In a recent development, Sui Northern has formally requested the Oil and Gas Regulatory Authority (Ogra) to approve a substantial increase in the price of gas by Rs 1715 per mmbtu. This bold move by Sui Northern aims to address a significant shortfall in revenue requirements for the fiscal year 2023-24, totaling a staggering Rs 181 billion 51 crore 60 lakh.
The application filed by Sui Northern highlights the urgency of the matter, proposing a new gas price of Rs 2961.98 paise per mmbtu, a sharp increase from the current rate of Rs 1246.49 paise per mmbtu. To shed light on the gravity of the situation, Sui Northern emphasizes the need for this adjustment to ensure the sustainability of their operations.
In response to this, Ogra has scheduled a crucial hearing on Sui Northern’s application for December 11. The outcome of this hearing will play a pivotal role in shaping the energy landscape in the coming months.
Meanwhile, in a parallel development, the National Electric Power Regulatory Authority (Nepra) has issued a notification announcing a hike in the cost of electricity by 3 rupees and 5 paise per unit. This increase, attributed to the October fuel price adjustment, set to reflect in the December bills. It’s important to note that Lifeline customers and K-electric customers will be exempt from this electricity price surge.
As the nation braces for these significant changes in energy costs, consumers advised to stay informed about the evolving situation. The proposed adjustments expected to impact various sectors and households across the country.
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