Multi-Year Tariff Petition for FY 2013-14 to FY 2015-16 - UERC

PETITION FOR TRUE-UP OF FY 2004 TO FY 2011-12 &MYT PETITION FOR THE CONTROL PERIOD FY 2013-14 TO FY 2015-16Contents1. INTRODUCTION ......................................................................................................................... 72. FINAL TRUE-UP FOR FY 2004-05 TO FY 2010-11 AND PROVISIONAL TRUE-UP FOR FY2011-12 .......................................................................................................................................... 92.1 Background ...................................................................................................................................... 92.2 Principles for True-up ..................................................................................................................... 92.3 Gross Fixed Assets ...................................................................................................................... 102.4 Depreciation................................................................................................................................... 112.5 O&M Expenses ............................................................................................................................. 122.6 Interest on Working Capital ......................................................................................................... 132.7 Interest and Finance Charges..................................................................................................... 132.8 Return on Equity ........................................................................................................................... 142.9 Non-Tariff Income ......................................................................................................................... 142.10 Summary of Year-Wise Gap ....................................................................................................... 142.11 Carrying Cost on Under-Recovered Amounts .......................................................................... 152.12 Summary of Final Truing Up from FY 2004-05 to 2011-12 .................................................... 163. REVIEW OF AGGREGATE REVENUE REQUIREMENT FOR FY 2012-13 ................................ 183.1 Review of ARR for FY 2012-13 .................................................................................................. 183.1.1 Operation & Maintenance Expenditure...................................................................................... 183.1.2 Capital Expenditure ...................................................................................................................... 193.1.3 Depreciation................................................................................................................................... 193.1.4 Interest on Term Loans ................................................................................................................ 193.1.5 Advance Against Depreciation .................................................................................................... 203.1.6 Interest on Working Capital Loans ............................................................................................. 213.1.7 Return on Equity ........................................................................................................................... 213.1.8 Income Tax .................................................................................................................................... 223.1.9 Non-Tariff Income ......................................................................................................................... 223.1.10 Aggregate Revenue Requirement .............................................................................................. 224. AGGREGATE REVENUE REQUIREMENT FOR THE CONTROL PERIOD FY2013-14 TOFY2015-16 ................................................................................................................................... 244.1 MYT Framework ........................................................................................................................... 244.2 Aggregate Revenue Requirement for the Control Period FY 2013-14 TO FY 2015-16 InRespect Of Intra-State Transmission Network .............................................................................................. 254.2.1 System Availability ........................................................................................................................ 264.2.2 Transmission Losses.................................................................................................................... 264.2.3 Opening Gross Fixed Assets ...................................................................................................... 274.2.4 Capital Expenditure for the Control Period ............................................................................... 284.2.5 Financing of the Schemes ........................................................................................................... 304.2.6 Depreciation................................................................................................................................... 314.2.7 Interest on Loan ............................................................................................................................ 334.2.8 Return on Equity ........................................................................................................................... 334.2.9 Employee Expenses ..................................................................................................................... 36Power Transmission Corporation of Uttarakhand Ltd. 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