Amendment status not verified — confirm the current text below against the official source.
(1) In case any obligated entity who is a distribution licensee fails to comply with its renewable purchase obligation as provided in these Regulations during any financial year and fails to purchase the required number of certificates, the Commission may by order, direct such obligated entity to deposit into a separate fund, to be created and maintained by such entity in accordance with the directions issued by the Commission, such amount as the Commission may determine on the basis of the shortfall in the renewable purchase obligation and the forbearance price thereof. Provided that in case of an obligated entity other than a distribution licensee, such entity shall deposit such amount in a fund to be maintained and administered by the State Agency or as may be directed by the Commission. [Provided further that; (i) the Renewable Purchase Obligation specified in Table 1, up to the financial year 2021-22 will be governed by the Kerala State Electricity Regulatory Commission (Renewable Energy and Net Metering) Regulations, 2020, as it stood prior to these amendments; (ii) for the financial years 2022-23 and 2023-24, Renewable Purchase Obligation will be governed by the Kerala State Electricity Regulatory Commission (Renewable Energy and Net Metering) (First Amendment) Regulations, 2022, as it stood prior to these amendments; and (iii) the Renewable Purchase Obligations for the financial years from 2024-25 to 2029-30 will be governed by these Regulations, as amended under Kerala State Electricity Regulatory Commission (Renewable Energy and Net Metering) (Second Amendment) Regulations, 2024.] (2) The fund so created shall be utilized in such manner as may be directed by the Commission for the purchase of Certificates or for such other purposes for promoting the renewable energy within the State. (3) The Commission may authorize the State Agency to procure, out of the amount in the fund, the required number of Certificates from the power exchange, to make good the shortfall in the renewable purchase obligation of such obligated entity. Inserted by No. 230/Con.Engg./2023/KSERC., Published in K.G.Ext. No. 2661 dt. 16/08/2024 (w.e.f. 01/04/2024).