TORRENT POWER LTD. Vs. TORRENT POWER LTD., TORRENT POWER LTD., PTC INDIA LTD. AND MADHYA PRADESH POWER MANAGEMENT COMPANY LTD.

JUDGEMENT

(1.) THIS petition has been filed by the petitioner, Torrent Power Ltd., for approval of tariff of UNOSUGEN Power Plant (382.5 MW) (hereinafter referred to as "the generating station") located at Taluka Kamrej, District Surat in the State of Gujarat for the period from the date of commercial operation up to 31.3.2014, based on the Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, 2009 (hereinafter referred to as "the 2009 Tariff Regulations"). The petitioner, Torrent Power Limited (TPL) is a public limited company incorporated under companies Act 1956 and carrying on the business of generation and distribution of electricity in the cities of Ahmedabad, Surat, Gandhinagar, Bhiwandi and Agra.

(2.) THE petitioner has set up the 382.5 MW UNOSUGEN Power Plant at the premises where the SUGEN power plant (1147 MW) is located. The present generation capacity of the petitioner is around 1697 MW and two other projects of around 1583 MW are at an advanced stage of implementation. The project has been awarded Mega Power status by the Government of India vide its letter dated 29.7.2010.

(3.) THE petitioner has entered into long term Power Purchase Agreement (PPA) with PTC India Ltd. for sale of 35 MW of power and PTC will sell the power on back -to -back basis to the respondent, MPPMCL, the beneficiary herein. Also, the petitioner will supply 278 MW of power to licensed distribution divisions of Ahmedabad, Gandhinagar and Surat of Torrent Power Ltd. under the long term PPAs to be approved by the Gujarat Electricity Regulatory Commission. The residual power would be sold by the petitioner through short term bilateral contract/or through Power Exchange.