Latest news with #ElectricityAct
Time of India
6 hours ago
- Business
- Time of India
Power volumes up 14.9% in Q1; profit rises 25% to ₹120.7 crore
New Delhi: Electricity volumes traded at the Indian Energy Exchange (IEX) volumes traded in the first quarter of FY26 rose 14.9per cent year-on-year to 32.4 billion units (BUs), while consolidated profit after tax increased by 25.2per cent to ₹120.7 crore, the company said in its Q1 results released on July 24. Revenue during the quarter stood at ₹184.2 crore, up 19.2per cent compared to ₹154.5 crore in the corresponding quarter of FY25. Standalone profit after tax rose to ₹113 crore, up 21per cent from ₹93.4 crore in Q1FY25. The company reported that 52.7 lakh Renewable Energy Certificates (RECs) were traded in Q1FY26, marking a 149.3per cent increase over the previous year. Summer power demand peaks at 242 GW India's peak summer power demand in 2025 reached 242 GW on June 12. To manage this demand, the Ministry of Power invoked Section 11 of the Electricity Act, requiring imported coal-based power plants to operate at full capacity until June-end. The government also activated gas-based plants and ensured sufficient domestic coal supply to avert shortages. Despite forecasts projecting a peak demand of 277 GW, early monsoon and unseasonal rains kept temperatures low. As a result, electricity consumption for Q1FY26 was recorded at 446 BUs, down 1.3per cent from Q1FY25. Fuel supply steady; coal production at 247 MT Coal production during the first quarter stood at 247 million tonnes (MT), nearly the same as the year-ago period. Coal inventories in mid-July stood at 25 days' worth of supply, ensuring stable fuel availability for power generation. Increased availability from hydro, wind and coal-based generation contributed to higher liquidity on power exchanges. Day-Ahead Market (DAM) supply increased by 45.2per cent year-on-year. As a result, the average DAM price dropped nearly 16per cent to ₹4.41/unit, while the Real-Time Market price fell 20per cent to ₹3.91/unit. Gas market sees 109per cent volume growth Indian Gas Exchange (IGX) posted a 109per cent growth in traded volumes in Q1FY26, touching 24.6 million MMBtu, driven by increased demand from oil marketing companies and city gas distributors. IGX posted a PAT of ₹14.1 crore for the quarter, up 86.7per cent from ₹7.6 crore in Q1FY25. 44 lakh I-RECs issued by ICX in Q1 The International Carbon Exchange (ICX), a wholly owned subsidiary of the company, issued over 44 lakh International Renewable Energy Certificates (I-RECs) in Q1FY26, compared to 59 lakh for the full previous fiscal. ICX earned ₹178.8 lakh in revenue during the quarter. I-RECs are digital certificates representing the generation of 1 MWh of energy from renewable sources.
Hindustan Times
14 hours ago
- Business
- Hindustan Times
Wrongly charged meter rental: Chandigarh power dept, CPDL put on notice for not issuing refund
The Joint Electricity Regulatory Commission (JERC) has issued a show-cause notice to both the UT electricity department and the Chandigarh Power Distribution Limited for not refunding wrongly charged meter rental for 16 months. The matter was brought to the commission's notice by members of the Indian Citizens Forum (ICF). (HT photo for representation) The commission directed both the agencies to submit their reply within two weeks, showing cause why action should not be taken against them under Sector 142 of the Electricity Act, 2003. In the absence of replies, suo motu proceedings will be initiated against them. The matter was brought to the commission's notice by members of the Indian Citizens Forum (ICF), alleging wrongly charged meter rental from consumers of all categories in Chandigarh for 16 months by the Chandigarh electricity department (CED), renamed as Chandigarh Power Distribution Limited (CPDL) after privatisation from February 1, 2025. The JERC stated that the orders passed by the Consumers Grievances Redressal Forum (CGRF), Chandigarh, against a complaint was upheld by the Ombudsman on April 16, 2025, to the extent that CED and CPDL should make efforts to refund the meter-rental charges from consumers, along with interest. The commission stated that there had already been a delay of almost four months that consumers had not been refunded their legitimate amount, along with admissible interest. Any further delay will be viewed seriously and it will amount to contempt, it added. ICF president SK Nayar and secretary Narinder Sharma met CPDL director Arun Kumar Verma and general manager MP Singh to discuss the issue. Verma reportedly assured the delegation of immediate refund through bills, as soon as they get the list of consumers from CED.
Indian Express
a day ago
- Business
- Indian Express
JERC pulls up CPDL, CED over delay in refunding excess meter rentals
The Joint Electricity Regulatory Commission (JERC) has issued a show-cause notice to the Chandigarh Power Distribution Limited (CPDL) and the Chandigarh Electricity Department (CED) for failing to implement orders directing the refund of wrongly charged meter rentals to city consumers. The notice, dated July 17, 2025, warns that unless both agencies reply within two weeks, JERC will initiate proceedings under Section 142 of the Electricity Act, 2003. It follows repeated reminders by the Electricity Ombudsman, who upheld a Consumer Grievances Redressal Forum (CGRF) order on April 16, 2025, in favour of the Indian Citizens Forum (ICF). The ombudsman had directed CED and CPDL to refund excess meter rentals collected over 16 months with interest at the base rate of the State Bank of India, correct all bills within 15 days, and pay consumers Rs 100 per day for delays beyond the stipulated period. It also required the agencies to submit a compliance report within 30 days. Despite the order, refunds have not yet reached consumers, a delay of nearly four months that the ombudsman warned could amount to contempt. The ICF delegation, led by president S K Nayar and secretary Narinder Sharma, met CPDL director Arun Kumar Verma and general manager M P Singh on Wednesday, pressing for immediate refunds. Verma assured the forum that CPDL would process refunds through upcoming bills as soon as it receives the final list of affected consumers from CED. The ICF leaders said they would continue to monitor the issue. 'Consumers cannot be made to wait endlessly for what is rightfully theirs,' Nayar said, adding that further delays would leave the regulator with 'no option but to act'.
