Section 10(4)(i) in Central Electricity Regulatory Commission (Deviation Settlement Mechanism and Related Matters) Regulations, 2014
(i)if any regional entity fails to make payment of Charges for Deviation including Additional Charges for Deviation by the time specified in these regulations during the current financial year, it shall be required to open a Letter of Credit equal to 110% of weekly outstanding liability in favour of respective Regional Load Despatch Centre within a fortnight from the due date of payment.