(1) For the purposes of procurement, transmission and supply of electricity, a Company by the name of the Uttar Pradesh Power Corporation Limited shall be formed and registered under the Companies Act, 1956 as soon as may be after the commencement of this Act by the State Government.
(2) The Power Corporation shall undertake planning and coordination in regard to transmission and shall determine the Commission, the Regional Electricity board, the Central Electricity Regulatory Commission and the Central Electricity Authority.
(3) The Power Corporation shall,
     (a) be provisional licensee for transmission and supply of electricity with in the state until the grant of licence by the commission;
     (b) be responsible for transmission system operations ;
     (c) be the legal successor of the Board in relation to all power purchase and transmission agreement entered into by the Board with generating and transmission companies including those owned or controlled by the Central Government ; and
     (d) undertake such other functions as may be required under the license.
(4) Upon the grant of licence to it under section 15, the Power Corporation shall have such powers and discharge such duties and perform such functions of the Board under the Indian Electricity Act, 1910 and the Electricity (Supply) Act, 1948 or the rules made thereunder as may be specified by the commission in the licence.
(5) the Commission may, in consultation with the Power corporation grant licence also to a company subsidiary to the Power Corporation