A. Electricity Act, 2003 (No.36 of 2003), Section 61(d) – Supply of power/ electricity -- Annual fixed charges -- Mandate under Section 61(d) of the 2003 Act, is that in the determination of tariff recovery of the cost of electricity in a reasonable manner is to be ensured -- Respondent, having supplied continuous power, cannot be denied the annual fixed charges for the relevant period, and if it were done so, they will permanently lose that amount, which will be unjust and contrary to law.

(Para 31)

B. Electricity Act, 2003 (No.36 of 2003), Section 61(d) – State Regulations -- Power Purchase Agreement/ PPA – Argument that the State Regulations came only after the amended PPA is not appealing – Central Regulations operate as guiding factors under Regulation 4 of the State Regulations and in any event when the State Regulations came into force on 03.08.2005, the PPA can only be read in a manner as to be aligned with the State regulations – That is the mandate of the law – Power Purchase Agreement/ PPA can only be read in manner as to be aligned with State Regulations.

(Para 33)