Petition No. 99/2004. Case: Power Grid Corporation of India Limited Vs Rajasthan Rajya Vidyut Prasaran Nigam Limited and Ors.. Central Electricity Regulatory Commission
| Case Number | Petition No. 99/2004 |
| Judges | Ashok Basu, Chairman, K.N. Sinha and Bhanu Bhushan, Members |
| Issue | Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, 2004 - Regulations 52, 54 and 56 |
| Judgement Date | September 06, 2005 |
| Court | Central Electricity Regulatory Commission |
Order:
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The petition has been filed for approval for transmission charges for 400 KV S/C Chamera I - Kishenpur transmission line in Northern Region for the period from 1.4.2004 to 31.3.2009, based on the Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, 2004, (hereinafter referred to as "the 2004 regulations"). The petitioner had also prayed that it be permitted to continue the billing of transmission charges on the same basis as charged on 31.3.2004, pending determination of tariff in the present petition. No other specific relief is prayed for.
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The above line (100.23 Km) was set up by the petitioner under Chamera I HEP Transmission System. The assets covered in this petition also include its terminal bays, one each at Chamera I HEP (NHPC) and Kishenpur sub-station (PGCIL). The line has subsequently been looped-in-looped-out at Chamera-II HEP. This LILO work is however covered in a separate tariff petition.
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The petitioner has claimed the transmission charges as under:
(Rs. In lakh)
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2004-05 2005-06 2006-07 2007-08 2008-09
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Depreciation 198.42 198.42 198.42 198.42 198.42
Interest on Loan 0.00 0.00 0.00 0.00 0.00
Return on Equity 676.76 676.76 676.76 676.76 676.76
Advance against Depreciation 0.00 0.00 0.00 0.00 0.00
Interest on Working Capital 29.87 30.71 31.60 32.54 33.53
O & M Expenses 78.99 82.15 85.50 88.82 92.46
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Total 984.04 988.04 992.28 996.54 1001.17
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4. The details submitted by the petitioner in support of its claim for interest on working capital are given hereunder:
(Rs. in lakh)
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2004-05 2005-06 2006-07 2007-08 2008-09
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Maintenance Spares 120.85 128.10 135.78 143.93 152.56
O & M expenses 6.58 6.85 7.12 7.40 7.71
Receivables 164.01 164.67 165.38 166.09 166.86
Total 291.44 299.62 308.28 317.42 327.13
Rate of Interest 10.25% 10.25% 10.25% 10.25% 10.25%
Interest 29.87 30.71 31.60 32.54 33.53
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5. The transmission line was declared under commercial operation on 1.10.1997. The annual transmission charges for the period from 1.4.2001 to 31.3.2004 were decided by the Commission in its order dated 31.7.2003 in petition No 39/2002, and for the period up to 31.3.2001 by the Central Government, Ministry of Power by notifications dated 16.11.1998 and 7.5.1999.
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The replies to the petition have been filed by Punjab State Electricity Board, Jaipur Vidyut Vitran Nigam Ltd, Jodhpur Vidyut Vitran Nigam Ltd and Ajmer Vidyut Vitran Nigam Ltd.
CAPITAL COST
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As per clause (2) of Regulation 52 of the 2004 regulations in case of the projects existing up to 31.3.2004, the project cost admitted by the Commission for determination of tariff prior to 1.4.2004 shall form the basis for determination of tariff.
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The petitioner has considered the capital expenditure of Rs. 8271.00 lakh admitted by the Commission in the order dated 31.7.2003 ibid. The petitioner has not claimed - 3 additional capitalisation on works. The...
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