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Public hearings held on Sasol gas prices

Mar 20 2013 19:17 Sapa

Company Data

Sasol Limited [JSE:SOL]

Last traded 608.00
Change -4.59
% Change -0.01
Cumulative volume 736935
Market cap 395.65bn

Last Updated: 30/09/2014 at 01:28. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - The National Energy Regulator of SA (Nersa) held public hearings on Sasol [JSE:SOL] Gas's pricing and tariff submissions on Wednesday.

The hearings were required under the Gas Act, which also stipulated that Nersa approve maximum prices, Sasol said in a statement.

"These prices are intended to set a ceiling, or a cap, above which operators, such as Sasol Gas, cannot price," it said.

"In line with the stipulated Nersa process, Sasol Gas made its submission to the regulator in December 2012. The Sasol Gas submission followed Nersa's two year consultation process."

Sasol said the hearings were an opportunity for industry representatives to address the idea of maximum pricing.

"Nersa has indicated that a decision regarding the Sasol Gas pricing and tariff submission will be handed down by the end of March," it said.

"The approval of maximum prices by Nersa will initiate the second step in the process, which will see Sasol Gas publishing its actual prices."

Sasol Gas MD Wrenelle Stander gave the closing remarks at the hearing.

"These submissions, as required by the Nersa process, seek to migrate all customers to standard prices and tariffs," she said, according to the statement.

"We are acutely aware that this migration to standardised pricing and tariffs will have varying impacts on our customers.

"Some customers will pay more while others will pay less, but the transition needs to take place in a manner that both retains customers, while also securing the future sustainability of the local gas industry," she said.
nersa  |  sasol
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