Section 22 in The Central Electricity Regulatory Commission (Procedure, Terms & Conditions for grant of Transmission License and other related matters) Regulations, 2001
22. Operation and compliance audits.
- The licensee shall submit the necessary documents/information to the Central Transmission Utility regarding independent annual operational and compliance audit in respect of :(a)the level of performance achieved with regard to availability of transmission system, transmission losses, O&M practices, quantum of incentive/disincentive, fines and penalties, if any, levied under Electricity Laws ;and(b)compliance by the licensee with obligations under the license, IEGC, agreement; and(c)compliance by the licensee with the provisions of the Electricity Laws in force and the directions/orders etc. issued by the Commission from time to time ; and(d)financial, technical and other capability of the licensee to continue its operation under the license.
