Case Overview
Petitioner: JSW Power Trading Company Limited (JSWPTCL)
Subject: Application for upgradation of inter-State electricity trading licence from Category III to Category II under CERC Trading Licence Regulations, 2020
Order Date: 31st August 2025
Coram: Chairperson Jishnu Barua, Members Ramesh Babu V., Harish Dudani and Ravinder Singh Dhillon
Licence History
- 2006: Granted Category ‘F’ trading licence (Petition No. 161/2005)
- 2009: Reclassified as Category I under revised regulations
- 2017–2019: Licence transferred and company renamed as JSW Green Energy Ltd., later restored to JSW Power Trading Ltd.
- 2020: Downgraded to Category IV (Petition No. 20/TD/2020)
- 2024: Upgraded to Category III (Petition No. 371/TD/2023)
Current Petition (2025)
JSWPTCL applied for Category II upgradation, citing:
- Increasing electricity demand and expanding power exchange activity
- Plans to trade up to 7,000 MUs annually
- Trading volume in FY 2024–25 exceeded 110% threshold under Regulation 9(3)
- Payment of ₹9 lakh differential licence fee (Category II vs. III) already made
Financial Position (as on 31.03.2025, Special Audited Balance Sheet)
- Net Worth: ₹1,781.3 crore (minimum required: ₹35 crore)
- Current Ratio: 2.01 (meets regulatory requirement)
- Liquidity Ratio: 2.00 (meets regulatory requirement)
CERC confirmed compliance with all net worth, current ratio and liquidity conditions for Category II trading licence.
Commission’s Decision
- Application allowed and licence upgraded from Category III to Category II with immediate effect
- Licensee remains bound by terms of earlier order dated 16.02.2024 in Petition No. 371/TD/2023
- Necessary endorsement to be made on the licence
- Copy of the order to be forwarded to the Ministry of Power and the Central Electricity Authority (CEA)
Outcome
Petition No. 668/TD/2025 has been allowed.
JSW Power Trading Company Limited is now authorised to operate as a Category II inter-State electricity trader, enabling higher trading volumes and deeper participation in India’s power market.
