Coal news and updates

Supreme Court stays compensatory tariff for Tata Power

August 26: The Supreme Court of India, on August 25, stayed an interim order of the Appellate Tribunal for Electricity (APTEL), allowing Coastal Gujarat Power Limited (CGPL), a wholly-owned subsidiary of Tata Power to have compensatory tariff, payable after March 2014, the company said in a filing to the BSE.

The Supreme Court “has further asked APTEL to expedite the case hearings and take a final decision on the subject matter quickly,” the company statement said.

Earlier, power procurers from Tata Power sought a stay from the apex court on the interim order issued by APTEL which upheld the order of the Central Electricity Regulatory Commission (CERC), company statement added.

“As the case is already being heard by APTEL, the company would await a quick resolution of this issue through the required judicial process. The formal order of the Supreme Court is awaited,” the company statement said.