Section 126(3) in The U.P. Electricity Regulatory Commission (Conduct of Business) Regulations, 2004
(3)The licensee shall apply to the Commission to approve the draft Power Purchase Agreement that the Licensee proposes to enter into. The Commission may pass orders-(a)approving the agreement; or(b)approving the agreement with modifications proposed to the terms of the agreement including modifying the terms of tariff and power purchase; or(c)rejecting the agreement.
