Holding that Adani Power is eligible for carrying cost, the Supreme court ruled that the generating company is entitled to adjustment in its monthly tariff payment from the date on which the exemption notifications became effective.
A Bench led by justice RF Nariman while dismissing the appeals by Haryana discoms — Uttar Haryana Bijli Vitran Nigam and Dakshin Haryana Bijli Vitran Nigam — held that Article 13.4.1 of the PPA “makes it clear that adjustment in monthly tariff payment on account of change in law shall be effected from the date of the change in law, in case the change in law happens to be by way of adoption, promulgation, amendment, re-enactment or repeal of the law or change in law”.
