(1) The Grid Corporation of Orissa Limited incorporated under the provisions of the Companies Act, 1956 with effect from the 20th day of April, 1995 with the main objects of engaging in the business of procurement, transmission and bulk supply of electric energy, shall subject to the powers of the State Government under Section 12, be the principal company to undertake planning and coordination in regard to transmission and to determine the electricity requirements in the State in coordination with the Generating Companies, State-Government, contiguous States, the Commission, the Regional Electricity Board and the Central Electricity Authority.
(2) Gridco shall own the extra high voltage transmission system, shall be responsible for transmission system operations and shall operate the power system in an efficient manner.
(3) Gridco shall undertake the functions specified in this Section and such other functions as may be required under the licence to be granted to it by the Commission under this Act.
(4) Upon the grant of licence to Gridco under Section 15, Gridco shall discharge such powers, duties and functions of the Board including those under the Indian Electricity Act, 1910 and the Electricity (Supply) Act, 1948 or the rules framed thereunder as the Commission may specify in the licence and it shall undertake and duly discharge the powers, duties and functions so assigned.
(5) Subject to Sub-section (1) and the overall supervision and control of Gridco, subsidiary or associated Grid companies may be established in the State and the Commission may grant licenses under the terms of this Act to such grid companies, in consultation with Gridco.
CHAPTER-VI Licensing of Transmission and Supply