Consider the following statements:
1. Petroleum and Natural Gas Regulatory Board (PNGRB) is the first regulatory body set up by the Government of India.
2. One of the tasks of PNGRB is to ensure competitive markets for gas.
3. Appeals against the decisions of PNGRB go before the Appellate Tribunals for Electricity.
Which of the statements given above are correct?
Explanation
Statement 1 is incorrect: The Petroleum and Natural Gas Regulatory Board (PNGRB) was constituted under the PNGRB Act, 2006. It was not the first independent regulatory body in India; earlier regulatory commissions include the Securities and Exchange Board of India (SEBI, statutory in 1992), the Telecom Regulatory Authority of India (TRAI, 1997), and the Central Electricity Regulatory Commission (CERC, 1998).
Statement 2 is correct: Under Section 11 of the Act, a core mandate of the PNGRB is to protect consumer interests, promote fair competition, and ensure competitive markets for natural gas and petroleum products.
Statement 3 is correct: Under Section 30 of the PNGRB Act, 2006, the Appellate Tribunal for Electricity (APTEL) established under the Electricity Act, 2003 functions as the dedicated appellate authority to hear appeals against the decisions and orders of the PNGRB.
Hence, statements 2 and 3 are correct — Option B.