India Court Asks Regulator to Decide on Tata, Adani Power Relief
- Court asks CERC to decide in 8 weeks on amending contracts
- Tata Power, Adani Power shares surge on hopes of relief
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India’s top court Monday directed the federal electricity regulator to decide within 8 weeks on approving revised tariffs for three power producers in the western state of Gujarat due to increased cost of imported coal.
The Gujarat government sought the top court’s intervention to implement a state government panel’s report that recommended implementing a cost-reflective tariff, which would mirror any increase or decrease in input costs. The plea also includes a provision to extend the contract period for the plants run by Tata Power Co., Adani Power Ltd. and Essar Power.