JUDGMENT :

B.R. GAVAI, J.

1. The present appeal filed by the appellants - Distribution Companies (hereinafter referred to as “the appellants DISCOMS”) challenges the judgment and order dated 7th January, 2020, passed by the Appellate Tribunal for Electricity, New Delhi (hereinafter referred to as “the APTEL”) in Appeal No. 41 of 2018, thereby allowing the appeal filed by the respondent No.1 - M/s Hinduja National Power Corporation Limited (hereinafter referred to as “HNPCL”). By the impugned judgment and order, the APTEL has directed the Andhra Pradesh Electricity Regulatory Commission (hereinafter referred to as “the State Commission”) to dispose of O.P. No.21 of 2015 filed by HNPCL for determination of capital cost and O.P. No.19 of 2016 filed by the appellants - DISCOMS for approval of amended and restated Power Purchase Agreement (hereinafter referred to as “PPA”) (Continuation Agreement) on merits.

2. The facts, in brief, giving rise to the present appeal are as under:

3. The erstwhile Andhra Pradesh State Electricity Board (hereinafter referred to as “APSEB”) entered into a Memorandum of Understanding (hereinafter referred to as “MoU”) with HNPCL on 17th July, 1992. As per the sa