Adani Power says it falls under 'composite scheme'

The tribunal on April 7, 2016, passed an order on appeals filed against grant of compensatory tariff by CERC to Adani Power

Adani Power Ltd (APL) on Saturday said the Appellate Tribunal for Electricity (Aptel) had rejected the claims of distribution companies (discoms) and consumer representatives, who had appealed against compensatory tariff to the company.

The Tribunal (Aptel) had on Thursday passed an order on appeals filed by discoms and consumer representatives against grant of compensatory tariff by the Central Electricity Regulatory Commission (CERC) to Adani Power, the company said in a filing to the BSE.

“APL falls under the jurisdiction of Central Commission ... as there exists a ‘composite scheme’ for generation and sale of electricity in more than one state. Thereby rejecting the claim of discoms and consumer representatives of APL being a composite scheme,” it said.

The promulgation of the Indonesian regulation and non-availability/shortfall of domestic coal are force majeure event and remanded the matter to CERC to determine relief in terms of PPAs at any rate within the period of three months from April 7, 2016, it added. “The CERC has no regulatory power to vary or modify the tariff or otherwise grant compensatory tariff under a tariff-based competitive bid process unless its an event of force majeure or change in law as per the PPA. In case of APL, APTEL has held that it is force majeure event,” it said.