The Ministry of Power on August 19, 2021 has issued Draft Electricity (Late Payment Surcharge) Amendment Rules, 2021 to further amend the Electricity (Late Payment Surcharge) Rules, 2021.
The amendment in the Electricity (Late Payment Surcharge) Rules, 2021 are as follows: -
• In Rule 4 which specifies Late Payment Surcharge, the proviso has been inserted, namely: -
“Provided further that the rule 4 shall be applicable to payments to be made in pursuance of –
a) All power purchase agreement, Power supply agreements and transmission service agreements, in which tariff is determined under section 62 of the Act.
b) Such power purchase Agreement, power supply agreements and transmission service agreements that become effective after these rules come into force, in which tariff is determined under section 63 of the Act.
• In Rule 5 which specifies “Order of Payment and Adjustment towards Late Payment Surcharge”, has been substituted.
• In Rule 6 which specifies “ if a distribution licenses has any payment including late payment surcharge outstanding after the expiry of seven months from the due date of payment as mentioned in the PPA”, has been inserted.
The Comments & Suggestions are provided within 30 days from August 18, 2021 at [email protected].
[Notification No- 23/22/2019-R&R(Part-4A)]
