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ARTICLE · 01 AUGUST 2022

Projects, Energy & Infrastructure Monthly Newsletter | July 2022

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The Ministry of Power, Government of India (MOP) on June 3, 2022 notified the Electricity (Late Payment Surcharge and Related Matters) Rules, 2022 (LPSC Rules), ...

IndiaEnergy and Natural Resources
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Electricity (Late Payment Surcharge and Related Matters) Rules, 2022

  • The Ministry of Power, Government of India (MOP) on June 3, 2022 notified the Electricity (Late Payment Surcharge and Related Matters) Rules, 2022 (LPSC Rules), to bolster the provisions to recover the outstanding dues of the Distribution Companies (DISCOM).
  • LPSC Rules will be applicable to outstanding dues of Generating Companies (GENCOS), Inter-State Transmission Licensees and Electricity Trading Licensees.

Salient aspects of LPSC Rules

  • Applicability of LPSC: The LPSC Rules state that DISCOMs will be obligated to pay the late payment charges (LPS) on their outstanding amount after the Due Date at the Base Rate, applicable for the first month of default. Upon successive months of default, the rates will increase by 0.5% for every month of delay. However, capping is done which is not more than 3% higher than Base Rate and further, LPS shall not be higher than the rate of LPS

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