IWPA contended that the provision for floor price of the RECs has been arbitrarily removed from the REC framework in the new regulations while highlighting the plight of its member renewable energy power generators, who had set up their wind power plants under the prior REC framework.
The IWPA also sought ad interim reliefs regarding the said regulations.
IWPA contended that the provision for floor price of the RECs has been arbitrarily removed from the REC framework in the new regulations while highlighting the plight of its member renewable energy power generators, who had set up their wind power plants under the prior REC framework.
As per the High Court directions, the petition was taken up on Friday considering the ad interim reliefs sought by IWPA.”After hearing the parties, the High Court disposed of the petition while directing the CERC to consider the writ petition filed by IWPA as a representation and to provide a response to IWPA on the issues raised by them within a period of six weeks, prior to notifying the said regulations,” IWPA said in a statement.
The order, IWPA said, comes as a much-needed relief to the members of the petitioner association, who would have suffered huge losses had the new regulations were to be brought into force.
The association added that the writ petition was filed by IWPA challenging the said regulations, in anticipation and fear that the next trading of RECs on the power exchange platforms does not take place under the new regime, which is not only arbitrary and contrary to the provisions of the Electricity Act, 2003, but would also lead to injury and huge losses to renewable power generators in India.
