Fuel price adjustment: Regulator imposes Rs1m fine on CPPA

ISLAMABAD:

National Electric Power Regulatory Authority (Nepra), for the first time, has slapped a fine of Rs1 million on the Central Power Purchasing Agency (CPPA) after the latter failed to provide necessary information on time for monthly fuel price adjustments.

The regulator has imposed the penalty under Rule 6 of Nepra (Fines) Rules 2002 after rejecting the CPPA’s response to a show-cause notice and providing it an opportunity for hearing, according to a statement issued by Nepra on Monday.

In line with relevant rules, Nepra is required to make fuel price adjustment every month within a period of seven days and the CPPA must submit required details for holding a hearing in this regard.

Nepra said it had time and again issued instructions to the CPPA to submit the information about fuel price adjustment by the third of every month. Despite that, the CPPA did not submit the data within the timeframe and violated the directives.

Published in The Express Tribune, February 2^nd, 2016.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.