Aptel junks UPERC tariff cut for Tata Power unit

The Appellate Tribunal for Electricity (Aptel) has set aside Uttar Pradesh Energy Regulatory Commission’s (UPERC) order asking Tata Power-backed Renascent Power Ventures to cut the tariffs of its 1980 MW Prayagraj Power project by Rs 0.14 per unit from Rs 3.02 per unit adopted in the relevant PPA signed in 2010.
The tribunal’s order could have a positive bearing on the debt-laden power sector in the country as many plants are under the threat of post-facto PPA revisions resulting from government policies that get reflected on regulators too.

Upholding Renascent Power’ appeal challenging the UPERC’s order dated March 29, the appellate tribunal said the regulator’s move was tantamount to “interference”.