DEE Development Engineers Limited has informed the Exchange regarding a press release dated August 21, 2025, titled "Press release Intimation of Final Order by Punjab State Electricity Regulatory Commission (PSERC) for Tariff Re-determination of 8 MW Biomass Power Project".
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Punjab State Electricity Regulatory Commission (PSERC) has issued a final order on the company's review petition, upholding a downward revision of the tariff for its 8 MW biomass power plant in Abohar, Punjab. The new tariff has been set at ₹5.477/unit for FY2023-24, ₹5.672/unit for FY2024-25, and ₹5.877/unit for FY2025-26, down from the previous ₹7.47/unit. PSPCL may raise a retrospective recovery demand of ₹13.02 crores for power supplied between January 2024 and April 2025. The company estimates an annual revenue reduction of approximately ₹8.20 crores going forward. Management has expressed strong disappointment with the order, calling it 'legally untenable and procedurally flawed,' and plans to file an appeal before the Appellate Authority while the Board will convene to decide on further action.
Negative for shareholders — the order translates to a material revenue cut for the biomass power business plus a potential ₹13 crore retrospective claim from PSPCL. The stock may see pressure on the news, though any further downside depends on the outcome of the planned appeal.