CERC approves Tata Power's Maithon plant tariff plan

The Central Electricity Regulatory Commission (CERC) has approved the tariff petition of Tata Power for its 1,050-MW Maithon Power project in Jharkhand, the company said today.
The Commission has approved the five-year (FY11-FY14) tariff petition of Maithon Power, a joint venture between Tata Power (74 per cent) and Damodar Valley Corporation (26 per cent).
"The CERC has passed the tariff order for the 1,050-mw power plant of Maithon Power for FY11-FY14. The new tariff would be applicable from commercial operation date (COD) for each of the generating units. This will pave the way for meeting the targeted returns from the project," Tata Power said in a filing to the exchanges.

Maithon Power is the country's first 1,050-MW thermal power plants using sub-critical technology, coal-based thermal power plant and the first public private partnership venture plant.
The company had achieved financial closure for the Rs 5,500 crore project in 2008.
Shares of Tata Power today rose by 0.55 per cent to end at Rs 90.65 apiece on the BSE.