The Supreme Court turned down a plea by gas regulator Petroleum and Natural Gas Regulatory Board contending that it has the power to fix the retail price of gas.
With this, companies supplying gas are now free to fix rates on their own. The regulator can only monitor prices to ensure fair competition amongst the parties that are supplying compressed natural gas or piped natural gas to consumers.
“This landmark verdict is bound to be a big boost for the entire city gas distribution sector in the country which will now be looking at expansion in mission mode as per the vision of the government for providing clean energy solutions to the nation,” said Narendra Kumar, managing director, IGL, in a statement.
Full content: The Times of India
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI