Asia Bizz: Indian oil regulatorPetroleum and Natural Gas Regulatory Board (PNGRB) recently cut the network tariff as well as the Compressed Natural Gas (CNG) compression charge IGL by more than 60 percent. The oil regulator has directed the firm to refund consumers the excess amount that has been charged since the year 2008.

In an order, PNGRB fixed the pipeline network tariff of IGL on April 9, 2012 at Rs. 38. 58 per million British Thermal unit ( mmBTu) as against Rs. 104.05 per mmBTu, which was proposed by the company. The compression charge for CNG was also slashed to Rs. 2.75 per kg from Rs 6.66 per kg submitted by IGL.

The oil regulator also stated that the charges would be applicable from April 1, 2008 and that it would recover the Network Tariff, along with the compression charges separately through an invoice without any premium or any discount on a non-discriminatory basis.

While talking about the refund, the Board said that the modalities and timeframe for refunds of differential network Tariff and the Compression Charge for CNG from the period of April 1, 2008, till the date of issuance of the order, will be discussed and advised subsequently.