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Vinayak Chatterjee: Landmark judgment for power sector

The Appellate Tribunal for Electricity has laid down clear ground rules for winning bidders' request for 'compensatory tariff increase', asking the central regulator to assess the adverse effect and g

Vinayak Chatterjee

A full bench of the Appellate Tribunal for Electricity (Aptel) — the appeals forum of the Central Electricity Regulatory Commission (CERC) — delivered a historic judgment on April 7, 2016, establishing principles governing resetting of competitively bid out long-term power purchase agreements. But first, some action replay. Almost half-a-decade ago, the imperative to renegotiate contracts came up for two marquee investments in power generation — the 4,620 Mw power project developed by the Adani Group and the 4,000 Mw UMPP (Ultra Mega Power Project) developed by the ...