Amidst the State elections in Punjab, the Government has cut down power bills by INR 3 per unit for domestic consumers with a load of up to 7 KW. The Punjab State Legislative Assembly had passed two electricity bills (Bills) which give statutory recognition to the renegotiation of power tariff by the Punjab State Electricity Regulatory Commission (PSERC). This attempt at unilateral renegotiation of tariff can further precipitate Punjab’s power woes.
Against this backdrop, Aakanksha Joshi, Partner; Megha Agarwal, Principal Associate and Pranaav Gupta, Associate at Economic Laws Practice (ELP) have co-authored an article for ET Edge Insights, titled ‘New electricity laws in Punjab: Further precipitating Punjab’s power crisis?’. In their article the authors discuss the Punjab Energy Security, Reform, Termination and Re-determination of Power Tariff Bill, 2021. They further talk about the two mechanisms under which PPAs are signed, namely the MoU Route and the Bidding Route.
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