APTEL: PPA Terms on Late Payment Surcharge Prevail Over Later Tariff Regulations, UPERC Order Set Aside
Pranav B Prem The Appellate Tribunal for Electricity (APTEL), single-member bench of Virender Bhat (Judicial Member), has held that the contractual terms under a Power Purchase Agreement (PPA) remain binding on the parties throughout its tenure, unless expressly overridden by subsequent regulations. The Tribunal set aside the Uttar Pradesh Electricity Regulatory Commission’s (UPE...