Section 24(2) in The U.P. Electricity Reforms Act, 1999
(2)Save as provided in sub-section (3), the Commission may specify in regulations the terms and conditions for the determination of the revenue and tariffs and. in doing so. the Commission shall be guided by the following, namely :-(a)the financial principles and their application provided in Sections 46, 57 and 57-A of the Electricity (Supply) Act, 1948 and in the Sixth Schedule thereto;(b)the factors which would encourage efficiency, economical use of the resources, good performance, optimum investments, observance of the conditions of the licence and other matters which the Commission may consider appropriate for the purposes of this Act; and(c)the interest of the consumers;
