CNG-PNG prices: Adani Total Gas Ltd (ATGL) has decided to slash the prices of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) from today (April 8). As per a press release, the price of CNG has been reduced by up to Rs 8.13/kg and the price of PNG by up to Rs 5.06/scm.
ATGL also hailed the central government's landmark decision to link the Administered Price Mechanism (APM) Price for gas supply to CNG vehicles and residential households to 10% of the Indian crude basket with a floor price of $4 and a ceiling of $6.5 per MMBTU.
"In line with our policy to prioritize our end consumers, ATGL has decided to pass through the benefit of the New Gas Pricing guidelines announced by the Government of India to the large numbers of Home PNG and CNG consumers, thus enhancing the affordability of PNG and CNG with a saving of over 40% for CNG consumers as compared to Petrol prices and around 15% for Home PNG consumers as compared to LPG prices," the press statement read.
Revised prices effective from midnight
"Effective midnight tonight (Saturday), ATGL is pleased to announce reduction in the price of CNG up to Rs 8.13 per kg and the price of PNG up to Rs 5.06 per scm. The reduction of gas prices in CNG and PNG in our various Geographical Areas (GA's) across the country is provided in the attached Table," added the statement.
ATGL believes that this landmark decision of reforming Gas Prices by the Government of India shall act as a growth catalyst to enhance the footprint of Home PNG and CNG vehicles in a rapid manner to ensure an increase in the share of natural gas from 6.5 per cent to 15 per cent in India's energy basket by 2030 in line with the vision of Government of India.
Price reduction to bring much-needed relief
The substantial reduction in the CNG and PNG prices is expected to bring much-needed relief to the large number of users of both CNG and PNG in the country and in ATGL GA's. Further ATGL statement read, "Besides reduction in the prices of CNG and PNG as a result of the new Gas Price Guidelines, ATGL is also pleased to announce a reduction in PNG prices for our Industrial and Commercial Consumers by Rs 3.0 per scm its geographical areas (GAs)."
It should be mentioned here that ATGL is one of the largest CGD private listed CGD Company currently supplying CNG and PNG to ~7 lakh domestic, ~4,000 commercial, ~ 2,000 industrial customers and over three lakh CNG users across our 460 CNG stations in India.
(With ANI inputs)