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Power Purchase Agreement Punjab

April 11th, 2021 in by admin

This comes at a time of Indian solar electricity rates at a record level of 2.36 Us-Us per unit during an offer made by the state Solar Energy Corporation of India last week. Under fire for rising electricity tariffs in October 2017, the ruling party congress accused the SAD-BJP coalition of 10 years of dominance for putting the energy sector in “chaos.” In the run-up to the 2017 parliamentary elections in Punjab, the Congress Party promised in its manifesto to review AAEs in order to reduce electricity prices. The party`s MLAs and ministers lobbied the government to renegotiate tariffs with private companies. The development comes amid investor criticism over Andhra Pradesh`s chief attempt by Minister Y.S. Jagan Mohan Reddy to renegotiate clean energy tariffs. Andhra Pradesh`s action led the central government to establish an enforcement authority to ensure that the terms of electricity supply contracts (AAEs) are met by the proposed amendment to the Electricity Act 2003. The party threatened to “gherao” the residence of Punjab`s chief minister, Amarinder Singh, on 7 January in “gherao” if the government did not lower the increase in electricity quotas. These agreements were designed to guarantee a subsidy of 65,000 million euros to these electricity operators as fixed royalties for 25 years, paid by the people of Punjab,” the letter from the head of Congress states. In the document, the AAP stated that the ruling Congress had failed to keep its election promise to end agreements with private thermal power plants after the formation of the government. The issue of power purhase agreements (PPAs) was addressed by Congress.

The party had promised to terminate the treaties after being in power. But the promises have not been kept on demand that there is no legal way to do so. Since July 1, Punjab State Power Corporation Ltd (PSPCL), which supplies electricity to the state, has sought a rebate from solar electricity developers, due to low interest rates and a financial crisis exacerbated by the coronavirus pandemic, reported Monday. He added that private power plants had invested 25,000 million euros in the state, but “in five years we have completed the payment of 12,967 kronor. Just for the installation of Nabha, which was set up at a total price of Rs 10,000 crore, we paid until today 6,789.11 kronor. The clause stating that we did not need to buy a 100% electricity source was removed from the PPPs. It also submitted that the AAEs that the energy supplier PSPCL had signed with private companies during the sad-BJP plan to purchase energy at a “higher” rate were one of the main reasons for the current increase in electricity rates.

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