Section 3(1) in The Central Electricity Regulatory Commission (Fixation of Trading Margin) Regulations, 2010
(1)In these regulations, unless the context or subject-matter, otherwise requires,-(a) "Act" means the Electricity Act, 2003 (36 of 2003);(b)"Commission" means the Central Electricity Regulatory Commission referred to in sub-section (1) of section 76 of the Act;(c)"licensee" means the person who has been granted licence by the Commission to undertake inter-State trading in electricity;(d)"Short Term Buy-Short Term Sell contract" means a contract where the duration of the power purchase agreement and power sale agreement is less than one year;(e)"Ultimate buyer" includes a distribution licensee or a consumer.
