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Deepak Parekh headed power panel to meet next week

Last Updated: Wednesday, May 15, 2013 - 19:34

New Delhi: A panel headed by HDFC Chairman Deepak Parekh will meet next week with the representatives of Tata Power, Adani Power and state distribution companies to break the logjam over increase in electricity tariff from power plants being fed with imported coal.

"The panel which is due to meet next week, is to deliberate on power tariff and find a solution to the issue," according to a source.

Tata Power and Adani Power had separately approached electricity regulator CERC for allowing them to increase tariff from their imported coal based projects due to increase in the cost of dry fuel internationally.

Adani Power had sought revision in tariff from its 1,980-MW Mundra project in Gujarat and Tata Power from its 4,000 MW plant at Mundra in the state.

CERC said last month that both the companies should be compensated for increase in the price of imported coal.

The 'compensatory tariff' package could be variable in nature in proportion with the hardship that companies suffer on account of unforeseen events.

CERC also directed constitution of a Committee consisting of the Principal Secretaries of the states concerned and CMDs of the distribution companies, chairman of the petitioner company or his nominee, an independent financial analyst and an eminent banker to recommend the compensatory tariff within a month.

Meanwhile, Haryana distribution companies are believed to have moved the Appellate Tribunal For Electricity opposing a tariff hike for electricity supplied from Adani Power’s Mundra plant.


First Published: Wednesday, May 15, 2013 - 19:34
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