The Central Electricity Regulatory Commission (CERC) has allowed Tata Power to increase tariff for power generated from its 4,000 mw Mundra plant. Allowing the hike, the CERC ordered that a committee be set up to work out the price increase and decide the compensatory package. The committee is to submit its report by May 15. The Commission’s decision to permit a tariff increase will affect consumers of seven electricity distribution utilities in Gujarat, Maharashtra, Rajasthan, Punjab and Haryana.
The revised tariff will be higher than existing levelised tariff of Rs 2.26/unit. The current tariff for new power projects is in the Rs 3.50-7.00/unit range.
This is the second such decision by the CERC allowing projects fired on imported coal to increase tariffs, as fuel prices have risen. On April 2, the regulator allowed a similar hike for Adani Power’s 4,620 mw Mundra plant. Coastal Gujarat Power, the special purpose vehicle that runs Tata’s Mundra plant, petitioned the CERC that because of the rise in the Indonesian coal price, the project had become economically unviable at electricity rates decided in 2007.
This decision was an important step in resolving the impasse affecting imported coal based power projects that were taking a hit due to extraneous factors, Tata Power said. According to industry watchers, the tariff relief clears the way for Tata Power to go ahead with the second phase of the project.
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