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APR 23 2015

CERC resolves petitions pertaining to power trading licence

  • Economic Times, ET Bureau / Hyderabad
  • Created: Thu 23rd APR 2015

The Central Electricity Regulatory Commission (CERC) has passed an order in the matter of non-compliance of the Procedure, Terms and Conditions for grant of trading licence and other related matters Regulations, 2009 by several new trading licensees. As per the aforementioned regulation, the trading licensees are required to undertake electricity trading and failure to do so may lead to the revocation of their licences. In line with this, the commission through an order dated January 05, 2015 directed the licensees including Visa Power Limited, Indiabulls Power Trading Limited, Shyam Indus Power Solutions private Limited, PCM Power Trading Corporation Limited, Vedprakash Power Private Limited and Parshavnath Power Projects Private Limited, to submit their business plan. While Visa Power, Indiabulls Power Trading, PCM Power Trading and Vedprakash Power have submitted their business plan, Shyam Indus Power Solutions, Parshavnath Power, Karam Chand Thapar and Brothers Limited, Gemac Engineering, and Green Fields Power Services have failed to do so.

The commission has directed the licensees who have submitted the plan to comply with the provisions of Trading Licence Regulations, 2009 within a year from the issue of the present order. The commission further states that upon failure to do so it will proceed for the revocation of their licences.

Meanwhile, the commission noted that Parshavnath Power Projects has already undertaken electricity trading with effect from January 2015; therefore, the commission has withdrawn the notice served to the company. Meanwhile, the commission has asked Shyam Indus Power to respond within three months as to why its licence should not be revoked for non-compliance with the commission’s direction. Further, the commission has directed Karam Chand Thapar and Brothers, Gemac Engineering Services, and Green Fields Power Services to make submissions pertaining to the notice for the revocation of their licences.

Tags

Visa Power Ltd Central Electricity Regulatory Commission Electricity Regulatory Commission Indus Power Trading Indiabulls Power Power Trading Electricity

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