IGL sees room for further CNG price hike, plans 50 new stations in Delhi NCR
There’s no stopping the rise in gas prices, which are currently at a multi-year high. AK Jana, MD, Indraprastha Gas Ltd (IGL), assessed the impact.
“We are expecting that gas prices will go higher,” he said in an interview with CNBC-TV18.
People used to get CNG at a price of Rs 48 per kilogram and today, the price is at Rs 45 per kg. So, there is room for price hike, he added.
The conversion rates are also very high for CNG vehicles. Around 14,000-15,000 CNG vehicles per month are getting registered in Delhi versus 4,000-5,000 vehicles per month during pre-COVID times.
“This is a good step and I am expecting it will go up to 20,000 vehicles per month,” he said.
Currently, IGL is having 426 CNG stations in Delhi as against 395 petrol pumps. “On a pan-India basis, we have around 614 CNG stations and our target is to increase 100-150 CNG stations every year. Out of that, around 50 stations would be there in the NCR,” Jana shared.
In terms of capex plans for electric vehicles (EVs), he said, “We are targeting battery swapping facility, initially for two-wheelers and three-wheelers. By the end of this year, we will be having around 50 stations with battery swapping facility. That will expand to around 200 stations by another six months. We have allocated around Rs 100 crore for this.”