CERC serves notice to NPEX for delay in starting operations
Flaying the National Power Exchange Ltdfor not starting operations on time, power sector regulator CERC has served a show cause notice to the bourse seeking explanation for the delay even after getting approval three years ago.
National Power Exchange is promoted by state-run NTPC, NHPC and PFC, andTata Consultancy Services, among others.
Central Electricity Regulatory Commission (CERC) Chairperson Pramod Deo said a show cause notice has been issued to NPEX seeking explanation for not starting its operations.
In its notice issued on February 15, the regulator has cautioned that permission could be withdrawn if NPEX does not start operations within six months.
“It is observed that even after lapse of three years, since the in principle approval for setting up and operating a power exchange was granted… there is no progress for setting up and commencement of operation of the power exchange,” the notice said.
CERC has also directed the exchange to place on record the progress made so far for setting up of the Power Exchange and definite action plan indicating the firm date of operation.
“If NPEX is no more interested to set up the power exchange, the same should be indicated with reasons so that necessary action to withdraw the permission will be taken,” it said.