JSW Hydro Energy wins APTEL order on notional interest claim
JSW Hydro Energy Limited has won a favorable order from APTEL, which set aside a CERC order disallowing notional interest during construction on equity. APTEL allowed the IDC Claim and remanded the matter to CERC for prudence check.
The litigation pertains to tariff determination and notional interest claims, which can have a financial impact on the subsidiary's revenue and profitability. However, the exact financial implication is subject to further review by CERC.
The company has received a favorable order from the Appellate Tribunal for Electricity, which is a positive development for its subsidiary.
JSW Hydro Energy Limited (JSWHEL), a material step-down subsidiary of JSW Energy Limited, has received a favorable order from the Appellate Tribunal for Electricity (APTEL) regarding its challenge to a Central Electricity Regulatory Commission (CERC) order. The original CERC order dated March 17, 2022, had disallowed the claim for notional interest during construction on equity exceeding 30% infused during the construction period, which is referred to as the IDC Claim. This claim was part of the truing-up of tariff for the period 2014-19 and determination of tariff for the period 2019-24.
APTEL, in its order dated September 18, 2026, has set aside the CERC order and allowed the IDC Claim of JSWHEL. Furthermore, APTEL has ruled that the carrying cost on this claim will be reckoned from the date of filing the true-up petition until its eventual adjustment. The matter has been remanded back to CERC for a prudence check of the data submitted concerning the additional IDC.
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