The Punjab State Electricity Regulatory Commission (PSERC), on May 18, 2026, notified the Punjab State Electricity Regulatory Commission (Harnessing of Captive Power Generation) (First Amendment) Regulations, 2026, amending the provisions relating to banking of energy under the Punjab State Electricity Regulatory Commission (Harnessing of Captive Power Generation) Regulations, 2022. The amended regulations apply to all Captive Generating Plants (CGPs) in Punjab and come into force from the date of publication in the Official Gazette.
The amendment substitutes Regulation 11 and provides that banking facilities shall be available to captive users receiving power from renewable energy-based captive generating plants connected to the intra-state transmission or distribution system, subject to execution of a banking agreement with the distribution licensee in accordance with the PSERC Open Access Regulations. The amended provision also expressly prohibits the use of banked energy for third-party sale.
Further, the regulation places an obligation on captive generating stations and captive users to comply with the captive status requirements prescribed under Rule 3 of the Electricity Rules, 2005 at the end of each financial year. Where a generating plant fails to qualify as a captive generating plant, the total banked and utilized energy will be treated as infirm power injected into the grid and accounted for under the applicable regulations, while energy drawn from the grid by the user will be charged at the tariff rates applicable to the relevant consumer category.
[Notification No. PSERC/Secy./Regu.205]
