Indian electricity act-2003: Electricity regulatory act announced in 2003

Indian electricity act-2003 in detail is:-
Three erstwhile Acts that regulated the electricity sector:
The Indian Electricity Act, 1910
The Electricity (Supply) Act, 1948
The Electricity Regulatory Commissions Act, 1998
The Indian Electricity Act, 1910
Provided basic framework for electric supply industry in India.
Growth of the sector through private licensees.  Licence  by State Govt.
Provision for licence for supply of electricity in a specified area.
Legal framework for laying down of wires and other works.
Provisions laying down relationship between licensee and consumer.
Main amendments to the existing Acts
Amendment in 1975 to enable generation in Central sector
Amendment to bring in commercial viability in the functioning of SEBs –
Section 59 amended to make the earning of a minimum return of 3% on fixed assets a statutory requirement (w.e.f 1.4.1985)
Amendment in 1991 to open generation to private sector and establishment of RLDCs
Amendment in 1998 to provide for private sector participation in transmission, and also provision relating to Transmission Utilities.
The Electricity Regulatory Commissions Act, 1998
Provision for setting up of Central / State Electricity Regulatory Commission to with powers  to determine tariffs.
Constitution of SERC optional for States. .
Distancing of Govt from tariff determination.
State Reform Acts
Orissa (1995)
Haryana (1997)
Andhra Pradesh (1998)
Uttar Pradesh (1999)
Karnataka (1999)
Rajasthan (1999)
Delhi (2000)
Madhya Pradesh (2000)
Gujarat (2003)
Common features of State Acts
Independent Regulatory Mechanism
Constitution of SERC
Powers of tariff fixation, licensing, regulation or working of licensees,  performance standards etc. to SERC
Reorganisation of SEB
TRANSCO as successor entity
Single buyer model
Separation of generation, transmission & distribution
Powers of State Governments to give policy directions to SERCs.
Policy directions also on subsidy
State Governments to compensate licensee affected by direction regarding subsidy
Salient features of the Indian Electricity Act- 2003
Role of Government
Rural Electrification
Generation
Transmission
Distribution
Consumer Protection
Trading / Market Development
Regulatory Commission / Appellate Tribunal
Tariff Principles
CEA
Measures against Theft of electricity
Restructuring of SEBs
Role of Government in Indian electricity act-2003
Central Government to prepare National Electricity Policy and Tariff Policy.(Section 3)
Central Govt. to notify a National Policy for rural areas permitting stand alone systems based on renewal and Non-Conventional energy sources in consultation with States. (Section  4)
Central Govt. to formulate a National Policy in consultation with the concerned State Govts. for bulk purchase of power and management of local distribution through Users’ Association, Cooperatives, Franchisees and  Panchayat Institutions etc. (Section 5)
Consumer Protection
Consumer to be given connection within stipulated time. (Section 43(1))
Penalty in the event of failure to give connection (Section 43(3))
Payment of interest on security deposit. (Section 47(4))
Regulatory commission to specify Electricity supply code to be followed by licensees. (Section 50)
No sum due from consumers recoverable after a period of two years unless the same was shown recoverable continuously. (Section 56(2))
Regulatory Commissions/Appellate Tribunal
State Electricity Regulatory Commission to be constituted within six months. (Section 82)
Provision for Joint Commission by more than one State/UT. (Section 83)
Provision for constitution of Appellate Tribunal consisting of Chairman and three Members. (Section 110, 112)
Appellate Tribunal to hear appeals against the orders of CERC/SERC, and also to exercise general supervision and control over the Central/State Commissions. (Section 111)
Appeal against the orders of Appellate Tribunal to lie before the Supreme Court. (Section 125)
Appellate Tribunal considered necessary to-
Reduce litigation and delay in decisions through High Court.
Provide technical expertise in decision on appeals.
Tariff Principles
Regulatory Commission to determine tariff for supply of electricity by generating co. on long/medium term contracts. (Section  62)
No    tariff fixation by regulatory commission if tariff is determined through competitive bidding or  where consumers, on being allowed open access enter into agreement with generators/traders.
Consumer tariff should progressively reduce cross subsidies and move towards actual cost of supply. (Section 61 (g), (h))
State   Government may provide subsidy in advance through the budget for specified target groups if it  requires the tariff to be lower than that determined by the Regulatory Commission. (Section 65) 
Regulatory Commissions may undertake regulation including determination of multi-year tariff principles, which rewards efficiency and is based on commercial principles. (Section 61 (e), (f))
Regulatory Commission to look at the costs of generation, transmission and distribution separately. (Section 62 (2))
Measures Against Theft of Electricity
Focus on revenue realisation rather than criminal proceedings. (Sections 126, 135)
Penalties linked to the connected load and quantum of energy and financial gain involved in theft. (Section 135)
Provisions for compounding of offences. (Section 152)
Assessment of electricity charges for unauthorised use of electricity by the assessing officer designated by the State Government. (Section 126)
Theft punishable with imprisonment. (Section 135)
Punishment provision for abetment of theft. (Section 150)
Special Courts (Sections 153-158)
I hope that now you are clear about the Indian electricity act-2003