Section 33 in Central Electricity Regulatory Commission (Cross Border Trade of Electricity) Regulations, 2019
33. Payment Security Mechanism for Transmission Charges.
(1)The Cross Border Customer shall be liable to establish payment security mechanism for payment of transmission charges and various grid related charges.(2)The Cross Border Customer shall establish payment security towards transmission charges and grid related charges at least ninety (90) days prior to the intimated date of commencement of Transmission Access which shall include the following for availing long-term access and medium-term open access:(a)An irrevocable, unconditional and revolving Letter of Credit in favour of the Central Transmission Utility through a bank as specified in Regulation 35 equivalent to two point one(2.1) times the average monthly bill amount towards transmission charges with a validity of 1 year.(b)An irrevocable, unconditional and revolving Letter of Credit in favour of the Settlement Nodal Agency of India through bank as specified in Regulation 35 equivalent to two point one (2.1) times the average monthly bill amount towards grid related charges with a validity of 1 year.(3)In case of default of payment of Transmission Charges and other Grid related charges, the Cross Border Customer shall be denied access to the Indian Grid till discharge of its dues.CHAPTER-6 Miscellaneous
