New Delhi: In a relief provided to the power sector in one more Adani’s case, the apex electricity tribunal (APTEL) in a first of its kind judgment on September 15, 2022 soldered the object and intent of Change in Law provision in the PPAs viz to relieve the affected party of the impact of Change in Law for increase in cost and decrease in revenue.
The APTEL allowed the entitlement of the solar power generators towards ‘Carrying Cost’ incurred on account of promulgation of GST laws amounting to Change in Law. The event of promulgation of GST laws was recognised by the Central Electricity Regulatory Commission (CERC) but the consequential relief of ‘Carrying Cost’ was declined. The APTEL has now allowed this consequential relief of ‘Carrying Cost’ for Change in Law event.
Please click here to read the full article by Poonam Verma, published in ET Energy World.
Poonam has been actively involved in the disputes and corporate practice of the firm with primary focus in the Energy and Transportation Sector. For over a decade with the firm, Poonam has specialized in Power and Aviation Sectors.