Time of India
a day ago
- Business
- Time of India
SC upholds GST exemption for electricity regulators, dismisses govt's plea
In a big relief to the regulatory bodies, the Supreme Court has upheld the Delhi High Court 's ruling that fees collected by the Central Electricity Regulatory Commission ( CERC ) and the Delhi Electricity Regulatory Commission ( DERC ) for the supply of electricity or grant of electricity distribution licences or as annual/other fees are exempt from Goods and Services Tax (GST). The HC had in January also quashed the show cause notices (SCNs) issued by the Directorate General of GST Intelligence demanding an 18% tax on fees received by CERC and DERC for discharging their regulatory functions. It held that the demand notices were 'arbitrary and unsustainable.' 'We do not find any good grounds to entertain these special leave petitions (by Directorate General of GST Intelligence), a SC bench comprising Justices J.B. Pardiwala and R. Mahadevan said, while endorsing the HC's view that the GST department had clearly failed to grasp the "indubitable fact" that these regulatory functions were being discharged by a quasi-judicial body which had all the trappings of a tribunal. The department had challenged the HC order alleging that the power regulators were not discharging their GST liabilities on amounts received as tariff and licence fees from various power utilities as these functions of the regulators fell under the category of "support services" to electricity transmission and distribution service providers. The GST authorities in the SCN's had also alleged that CERC had even failed to carry out a correct self-assessment of its tax liability, thus failing to discharge its integrated GST of Rs 113 crore between April 2019 to March 2023. A similar notice was issued to the Delhi power regulator. However, the HC had rejected the GST authorities' stand, saying it found 'unable to accept, affirm, or even fathom the conclusion that regulation of tariff, inter-state transmission of electricity, or the issuance of licence would be liable to be construed as activities undertaken or functions discharged in the furtherance of business." According to HC, "the grant of a licence to transmit or distribute (electricity) is clearly not in furtherance of business or trade but in extension of the statutory obligation placed upon a commission to regulate those subjects," the high court had said. The Electricity Act, 2003, makes no distinction between the regulatory and adjudicatory functions vested in and conferred upon an electricity commission, it had added. Those functions are placed in the hands of a quasi-judicial body enjoined to regulate and administer electricity distribution, it had said. "Electricity, undoubtedly, is a natural resource which vests in the State. We have thus no hesitation in observing that the SCNs (show cause notices) infringe the borders of the incredible and inconceivable," the January order stated.
Time of India
a day ago
- Business
- Time of India
SC upholds GST exemption for electricity regulators, dismisses govt's plea
In a significant win for regulatory bodies, the Supreme Court has upheld the Delhi High Court's decision, exempting the fees collected by the CERC and DERC from GST. This ruling dismisses demands for an 18% tax on regulatory fees, affirming that these bodies perform quasi-judicial functions, not support services. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads In a big relief to the regulatory bodies, the Supreme Court has upheld the Delhi High Court 's ruling that fees collected by the Central Electricity Regulatory Commission ( CERC ) and the Delhi Electricity Regulatory Commission ( DERC ) for the supply of electricity or grant of electricity distribution licences or as annual/other fees are exempt from Goods and Services Tax (GST).The HC had in January also quashed the show cause notices (SCNs) issued by the Directorate General of GST Intelligence demanding an 18% tax on fees received by CERC and DERC for discharging their regulatory functions. It held that the demand notices were 'arbitrary and unsustainable.''We do not find any good grounds to entertain these special leave petitions (by Directorate General of GST Intelligence), a SC bench comprising Justices J.B. Pardiwala and R. Mahadevan said, while endorsing the HC's view that the GST department had clearly failed to grasp the "indubitable fact" that these regulatory functions were being discharged by a quasi-judicial body which had all the trappings of a department had challenged the HC order alleging that the power regulators were not discharging their GST liabilities on amounts received as tariff and licence fees from various power utilities as these functions of the regulators fell under the category of "support services" to electricity transmission and distribution service GST authorities in the SCN's had also alleged that CERC had even failed to carry out a correct self-assessment of its tax liability, thus failing to discharge its integrated GST of Rs 113 crore between April 2019 to March 2023. A similar notice was issued to the Delhi power the HC had rejected the GST authorities' stand, saying it found 'unable to accept, affirm, or even fathom the conclusion that regulation of tariff, inter-state transmission of electricity, or the issuance of licence would be liable to be construed as activities undertaken or functions discharged in the furtherance of business."According to HC, "the grant of a licence to transmit or distribute (electricity) is clearly not in furtherance of business or trade but in extension of the statutory obligation placed upon a commission to regulate those subjects," the high court had said. The Electricity Act, 2003, makes no distinction between the regulatory and adjudicatory functions vested in and conferred upon an electricity commission, it had added. Those functions are placed in the hands of a quasi-judicial body enjoined to regulate and administer electricity distribution, it had said. "Electricity, undoubtedly, is a natural resource which vests in the State. We have thus no hesitation in observing that the SCNs (show cause notices) infringe the borders of the incredible and inconceivable," the January order stated.
