of the gas price within the stipulated time period. The Federal Government shall ensure that the selling prices so advised shall not be lower than the required revenue determined by the Authority.