Tata Power Company announces update on an APTEL order

With regard to wholly owned subsidiary, Coastal Gujarat Power

With reference to Tata Power's wholly owned subsidiary, Coastal Gujarat Power (CGPL), which has an operating 4000 MW imported Coal based Ultra Mega Power Project (UMPP) at Mundra, Gujarat. Haryana as a Procurer had filed for stay of the interim order of the Appellate Tribunal for Electricity (APTEL) which upheld that compensatory tariff be payable after March 2014 as per order of Central Electricity Regulatory Commission (CERC).

Tata Power Company announced that the Hon'ble Supreme Court has on 25 August 2014 stayed the payment of the compensatory tariff by Procurers as was allowed as per APTEL's interim order and has further asked APTEL to expedite the case hearings and take a final decision on the subject matter quickly. As the case is already being heard by the APTEL, the Company would await a quick resolution of this issue through the required judicial process.

The formal order of the Hon'ble Supreme Court is awaited.

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