Consider the following statements Petroleum and Natural Gas Regulatory Board PNGRB is the firs...........

Geography Energy

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Consider the following statements:

Petroleum and Natural Gas Regulatory Board (PNGRB) is the first regulatory body set up by the Government of India.
One of the tasks of PNGRB is to, ensure competitive markets for gas.
Appeals against the decisions of PNGRB go before the Appellate Tribunals for Electricity.

Which of the statements given above are correct?

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Explanation:

Under the Petroleum and Natural Gas Regulatory Board Act, 2006 Petroleum and Natural Gas Regulatory Board (PNGRB) has been recognised as the authority to grant authorization to the entities for the development of City Gas Distribution (CGD) network in Geographical Areas. This not the first regulatory body, a number of regulatory bodies have existed before.

The board has several functions through which it ensures a competitive market for gas such as to provide, by regulations, and enforce, retail service obligations for retail outlets and marketing service obligations for entities; monitor transportation rates and take corrective action to prevent restrictive trade practice by the entities etc.

The Appellate Tribunal established under section 110 of the Electricity Act, 2003 shall be the Appellate Tribunal for PGNRB.