(1) The Authority shall discharge the following functions, namely:-
(i) to aid and advise the State Government in the formulation of appropriate policy or guidelines relating to tarrif;
(ii) to conduct the public hearing regarding the approval of proposed infrastructure projects in terms of section 30.
(iii) to determine, modify or vary the tariff on the basis of the concessions granted to the concessionaires and the interest of the consumer;
(iv) to regulate the working of the concessionaire and promote efficient, economical and equitable performance, including laying down standards of performance of the concessionaire in regard to the service to the consumer;
(v) to adjudicate upon appeal preferred to it against an order passed by the Board or the State Government related to the approval of an infrastructure project or the award of a concession;
(vi) to adjudicate upon disputes inter se two or more Concessionaires, operators of infrastructure projects, the State Government and the Board; and 1[(vii) to adjudicate upon, as an Arbitrator, the disputes inter-se between two or more contractors, or a contractor/contractors on one side and a Department, Public Sector Undertaking, Board, Corporation, Society or Agency under the control of the State Government on the other side, regarding the creation, 1Added by Punjab Act No. 26 of 2017, Section 3 Functions of the Authority.
development, maintenance and operation of infrastructure related projects and for matters connected therewith or incidental thereto of the State Government under the Arbitration and Conciliation Act, 1996 (Act 26 of 1996), where the claimed amount is five crore rupees and above:]
Provided that the Authority shall not discharge any of the aforesaid functions or any other such functions in respect of which The Punjab State Electricity Regulatory Commission established under sub-section (1) of section 17 of the Electricity Regulatory Commissions Act, 1998 (Act 14 of 1998), is empowered to discharge.
(2) The Authority shall always act consistent with the objectives and purposes for which it has been established.
(3) Orders passed by the Authority in exercise of its powers under this Act, shall be final and binding on all concerned and shall be executable as a decree.