The Ministry of Power on February 29, 2024, notified the Electricity (Late Payment Surcharge and Related Matters) (Amendment) Rules, 2024 to further amend the Electricity (Late Payment Surcharge and Related Matters) Rules, 2022.
The following has been amended-
•In rule 7, for clauses (1) to (6) and explanation, the following clauses and explanation shall be substituted.
•In said rules, in rule 9, (a) for sub-rule (1), the “(1) A distribution licensee shall intimate its schedule for requisitioning power for each day from each generating company with which it has an agreement for purchase of power at least two hours before the end of the time for placing proposals or bids in the day ahead market for that day, failing which the generating company, shall offer, the un- requisitioned surplus power including the power available against the declared capacity of the unit under shut down, in the power exchange, subject to the limitation of ramping and start up capability as specified by the Appropriate Commission: Provided that if the power so offered by the generating company is not cleared in Day-Ahead Market, it shall be offered in other market segments, including the Real Time Market, in the power exchange: Provided further that such offer of power, in the market shall be at a price not exceeding 120 per cent of its energy charge, as determined or adopted by the Appropriate Commission or calculated under the directions, issued by the Central Government, under section 11 of the Act, if applicable, plus applicable transmission charges: Provided also that if the generating company fails to offer such un-requisitioned surplus power in the power exchange, the un-requisitioned surplus power to the extent not offered in the power exchange up to the declared capacity shall not be considered as available for the payment of fixed charges.” sub-rule shall be substituted.
•After sub-rule (5) of rule 9, “(6) Within fifteen days of commencement of the Electricity (Late Payment Surcharge and Related Matters) (Amendment) Rules, 2024, the National Load Despatch Centre shall issue a detailed procedure to implement the provisions of the sub-rule (1) of this rule." sub- rule shall be inserted.
[Notification No. G.S.R. 146(E)]
