ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has determined the revenue requirements of gas companies for fiscal year 2023-24. The average prescribed price per MMBTU of gas has been recommended at Rs1,238.68 and the increase in price per MMBTU is Rs415.11 with increase percentage of 50% for SNGPL.

The average prescribed price for SSGCL has been determined at Rs1,350.68 with increase in price per MMBTU at Rs417.23 and the increase percentage is 45%.

The average prescribed price determined by Ogra, mainly comprises cost of gas that constitutes approximately over 85% of the determined price. The cost of gas is a pass-through item and calculated in accordance with the agreement signed between the government and gas producing companies.

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The federal government has been requested to advice on category-wise sale prices. Any revision, as advised by the federal government, shall be accordingly notified by Ogra. Till such time the existing category-wise natural gas sale prices shall continue to prevail.

The details of Ogra’s decision regarding revenue requirements of gas utilities are available on Ogra website.

Copyright Business Recorder, 2023