"Since the Maharashtra Electricity Regulatory Commission (MERC) has come to a conclusion that the case of Force Majeure event is not made out, it could not have granted compensatory tariff to Adani Power Maharashtra (which runs Tiroda plant)," Appellate Tribunal of Electricity (APTEL) said in an order.
RG Gupta said much depends upon the specific conditions under which the hike was allowed by the CERC and the kind of agreement that they had entered into with the power gencos.