InfoAlert on Proposed Power Market Regulations, 2020

Published On: 14/08/2020

Authors:

The Central Electricity Regulatory Commission (“CERC”) in the exercise of its powers conferred under Section 66 read with Section 178 of the Electricity Act, 2003 ("Electricity Act") and under the National Electricity Policy, issued the draft CERC (Power Market) Regulations, 2020 (“Power Market Regulations”) through a notification dated 18 July 2020. The applicability of the proposed Power Market Regulations extends to Power Exchanges, Market Participants other than Power Exchanges, and Over the Counter (“OTC”) Market. These Power Market Regulations are also applicable to contracts transacted on the Power Exchange, contracts relating to renewable energy certificates, contracts relating to energy saving certificates, contracts in the OTC market, and any other contracts/products, as may be approved by the appropriate commission. INDUSLAW’s Kush Saggi and Aastha Bajaj discuss the key aspects of the regulations.