The announcement followed the issuance of an arbitration ruling by
NPC, which was tasked with determining utility tariffs after the annulment of
previous price-setting regulations by Iran’s Competition Council. PGPIC said
the new framework ensures continued stability in the production chain and
averts disruption in a sector critical to the national economy.
“In the spirit of collaboration and rational engagement, and in line
with our commitment to supporting Iran’s economic drivers, Persian Gulf
Petrochemical Industries Company played a central role in bridging the legal
gap that emerged in utility pricing between 2021 and 2024,” the company said in
a statement.
The dispute arose after the Competition Council’s pricing decisions
were invalidated, creating a regulatory void. Utility products—such as steam,
water, and electricity—are vital inputs for the petrochemical sector. Two
subsidiaries of PGPIC, Mobin Energy and Fajr Energy, supply around 65% of these
critical utilities to downstream companies.
PGPIC emphasized that sustained production and the avoidance of
volatility were achieved thanks to broad coordination among major state and
industry bodies, including the Ministry of Petroleum, the government’s Economic
Commission, and key utility consumers.
“The recent consensus reflects the industry’s shared commitment to
constructive dialogue and long-term sustainability,” the statement added. “We
believe this collaborative model sets a precedent for addressing future
challenges in this strategic, export-oriented sector.”
The company noted that the agreement aligns with the national motto
for the current Iranian year: Investment for Production.