Energy Development mutually settles dispute with KPTCL, CHESCOM

Energy Development Company Ltd has announced that the Company has mutually settled the ongoing dispute with KPTCL / CHESCOM pending before the Hon’ble High Court at Karnataka.

Accordingly, the Company has entered into a new Power Purchase Agreement with Karnataka Power Transmission Corporation Ltd (KTPCL) and Chamundeshweri Electricity Supply Corporation Ltd (CESC), Mysore, resulting into the revision in the rates of electricity. The new rates would be applicable with effect from April 01, 2003 at the rates, Base Tariff of Rs 3.32 plus 2% on this base tariff per kilowatt- hour for energy delivered to KPTCL / CESC Mysore with further escalation at a rate of 2%, simple escalation, per annum as against escalation of 5% in earlier Power Purchase Agreement.

Source : Equity Bulls

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