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SUPREME COURT
Mr. Justices, J
State Electricity Board – Appellant
Versus
Karnataka Power Transmission Corporation Ltd. – Respondent
| Table of Content |
|---|
| 1. factual background of the power purchase agreements and regulatory changes. (Para 2 , 3 , 4 , 6) |
| 2. arguments regarding regulatory powers and tariff modification. (Para 9 , 10) |
| 3. observations on the applicability of regulations to existing contracts. (Para 11 , 12 , 13) |
| 4. conclusively ruling against the tribunal's order. (Para 14) |
1. Heard Mr. K. V. Viswanathan, learned Senior Counsel for the appellant and Mr.G. Umapathy for Respondent 1.
2. The appellant is a State Electricity Board. Respondent 1 had entered into a Power Purchase Agreement (PPA) with the Karnataka Power Transmission Corporation Ltd. (Kptcl) for supply of power by an agreement dated 4-4-2002. Paras 5. 1 and 5. 2 of the said agreement are relevant for our purpose, which are as under:
"5. 1. Monthly Energy Charges: Corporation shall for the delivered energy pay, for the first 10 years from the date of signing of agreement to the Company every month during the period commencing from the commercial operation date on the basis of the base price applicable for the year 1994-1995 at the rate of Rs 2. 25 (Rupees two and twenty - five paise) per kilo watt hour (the tariff) for energy delivered to the Corporat
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