New Delhi: The Supreme Court on Thursday dismissed an special petition by MP Power Trading Co. Ltd, which said that Hyderabad-based Lanco Amarkantak Power Pvt. Ltd arbitrarily terminated its contract to supply electricity to Madhya Pradesh.
MP Power wants supply from the 300MW Amarkantak Unit 1 at regulated tariffs, while Lanco’s position is that it is under no obligation to supply to MP Power at regulated rates.
The apex court while dismissing the petition suggested both parties enter into mediation to settle the dispute.
According to the petition, Lanco was forcing consumers to buy costly power at Rs10 per unit against Rs2.20 per unit as required under the power purchase agreement.