The Central Electricity Regulatory Commission (CERC) has issued a consultation paper on the terms and conditions of tariff regulations for the control period from April 1, 2019 to March 31, 2024. The CERC has proposed the introduction of a three-part tariff structure to replace the existing two-part tariff structure. The proposed design seeks to introduce a variable component in addition to the fixed charge and energy charge, thus providing an incremental return above the guaranteed return and balancing operation and maintenance expenses. The variable component could be linked to the difference between availability and dispatch of electricity. The consultation paper also outlines other regulatory reforms. The CERC has invited stakeholder suggestions to be submitted by July 15, 2018.