A government-appointed panel, led by KiritParikh, is likely to recommend price caps for natural gas produced from legacy fields of state-owned firms to help moderate CNG and piped cooking gas rates while keeping the formula for difficult fields unchanged.
The panel may opt to suggest two different pricing regimes, officials said.
In the legacy or old fields of ONGC and OIL — where the cost has long been recovered and which are currently governed by a formula that uses rates in gas-surplus nations such as the US, Canada and Russia — the committee is likely to recommend a floor or minimum base price and cap or ceiling rates.
