The Maharashtra Government has decided to take opinion from the Central Vigilance Commission or Comptroller and Auditor General, regarding the proposed tariff hikes of the Ultra Mega Power Projects (UMPPs) by Tata Power & Adani Power.
The Central Electricity Regulatory Commission (CERC) has asked Maharashtra to respond to the report prepared by a committee approving the proposed tariff increase for UMPPs of Tata Power & Adani Power in Gujarat.
As said by the GoM, the issue at stake include preservation of a national asset without compromising the contractual obligations of the operators. Compensatory tariff needs to be resolved in a transparent manner to avoid aspersions on the state government.
Apart from Maharashtra, CERC has also asked the power distribution utilities of Gujarat, Rajasthan, Haryana and Punjab to sign the report as members of the committee.
The states would have to approach their respective cabinets before signing the report. This move could delay revision in electricity tariffs from stations run by Tata Power (4,000 mw) and Adani Power (4,620 mw) at Mundra in Gujarat.
The Parekh committee report recommended compensatory tariff of Tata Power's Mundra UMPP by 45-55 paise per unit and Adani Power's tariff by upto 60 paise per mw.
The panel, appointed by Central Electricity Regulatory Commission to suggest tariff hike for the two 4,000-mw projects of Tata Power and Adani Power, submitted its separate reports on the two projects on August 16.
The report has suggested linking the tariffs to global coal prices and the revenue generated from the coalmines that have been bought by the two companies to run the power plants.
Power regulator had in April this year allowed Tata Power and Adani Power to pass on high imported coal costs to consumers. The regulator had appointed the Parekh committee to evaluate a compensatory tariff mechanism.
Tata Power and Adani Power had sought tariff escalation for power citing increasing cost of imported coal from Indonesia since last year. Tata Power and Adani Power claimed annual loss of Rs 1,600 crore and Rs 1,370 crore respectively by running their plants.
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