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DEC 10 2014

SC extends stay on Aptel proceedings in Adani compensatory tariffs case

  • Economic Times, ET Bureau / Hyderabad
  • Created: Wed 10th DEC 2014

The Supreme Court on Tuesday extended a stay on the proceedings of the Appellate Tribunal for Electricity (Aptel) hearing a case of Adani Power Ltd's issue of compensatory tariffs to 19 December.

A bench of justices J. Chelameswar and S.A. Bobde will hear the case on 17 December. Aptel had rejected an appeal from Adani Power against a 2013 Central Electricity Regulatory Commission (CERC) for filing the same after a delay of 481 days.

Adani Power was seeking higher tariffs to account for its increased cost of production due to several factors including devaluation of Indian rupees and higher prices of imported coal. However, the apex court on 25 August had said that these companies could not seek to hike tariffs because their contracts were obtained through competitive bidding and unforeseen increase in price of imported coal could not be accounted for in this manner.

Tags

Adani Enterprise Limited Adani Power Ltd Central Electricity Regulatory Commission Coal Imported Coal Appellate Tribunal for Electricity Power Electricity

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