JSERC reduces LPS to 12 per cent per annum

The Jharkhand State Electricity Regulatory Commission (JSERC) has directed to reduce the rate of late payment surcharge (LPS) to 12 per cent per annum.

JSERC has relaxed provisions of the JSERC (terms and conditions for Determination of Generation Tariff) Regulations, 2015 and Regulation 14.4 of JSERC (Terms and Conditions for Determination of Transmission Tariff) Regulations, 2015 and directed to reduce the rate of LPS) to 12 per cent per annum that translates into 1 per cent per month, for such payments which become delayed beyond the due date for the period from March 24, 2020 till June 30, 2020, payable by distribution companies, to the generation and transmission companies.

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