LANCO TEESTA HYDRO POWER PRIVATE LIMITED Vs. MAHARASHTRA STATE ELECTRICITY DISTRIBUTION COMPANY LIMITED

JUDGEMENT

(1.) M/s Lanco Teesta Hydro Power Private Limited (LTHPPL) had signed a Power Purchase Agreement (PPA) with the Respondent, Maharashtra State Electricity Distribution Company Limited (MSEDCL), on 29 August, 2006 for supply of power from its planned 500 MW Teesta Hydro Power Project in Sikkim. The Tariff for the first 25 years as per the PPA is fixed at Rs. 2.32 per kWh. However, citing increase in the Project cost, LTHPPL has approached the Commission for approval of a Provisional Tariff as per the applicable Regulations.

(2.) In its original Petition dated 24 September, 2012 under Section 86(1)(b) and (f) of the Electricity Act (EA), 2003, LTHPPL had prayed for qualifying its liability following its termination of the PPA, and for directions to MSEDCL to enter into a new PPA with a Tariff based on new guidelines. Its prayers in the original Petition were as follows:

(3.) However, in the course of the proceedings, LTHPPL withdrew its termination Notice to MSEDCL on 18 October, 2013. Subsequently, on 19 December, 2013, LTHPPL amended its Petition, with the following prayers: