Review of the Electricity Act 2003 of India
Article from: OGEL 5 (2003), in Electricity Law and Regulation
Summary
The Electricity Act 2003, which has come into force in India since mid-June 2003, consolidates and replaces a number of older laws on electricity. The Act has introduced significant changes in the industry structure by moving from a single-buyer market to a multi-buyer, multi-seller system. The regulatory regime has been made flexible, with a multi-year approach and without requiring the regulatory commissions to follow rate-of-return regulations. The Act brings clarity to the roles of different organisations and provides for better financial management of the regulatory ...