Power firms should work for amicable solution: Aptel

Written by fe Bureau | New Delhi | Updated: Dec 19 2014, 14:30pm hrs
The Appellate Tribunal for Electricity (Aptel) said on Friday that while it will continue hearing the matter related to compensatory tariffs, which involves Tata Power, Adani Power and their procurers, the parties should work on negotiating an amicable solution.

State utilities of Gujarat, Haryana, Maharashtra, Punjab and Rajasthan have long-term power purchase agreements with the two producers. They moved Supreme Court against the tribunals interim order that partly upheld central electricity regulatory order allowing developers to recover higher cost of fuel from the procurers.

The tribunal said that it was hearing the appeal on a day-to-day basis as per the SCs direction but also suggested the the parties should find an amicable solution. ...The parties namely, Generators and Procurers, in deference to the suggestion of this tribunal expressed their readiness to have the settlement talks to find out the solution without prejudice and to their rights and contentions, it said. The parties may report about the progress of the settlement talks within 10 days.