22 October 2018 Oil & Gas In FY18, actual transmission volume for GAIL stood at 105mmscmd. Of this, HVJ accounted for 29.5mmscmd and HVJ upgradation accounted for 35.9mmscmd, both accounting for 62% of total transmission. GAIL charges levelized tariff of INR25.46/mmBtu on HVJ and INR53.65/mmBtu on HVJ upgradation. It has proposed increasing both tariffs to INR175.2/mmBtu and INR88.09/mmBtu, respectively. Our estimate suggests that if both tariffs are approved, then it would increase the GAILs EPS by 68% in FY20. But, revisions in September 2018 show that PNGRBs approved tariffs are ~60% lower than those proposed by companies. For its upcoming Jagdishpur-Haldia-Bokaro-Dhamra (JHBPDL) pipeline, GAIL has proposed an initial tariff of INR150.46/mmBtu. With the complexities involved, the discussion on unified tariff appears to have taken a back seat.