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JUL 26 2012

Petro regulator approaches apex court over Indraprastha Gas row

  • Economic Times, ET Bureau / Hyderabad
  • Created: Thu 26th JUL 2012

The downstream regulator Petroleum & Natural Gas Regulatory Board (PNGRB) has filed a Special Leave Petition challenging the Delhi High Court order of June 1 over the regulators row with Indraprastha Gas Ltd (IGL). IGL has received a copy of the petition, it said in a statement to the Bombay Stock Exchange. On June 1, the Delhi High Court had quashed the PNGRB order asking IGL to cut tariffs. The High Court bench had termed the regulators order as "illegal and also observed that PNGRB is not "empowered to fix or regulate the maximum retail price at which the gas is to be sold by retailers. IGL had challenged a PNGRB order on network tariff and compression charge issued on April 9. According to the PNGRB order, IGL can charge Rs 38.58 for every million British thermal unit (a measurement of heat value of fuels) for transmission of gas, against Rs 104.05 that it charges now. Also, CNG compression tariff was pegged at Rs 2.75 per kg. IGL charges Rs 6.66. These rates are to be retrospectively applicable from April 1, 2008.


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