ISLAMABAD - The Oil and Gas Regulatory Authority (OGRA) has determined an increase of up to 50 percent in the prescribed prices of gas for the consumers of both the Sui Companies for the fiscal year 2023-24.
In its determination, on the estimated revenue requirements (ERR) of Sui Companies for FY 2023-24, forwarded to the federal government for advice on category-wise sale prices, OGRA has recommended a hike of Rs415.11 per Million British Thermal Unit (MMBTU) or 50 percent for Sui Northern Gas Pipeline (SNGPL). The proposed hike will push the average prescribed price of SNGPL to Rs.1238.68 per MMBTU from the existing Rs 823.57 per MMBTU. Similarly, the regulator has determined an increase of Rs417.23 per MMBTU or 45 percent in the price of Sui Southern Gas Company Limited (SSGCL). The OGRA determination will push the average prescribed price for SSGC to Rs1350.68 per MMBTU from the existing Rs 933.46 per MMBTU.
The average prescribed price determined by OGRA, mainly comprises cost of gas that constitutes approximately over 85 per cent of the determined price. Cost of gas is a pass-through item and is calculated in accordance with the agreement signed between government of Pakistan and gas producer companies.
OGRA has requested the federal government for advice on category-wise sale prices. Any revision, as advised by federal government, shall be accordingly notified by OGRA. Till such time the existing category-wise natural gas sale prices shall continue to prevail.
