Adani Total Gas Ltd (ATGL), a flagship Adani group company, has cut down CNG price by up to ₹8.13/kg and PNG price by up to ₹5.06/scm. The new CNG and PNG prices will be effective from 8th April 2023. After Mahanagar Gas Limited (MGL), ATGL is second Indian energy company to reduce CNG and PNG prices after new Government of India (GoI) announced a new Administered Price Mechanism (APM) price formula.
In a written press statement, ATGL hailed the GoI's decision to link the APM for gas supply to CNG vehicles and residential households to 10 per cent of the Indian crude basket with a floor of $4 and a cap of $6.5 per MMBTU.
Hailing the GoI's new APM gas price formula, ATGL stated, “In line with our policy to prioritize our end consumers, ATGL has decided to pass through the benefit of the New Gas Pricing guidelines proclaimed 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." On decision to reduce CNG and PNG prices, ATGL mentioned, "Effective midnight tonight, ATGL is pleased to announce reduction in the price of CNG up to ₹8.13 per kg and the price of PNG up to ₹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."
"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 ₹3.0 per scm its geographical areas (GAs)," ATGL further added.
"This will enable our Industrial and Commercial consumers to consume higher quantities of natural gas thus not only contributing towards the environment, but also optimizing their product costs," it said. "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", ATGL concluded.
On how this new gas pricing move would impact home PNG and CNG vehicles, ATGL said that the GoI's decision of reforming gas prices 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.
MGL cuts CNG, PNG price
Earlier, Mahanagar Gas Limited (MGL) on 7 April decreased the price of compressed natural gas (CNG) by ₹8 per kilogram to ₹79 per kilogram. Apart from this, it also reduced the piped natural gas (PNG) price by ₹5/scm to ₹49/scm.
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