Power News We love to talk!

AUG 13 2012

Apex court admits Adani plea on power supply pact

  • Economic Times, ET Bureau / Hyderabad
  • Created: Mon 13th AUG 2012

The Supreme Court on Monday admitted a plea by Adani Power Ltd seeking to terminate a pact to supply power to public sector Gujarat Urja Vikas Nigam Ltd (GUVN).

According to the agreement inked in 2007, the company was to supply GUVN 1,000 MW of power for 25 years at a levelised tariff of Rs 2.35 a unit.

The company had sought the termination of the power purchase agreement in November 2008 claiming difficulties in obtaining fuel (coal) sourcing (from Gujarat Mineral Development Corporation Ltd). It had also reportedly cited the rise in prices of imported coal, for instance from Indonesia.

Aggrieved by the move, GUVN moved the Gujarat Electricity Regulatory Commission, which then asked Adani Power not to terminate the pact and directed it to provide power as per the conditions stated in the agreement.

Adani Power appealed to the Appellate Tribunal for Electricity, which also ruled in GUVN’s favour last year.

Following this, the company approached the apex court.

Mean while, GUVN had filed a caveat asking the apex court not to pass any order in the matter without hearing it.

Tags

Gujarat Adani Power Ltd Gujarat Urja Vikas Nigam Indonesia Electricity Regulatory Commission Appellate Tribunal for Electricity Gujarat Electricity Regulatory Commission site news Power Electricity

Related News

  • APTEL: Haryana,Puri Oil Mills Ltd. Vs HPPC Regarding re-determination of tariff  Read more
  • RGPPL incurs financial and generation loss due to closure of Dabhol project  Read more
  • IFC to give Rs 202 crore for 100-MW solar project in Rajasthan  Read more
  • A third of new cars sold by 2040 may be electric: report  Read more
  • Gas board to move apex court against Delhi HC order on IGL  Read more
  • PTC India eyes more medium- term power pacts  Read more
  • Tata Power loss widens to Rs 67 cr on lower revenue  Read more
  • Power cut fears in MP as staff go on strike  Read more
  • Power shock for Salem Corporation  Read more
  • PFC to raise $250 m via ECBs; looking to fund coal projects overseas  Read more