MERC expressed its displeasure over TPCs non-compliance of its past orders in this regard. It warned that it would be left with no option but to initiate action under MERC regulations 44 and 45 if it fails to submit the tariff proposal during the stipulated time period.
TPC currently charges Rs 3.35 per unit to BrihanMumbai Electric Supply and Transport (BEST) and sells power to Reliance Energy (REL) at Rs 3.53 per unit. Recently, TPC had offered to provide power to the Maharashtra State Electricity Board (MSEB) at Rs 2.52 per unit.
During 2002-03, TPC had mobilised Rs 3,300 crore on account of its tariff charged to REL. However, RELs revenues were of the order of Rs 2,300 crore and BESTs Rs 1,622 crore for the same fiscal.
MERC chairman P Subrahmaniam told FE that such directives have been given during a hearing on separate petition involving TPC and REL. TPC would have to submit its tariff proposal for 2003-04 by October 1, he said.