- (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: "(i) Declare that the liability of the Petitioner towards the Respondent under the terminated PPA dated August 29, 2006 shall be limited to payment of compensation of Rs. 11,90,760 (Rupees Eleven Lakhs Ninety Thousand Seven Hundred and Sixty Only) (ii) Direct the Respondent to enter into a new power purchase agreement with the Petitioner for supply of power from the 500 MW Teesta Stage VI Hydro Electric Project from the commercial operations date, with tariff to be calculated as per the Central Electricity Regulatory Commission (Terms and conditions of Tariff) Regulations, 2009; ....."
(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: "(i) determine a provisional revised levellised tariff of Rs. 4.49 per unit as per the calculations provided in Annexure P19 in accordance with the CERC (Terms and Conditions of Tariff Regulations, 2009 as per the calculations provided in Annexure P19, based on the revised estimated Project cost of Rs. 5453.91 Crore computed by the independent consultant (Tractebel Engineering) and direct the Petitioner and the Respondent to incorporate such revised tariff in the PPA (ii) grant liberty to the Petitioner to approach the Commission for determination of final tariff following COD of the Project; and (iii) Pass such other orders/directions as this Commission deems appropriate in the interests of justice in the circumstances of the case." ;