DPC climbs down to resolve impasse
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29/03/2001
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Financial Express (New Delhi)
The Dabhol Power Company (DPC), which has come under severe attack for its mindboggling tariff, on Thursday offered to amend the power purchase agreement with the loss-making Maharashtra State Electricity Board (MSEB), keep the Dabhol phase-II idle for six months or a year, relax the take-or-pay condition, cut the internal rate of return and above all defer the recovery of power purchase bill to resolve the "current impasse".