Power tariff regulator stays Andhra Pradesh’s decision to slash Greenko’s PPA

  • Greenko had appealed against AP’s decision to slash tariff from Rs3.74 per kWh to Rs2.44 per kWh retrospectively from Oct. 27, 2017
  • Aptel directs AP’s power distribution utility to continue making payments to Greenko at the earlier rate of Rs3.74 per kWh

Tanya Thomas
Updated18 Jul 2019
Greenko founder and president Mahesh Kolli (left) and CEO Anil Kumar Chalamalasetty.
Greenko founder and president Mahesh Kolli (left) and CEO Anil Kumar Chalamalasetty.(Mint)

The Andhra Pradesh government’s decision to renegotiate power purchase agreements (PPAs) with several independent power developers has been stayed by the Appellate Tribunal for Electricity (Aptel) in a decision taken on Wednesday.

The appeal had been made by a subsidiary of renewable energy company Greenko when the Andhra Pradesh power distribution utility decided to slash Greenko’s tariff from 3.74 per kWh to 2.44 per kWh retrospectively from October 27, 2017. The Aptel directed the discom to continue making payments to Greenko at the earlier rate of Rs3.74 per kWh. The case will be heard again on August 26.

After coming to power, the Jaganmohan Reddy-led Andhra Pradesh government decided to examine existing PPAs with high tariffs, to scrap the 960MW Polavaram hydroelectric power plant and to cancel an energy storage proposal for which its predecessor had invited expressions of interest. Mint had earlier reported on the 19 June discussions by the Andhra Pradesh Power Coordination Committee. The state government has attributed the high-cost wind and solar power PPAs to the large power purchase dues from the discoms to the power generators, and thus has recommended reviewing them and to negotiate and bring down the prices of wind and solar power PPAs. However, the central government is attempting to steer the state away from this decision, saying states cannot cancel PPAs unless there is clear evidence of corruption.


Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreLess
HomeIndustryEnergyPower tariff regulator stays Andhra Pradesh’s decision to slash Greenko’s PPA

Most Active Stocks

Bharat Electronics

274.10
10:26 AM | 21 MAY 2024
15.25 (5.89%)

Tata Steel

174.30
10:29 AM | 21 MAY 2024
6.4 (3.81%)

Indian Oil Corporation

166.90
10:27 AM | 21 MAY 2024
1.95 (1.18%)

GAIL India

204.20
10:27 AM | 21 MAY 2024
-4.55 (-2.18%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

SJVN

148.15
10:27 AM | 21 MAY 2024
13.4 (9.94%)

Balkrishna Industries

3,051.90
10:10 AM | 21 MAY 2024
252.95 (9.04%)

Vedanta

491.45
10:27 AM | 21 MAY 2024
32.9 (7.17%)

Adani Power

680.25
10:29 AM | 21 MAY 2024
45.5 (7.17%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    74,557.000.00
    Chennai
    74,997.000.00
    Delhi
    75,071.000.00
    Kolkata
    75,511.000.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    99.84/L0.00
    Chennai
    100.88/L0.00
    Kolkata
    103.94/L0.00
    New Delhi
    94.72/L0.00
    HomeMarketsPremiumFor youGet App