The Odisha G a z e t t e
EXTRAORDINARY
PUBLISHED BY AUTHORITY
No. 410 CUTTACK, MONDAY, FEBRUARY 26, 2024/FALGUNA 7, 1945
ODISHA ELECTRICITY REGULATORY COMMISSION
BUDYUT NIYAMAK BHAWAN, PLOT NO.-4, CHUNOKOLI,
SHAILASHREE VIHAR, BHUBANESWAR - 751021
E-mail: [email protected], Website: www.orierc.org
NOTIFICATION
The 22nd January 2024
No. 85(cid:326)OERC-Engg-92/2003 (Vol. VIII)(cid:326)In exercise of powers conferred on it under Section 50 read with Section 181(2)(t),(v),(w) & (x) read with Part-VI of the Electricity Act, 2003 (Act 36 of 2003) and all other powers enabling it in this behalf, the Odisha Electricity Regulatory Commission had framed OERC Distribution (Conditions of Supply) Code, 2019 which were published in the Odisha Gazette extraordinary No.1927 dt. 11th October, 2019.
In the meanwhile, it has been observed that there is incongruity in the definition of "Bank Rate" between Odisha Electricity Regulatory Commission Distribution (Conditions of Supply) Code, 2019 and Odisha Electricity Regulatory Commission (Terms and Conditions for Determination of Wheeling Tariff and Retail Supply Tariff) Regulations, 2022. To avert anomaly in the matter of actual meaning and implications of the provisions contained in existing Regulation 57 (i) and 57 (ii) of Odisha Electricity Regulatory Commission Distribution (Conditions of Supply) Code, 2019, amendment was proposed to be effected to Regulation 57.
The Commission after obtaining objections/ suggestions on draft Regulation under Section 181(3) of the Electricity Act, 2003, hereby notifies the following amendments to Regulation 57 of OERC Distribution (Conditions of Supply) Code, 2019 for information of general public:
1. Short title and commencement
2 2 2. Amendment to Regulation 57The existing Regulation 57 shall be replaced and shall be read as stated hereinafter:
(i) The Licensee/Supplier shall pay interest on security deposit to the consumer, at the bank rate as on 1st April of the relevant year declared by the Reserve Bank of India:
Provided that the Commission in its tariff order for the respective financial year may direct the Licensee/Supplier to pay a higher rate of interest.
(ii) The interest accruing to the credit of the consumer shall be adjusted annually in the amounts outstanding from the consumer to the Licensee/Supplier as on 1st May of every year and the amounts becoming due from the consumer to the Licensee/Supplier immediately thereafter.
(iii) The Licensee/Supplier shall duly show the amounts becoming due to consumer towards interest on the security deposit in the bills raised on the consumer.
(iv) The Licensee/Supplier shall pay interest at twice the rate specified under Sub- Regulation (i) above for the delay in making the adjustments for interest on security deposit.
By order of the Commission