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

  • CERC proposes crucial amendments to facilitate support to Gas Based Power Plants  Read more
  • Divestment target looks stiff as CIL, ioc stake sales get postponed  Read more
  • India to double its power supply to Bangladesh  Read more
  • CAG asks DERC for data given by discoms  Read more
  • Adani stopped power supply to Haryana: Govt  Read more
  • Global VC funding in wind sector rebounds in Q1 2013  Read more
  • Scope to cut power tariff: Regulator  Read more
  • Coal cost pass-through an expensive proposition  Read more
  • Potential investors raise concerns over commercial coal mining norms  Read more
  • Maharashtra: Order in the matter of petition filed by Tata Power for Cumulative fulfilment of Solar RPO target by FY 2015-16  Read more