The Appellate Tribunal for Electricity (APTEL) has ruled in favour of Tata Power in its appeal challenging the Maharashtra Electricity Regulatory Commission’s (MERC) 2016 Multi-Year Tariff (MYT) order, the company said in a regulatory filing.
APTEL held that MERC had incorrectly disallowed property tax as an uncontrollable operation and maintenance expense and income tax for the period FY08 to FY14, Tata Power said.
“The APTEL delivered its judgment in the appeal filed by The Tata Power Company Limited (TPCL) challenging the MERC Multi-Year Tariff (MYT) Order dated August 8, 2016. APTEL held that MERC had incorrectly Disallowed Property Tax as an Uncontrollable O&M expense and Disallowed,” Tata Power said in its exchange filing.
The tribunal has remanded the matters to MERC and directed the regulator to pass an order on the issues expeditiously.
The quantum of the claims is approximately ₹268 crore, although the final amount will be determined after completion of the remand proceedings and issuance of MERC’s order, the company said.
