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Power regulators for policy corrections to lower tariffs
The report on ‘Analysis on factors impacting retail tariff’ suggested appointing a coal regulator to stem inefficiencies in the sector.
Synopsis
A report by Forum of Regulators, which consists of all electricity regulatory bodies in the country, has made many suggestions, including regulating returns on equity for railways and lowering the return on equity allowed to regulated power projects to 14% in view of low interest rates, to bring down electricity tariffs.
Electricity regulators have highlighted “irrationalities” in the government policies governing the country’s power sector and suggested some corrections that, according to them, can substantially reduce consumer tariffs.
Policy Amendments ),
which come into effect on January 1, 2021, include the
following:
removal of the 24-month deadline for completing a Qualifying
Transaction (as defined below);
lower distribution requirements;
reduced limitations on directors and officers of CPCs; and
transitional provisions allowing issuers at different stages of
the CPC process to take advantage of the Policy Amendments.
The Policy Amendments are intended to: (i) enhance flexibility
by relaxing jurisdictional, residency and spending restrictions;
(ii) reduce regulatory burden by easing shareholder distribution
and shareholder approval requirements; and (iii) bolster the
economics of CPC vehicles by, among other things, reducing seed
capital restrictions, introducing greater incentives for agents,