In Brief
Karnataka Power Transmission Corporation Ltd. sought to challenge a High Court order that set aside tariff determinations by the Karnataka Electricity Regulatory Commission. The Supreme Court examined whether a power purchase agreement between KPTCL and JSW Energy (formerly JTPCL) concluded before the Electricity Reforms Act commenced was exempt from regulatory jurisdiction. The Court held there was no concluded contract despite Government approval of a Rs.2.60/unit tariff, as the parties contemplated a formal agreement and several material terms remained unresolved. The Court set aside the High Court's conclusion on that point and remitted other findings (regarding perversity and the plant's IPP/CPP status) for fresh consideration. It directed JSW Energy to repay Rs.50 crores pending final determination.
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