Central Electricity Regulatory Commission (CERC) reduced the late payment surcharge levied on power distribution companies (discoms) for delayed payment to power generators and transmission companies.
The regulator passed am order on Friday lowering the surcharge to 1 per cent per month from 1.5 per cent per month for 45 days till June 30. “The generating companies whose tariff has been determined under Section 63 of the Act by this Commission, relief on the Late Payment Surcharge for payment which become delayed beyond 45 days (from the date of presentation of the bill) during the period from 24.03.2020 to 30.06.2020 may be claimed in terms of the force majeure provisions of the respective power purchase agreements (PPAs),” said the order.
It gave similar relief for the payment to be made to the transmission companies.
The Ministry of Power last week