Competition Commission of India (CCI)

• When established? On 14th October 2003 under the Competition Act, 2002

• Headquarter – New Delhi

• Composition – A Chairperson and 6 Members appointed by the Central Government.

• Functions of CCI –
a) To eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade.
b) Give opinion on competition issues on a reference received from any statutory authority, competition advocacy, create public awareness and impart training.

• Powers of CCI –
a) Inquire into certain agreements and abuse of dominant position of enterprises likely to have adverse effect on competition.
b) Summoning and enforcing the attendance of any person and examining him on oath
c) Requiring the discovery and production of documents, receiving evidence on affidavit
• In discharge of its functions, the Commission shall be guided by the principles of natural justice and shall have the powers to regulate its own procedure.

Pension Fund Regulatory & Development Authority (PFRDA)

• When established? On August 23, 2003. The Pension Fund Regulatory & Development Authority Act was passed on 19th September, 2013.

• Headquarter – New Delhi

• Composition – The Authority consists of a Chairperson and not more than five members, of whom at least three shall be whole-time members, to be appointed by the Central Government.

• Functions of PFRDA – It performs promotional, developmental and regulatory functions relating to pension funds as follows:
a) Regulating the NPS
b) Approving the schemes, the terms and conditions, management of the corpus of the pension funds
c) Issue investment guidelines
d) Educating the subscribers and the general public on issues relating to pension, and training of intermediaries
e) Adjudicating disputes between intermediaries as well as between intermediaries and subscribers
f) Establishing mechanisms for grievance redressal of the subscribers

Central Electricity Regulatory Commission

• Recognizing that electricity is one of the key drivers for rapid economic growth and poverty alleviation Central Electricity Regulatory Commission (CERC), a key regulator of power sector in India, has been set up in 1998 as a statutory body functioning with quasi-judicial status.
• The Commission intends to promote competition, efficiency and economy in bulk power markets, improve the quality of supply, promote investments and advise government on the removal of institutional barriers to bridge the demand supply gap and thus foster the interests of consumers.
• In pursuit of these objectives the Commission aims to – Improve the operations and management of the regional transmission systems through Indian Electricity Grid Code (IEGC), Availability Based Tariff (ABT), etc; Formulate an efficient tariff setting mechanism, which ensures speedy and time bound disposal of tariff petitions, promotes competition, economy and efficiency in the pricing of bulk power and transmission services and ensures least cost investments; to facilitate open access in inter-state transmission; to facilitate technological and institutional changes required for the development of competitive markets in bulk power and transmission services.
• The National Electricity Policy has been evolved in consultation with and taking into account views of the State Governments, Central Electricity Authority (CEA), Central Electricity Regulatory Commission (CERC) and other stakeholders.
• Recently CERC announces Renewable Energy Certificate (REC) system for fulfillment of its mandate to promote renewable sources of energy and development of market in electricity. REC mechanism is aimed at addressing the mismatch between availability of Renewable Energy resources in state and the requirement of the obligated entities to meet the renewable purchase obligation (RPO).