Section 133(2) in The U.P. Electricity Regulatory Commission (Conduct of Business) Regulations, 2004
(2)Unless otherwise specified by the Commission, the terms and conditions of the determination of the licensee's revenue and tariff shall include:(a)that the tariff allowed and the licensee's revenue permitted in any financial year in terms of Section 62 of the Electricity Act, 2003 shall be subject to adjustments in any tariff to be fixed for the subsequent tariff period if the Commission is satisfied for reasons to be recorded in writing that such adjustments for the excess amount or shortfall in the amount, actually realised is necessary, and the Commission is further satisfied that the same is not on account of any reason attributable to the licensee.
