JSW Energy Subsidiary Wins Appeal on Interest Claim

JSW Hydro Energy Limited, a material step-down subsidiary of JSW Energy Ltd, has won a significant appeal at the Appellate Tribunal for Electricity (APTEL). The tribunal set aside a Central Electricity Regulatory Commission (CERC) order that disallowed the claim for notional interest during construction on equity exceeding 30%. APTEL has allowed the Interest During Construction (IDC) claim and ruled that carrying cost should be reckoned from the filing date of the true-up petition. The matter has been remanded to CERC for a prudence check of the data related to the additional IDC.