Power regulator, Central Electricity Regulatory Commission (CERC) has approved a proposal of Power Grid Corporation of India Limited (PGCIL) for incorporation of a wholly owned subsidiary company to undertake telecom and digital technology businesses.
In an order issued on July 10, 2021, CERC approving the formation of a wholly owned subsidiary company PGCIL said that such a wholly-owned subsidiary company by the petitioner licensee shall not be a transmission licensee or a deemed transmission licensee.
Besides, it added that PGCIL shall indemnify all the long-term transmission customers for any additional cost or losses or damages caused due to creation of the subsidiary company; and it shall maintain the accounts of the wholly-owned subsidiary company separately.
