Petition for truing up and determination of the transmission tariff fior “Provision of Spare Transformers and Reactors” in the North Eastern Region of the CERC (Conduct of Business) and (Terms and Conditions of Tariff) Regulations – EQ
Summary:
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**Key Approved Components:**
**1. Trued-up Tariff (2019-24):**
– **Capital Cost:** Approved as on 1.4.2019: ₹1125.03 lakh; as on 31.3.2024: ₹1138.41 lakh.
– **Additional Capital Expenditure (ACE):** ₹13.38 lakh allowed (balance/retention payments).
– **Debt-Equity Ratio:** Maintained at 70:30.
– **Annual Fixed Charges (AFC):** Approved as under (₹ in lakh):
| Year | 2019-20 | 2020-21 | 2021-22 | 2022-23 | 2023-24 |
|——|———|———|———|———|———|
| AFC | 199.92 | 194.80 | 190.18 | 186.74 | 183.88 |
**2. Determined Tariff (2024-29):**
– **Opening Capital Cost:** ₹1138.41 lakh (as on 1.4.2024).
– **No Additional Capex** claimed or allowed.
– **Depreciation:** Reduced after 12 years of useful life (from FY 2026-27 onward).
– **Return on Equity (RoE):** Base rate 15.50%, grossed up to 18.78% considering MAT rate of 17.472%.
– **Interest on Loan:** Computed based on actual loan portfolio rates (ranging 8.90%–9.03%).
– **O&M Expenses:** Allowed as per norms for ICTs and reactors.
– **Annual Fixed Charges (AFC):** Approved as under (₹ in lakh):
| Year | 2024-25 | 2025-26 | 2026-27 | 2027-28 | 2028-29 |
|——|———|———|———|———|———|
| AFC | 193.09 | 190.26 | 153.02 | 153.62 | 154.62 |
**Other Key Approvals / Directions:**
– **Tax Truing-up:** Petitioner allowed to true-up RoE based on actual tax rate (MAT) for each year.
– **Filing Fee & Publication Expenses:** Reimbursable from beneficiaries.
– **CTUIL Fees & Charges:** To be borne by PGCIL and recovered as additional O&M via separate petition.
– **RLDC Fees & Licence Fee:** Recoverable from beneficiaries.
– **GST:** Not allowed as not currently levied; prayer considered premature.
– **Security, Insurance & Capital Spares:** Not claimed in this petition; petitioner allowed to file separate consolidated petition for these.
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