SSGC seeks a massive increase in gas prices for 2022-23

Sui Southern Gas Company (SSGC) has sought a massive hike in gas prices for the financial year 2022-23.

The Oil and Gas Regulatory Authority conducted a public hearing in Karachi to seek the comments and points of view of consumers, the general public, and stakeholders on the review petition filed by Sui Southern Gas Company Limited (SSGCL) under Section 8(2) of the Oil and Gas Regulatory Authority Ordinance, 2002, read with Rule 4(3) of the Natural Gas Tariff Rules, 2002, for a review of its estimated revenue requirement and prescribed prices for FY 2022–23.SSGC’s plant starts residential gas meters manufacturing

In the instant petition, SSGCL has projected a shortfall in revenue requirement at Rs.184,881 million, including Rs. 33,787 million on account of the un-recouped shortfall for F.Y. 2021-22 seeking an increase in its average prescribed price by Rs. 667.44 per MMBTU in its prescribed prices for F.Y.2022-23.

Besides the above, the petitioner has estimated the RLNG cost of service at Rs. 26.23/MMBTU for 2022-23.

The Oil and Gas Regulatory Authority conducted the public hearing to provide a fair opportunity to all stakeholders, consumers, and the general public including the Karachi Chamber of Commerce & Industry and All Pakistan Textile Processing Mills Association to provide their points of concern and comments on the petition filed by the SSGCL.

The meeting was conducted in Karachi at Move n Pick Hotel, the authority members including Chairman chaired the meeting and heard the comments of all stakeholders, and reserved their decision to be issued within due course of time.