National Electric Power Regulatory Authority (Resolution of Disputes between Independent Power Producers and other Licensees) Regulations, 2003

S.R.O. 858(I)/2003, dated 28.8.2003. — ln exercise of the powers conferred by section 46 and 47 of the Regulation of Generation, Transmission and Distribution of Electric Power Act, 1997 (XL of 1997) and Rule 22 of the National Electric Power Regulatory Authority Licensing (Generation) Rules, 2000 the National Electric Power Regulatory Authority hereby notifies the following regulations, namely:—

1.         Title and Commencement.— (1) These regulations may be called the  National Electric Power Regulatory Authority (Resolution of Disputes between Independent Power Producers and other Licensees) Regulations, 2003.

(2)        They shall come into force at once.

2.         Definitions.—  (1)  In these regulations, unless there is anything repugnant in the subject or context,

(i)         “Act” means the Regulation of Generation, Transmission and Distribution of Electric Power Act, 1997 (XL of 1997); and

(ii)         “Agreement” means an agreement between licensees for submission of disputes to international arbitration for resolution.

3.         Resolution of Disputes.—  Where a licensee has entered into an Agreement prior to the enactment of the Act, any dispute or disagreement between licensees relating to any matter arising out of, or in connection with, the activities covered under their respective licences may be submitted to the Authority for resolution only upon the consent of all the licensees party to the Agreement.