').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Supreme Court To Examine If Tariff Determined Under PPA Can Be Revised
Supreme Court sought the response of Tata Power to an appeal filed against the Andhra Pradesh High Court order which held that tariff determined under long-term PPA cannot be revised by a State ERC
Topics
power purchase agreements | Supreme Court
The Supreme Court on Wednesday sought the response of Tata Power to an appeal filed against the Andhra Pradesh High Court order which held that tariff determined under long-term Power Purchase Agreement (PPA) cannot be revised by a State Electricity Regulatory Commission.
A bench comprising Chief Justice D Y Chandrachud and Justice P S Narasimha issued notice to Tata Power Renewable Energy Limited on the appeal filed by Andhra Pradesh Southern Power Distribution Company Limited.
"Issue notice returnable on February 10, 2023. Short written notes of submissions, if any, be filed in the meantime," the bench said.
The power distribution company has in its plea filed through advocate Mahfooz A Nazki said the finding of the high court is ex facie (on the face of it) contrary to the specific provisions of the Electricity Act.
"The High Court has erred in not appreciating that a PPA is not a contract simpliciter as envisaged under the Indian Contract Act, 1872 but is a regulated contract under the Electricity Act," it said.
The high court in its order dated March 15, 2022 held that under no circumstances can the tariff mentioned in a PPA be amended/revised subsequently by the Commission.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Wed, December 14 2022. 21:35 IST
RECENT NEWS
JPMorgan's Berlin Moment: Chase Takes On Europe
There is something quietly symbolic about JPMorgan Chase choosing Berlin as its gateway into continental Europe. In a fo... Read more
What Strategy's Bitcoin Sale Really Tells Us
There is a moment in every bull run when the narrative starts to fray. Not with a crash, not with a scandal, but with so... Read more
Coutts Sets Scope On New Continent
Coutts steps into private marketsCoutts, the private bank best known for serving Britain’s wealthiest families and the... Read more
From Cypherpunk To Citadel
How Crypto Moved from the Wild West to the Mainstream Financial SystemA long-form analysis of Bitcoin's journey from fri... Read more
ACB Securities: Building Scale, Trust & Innovation
ACB Securities: Building Scale, Trust and Innovation in Vietnam’s Capital MarketsACB Securities (ACBS) is emerging as ... Read more
War Risk Returns To Markets As VIX Surges
For most of the past year, global markets behaved as though geopolitical risk had largely disappeared. Inflation was eas... Read more