29. LATE PAYMENT SURCHARGE
29. I In case the payment of any bill for charges payable under this Regulation is delayed by a beneficiary/ intra-state entity beyond a period of 45 days from the date of billing, a late payment surcharge at the base rate for the period for the first month of default on outstanding amount, shall be levied by the generating company or the STU/transmission licensee or the SLDC/ system operator. At the time of true-up, the late payment surcharge paid received by the beneficiary/licensee shall not be considered as an expense/ revenue, as the case maybe.
Late Payment Surcharge from retail consumers shall be recoverable as per the relevant provisions of applicable Tariff Order.
452 (12) The rate of Late Payment Surcharge for the successive months of default shall increase by 0.5 percent for every month of delay, provided that the Late Payment Surcharge shall not be more than three percent higher than the base rate at any time.
Provided that the rate, at which Late Payment Surcharge shall be payable, shall not be higher than the rate of Late Payment Surcharge specified in the agreement, if any.
Provided further that unless otherwise notified by the competent Government under the rule making powers conferred by the Act for the state-owned generating stations, the payment security mechanism shall be as decided by the State Government and till such mechanism is decided by the State Government, unless otherwise directed to, the state-owned generating stations shall not regulate power supply to the State Distribution Company.
29 .2 All payments by a Distribution Licensee to a Generating Company for power procured from it or by a user of a transmission system to a Transmission Licensee shall be first adjusted towards Late Payment Surcharge and thereafter, towards monthly charges, starting from the longest overdue bill.
29 .3 In case the Distribution Licensee has communicated, in writing, to the Generating Company or Transmission Licensee, as the case may be, the outstanding dues and number of installments in which, the outstanding dues would be paid, within thirty days of the notification of the Late Payment Surcharge Rules, 2022, the following conditions shall be applicable:
Provided that the Distribution Licensee may make payment in a month more than the equated monthly installment for the month;
Provided that the payment of installment shall be done to all the concerned Generating Companies and Transmission Licensees, as the case may be, on pro-rata basis, depending upon the proportion of their individual outstanding dues.
29 .4 Notwithstanding anything contained in Regulation 29 .1, if the Distribution Licensee agrees to payment of the arrears dues as per the installment fixed under the Late Payment Surcharge Rules, 2022 (LPS Rules 2022), and makes timely payment of these. installments, then the Late Payment Surcharge shall not be payable on the outstanding dues.
29.5 In case of delay in payment of an installment under Regulation 29.1, Late Payment surcharge shall be payable on the entire outstanding dues as on the date of notification of the LPS Rules, 2022.
29.6 All the bills payable by a Distribution Licensee to a Generating Company or a Transmission Company shall be time tagged with respect to the date and time of submission of the bill and the payment made by the Distribution Licensee shall be adjusted first against the oldest bill and then to the second oldest bill and so on, so as to ensure that payment against a bill is not adjusted unless and until all bills older than it have been paid for:
Provided that any adjustment towards Late Payment Surcharge shall be done in the manner as specified in Regulation 29.2.
29. 7 The provisions and methodologies not specified in the Regulation shall be in accordance to LPS Rules 2022. · 452 (13) Further, if the Central Government or the State Government amend the prevailing rule or makes any new rule under the Section 176 or Section 180, as the case may be, of the Electricity Act 2003 related to late payment surcharge, to the extent, scope and applicability prescribed under such rules, notwithstanding the provisions of the regulations, the provisions of such rule shall prevail.