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India: Regulator PNGRB cannot fix gas price, says Supreme Court

 |  July 1, 2015

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

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