{"id":127508,"date":"2021-08-20T19:22:05","date_gmt":"2021-08-20T13:52:05","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=127508"},"modified":"2021-08-21T16:35:06","modified_gmt":"2021-08-21T11:05:06","slug":"government-proposes-amendment-to-electricity-late-payment-surcharge-rules","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/government-proposes-amendment-to-electricity-late-payment-surcharge-rules\/","title":{"rendered":"Government proposes amendment to Electricity (Late Payment Surcharge) Rules"},"content":{"rendered":"<p><b>Source: <\/b><a href=\"https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=1747362\"><b>PIB<\/b><\/a><\/p>\n<h5><b>What is the News?<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">The Ministry of Power has released the draft Electricity (Late Payment Surcharge) Amendment Rules, 2021.<\/span><\/p>\n<h5><b>Purpose of the Amendment:<\/b><\/h5>\n<ul>\n<li><b>The Rules seek to amend <\/b>t<span style=\"font-weight: 400;\">he norms for facilitating electricity generators to sell power to third parties. This can help reduce fixed costs and cut retail tariffs for electricity consumers.<\/span><\/li>\n<\/ul>\n<h5><b>Key Provisions of the rules:<\/b><\/h5>\n<p><b>Late Fee Payment:<\/b><\/p>\n<ol>\n<li style=\"font-weight: 400;\"><b>If a distribution licensee has any payment,<\/b><span style=\"font-weight: 400;\"> including late payment surcharge, outstanding after the expiry of seven months from the due date as prescribed in the PPA (power purchase agreement).<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Then the generating company<\/b><span style=\"font-weight: 400;\"> may sell power to any consumer or any other licensee or power exchanges for the period of such default.<\/span><\/li>\n<\/ol>\n<h5><b>Payment Bill:<\/b><\/h5>\n<ol>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The payment shall be made by the distribution licensee first against the oldest procurement of power and then to the second-oldest procurement and so on.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">This will ensure that payment against a procurement is not made unless and until all procurement older than that has been paid for.<\/span><\/li>\n<\/ol>\n<h5><b>Time Tagged:<\/b><\/h5>\n<ol>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">All the bills payable by a distribution licensee to a generating company or a trading licensee for power procured from it or to a transmission licensee shall be time-tagged with respect to the prescribed date of payment specified in the PPA.<\/span><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Source: PIB What is the News? The Ministry of Power has released the draft Electricity (Late Payment Surcharge) Amendment Rules, 2021. Purpose of the Amendment: The Rules seek to amend the norms for facilitating electricity generators to sell power to third parties. This can help reduce fixed costs and cut retail tariffs for electricity consumers.&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/government-proposes-amendment-to-electricity-late-payment-surcharge-rules\/\">Continue reading <span class=\"screen-reader-text\">Government proposes amendment to Electricity (Late Payment Surcharge) Rules<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[8094,9206,768,4450],"class_list":["post-127508","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-8094","tag-draft-electricity-late-payment-surcharge-amendment-rules","tag-energy","tag-power-sector","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700771179,"cached_date":1704953341},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/127508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=127508"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/127508\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=127508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=127508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=127508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}