MoP issues draft LPS rules

The Ministry of Power (MoP) has issued the draft Electricity Late Pay­ment Surcharge and Related Matters Rules, 2021. The provisions under these rules include LPS, adjustment towards LPS, liquidation arrears, op­eratio­na­lising the payment security mechanism and its consequences, regulation of access to defaulting entities, supply obligation of the generating company, power not requisitioned by the distribution licensee, order of payment and adjustment towards LPS. The Electricity LPS Rules, 2021, notified on February 22, 2021 have been repealed.