MoP plans issuing advisory to SERCs

The Ministry of Power (MoP) is planning to issue an advisory to the regulatory commissions to not seek tariff redetermination of stressed assets that are acquired as part of the lenders’ resolution mechanism. The move is aimed at uplifting investor sentiment and helping banks resolve stressed assets expeditiously. It follows the Uttar Pradesh Electricity Regulatory Commission’s order directing Resurgent Power to lower the tariff of the 1,980 MW Prayagraj thermal plant, which was acquired from JP Power Ventures. The matter is pending at the Appellate Tribunal for Electricity.