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

More documents

Recommendations

Info

PETITION FOR TRUE-UP OF FY 2004 TO FY 2011-12 &MYT PETITION FOR THE CONTROL PERIOD FY 2013-14 TO FY 2015-162. FINAL TRUE-UP FOR FY 2004-05TO FY 2010-11 AND PROVISIONALTRUE-UP FOR FY 2011-122.1 BACKGROUNDIn this section, PTCUL is submitting true-up for all the previous years starting from FY 2004-05 (i.e. postthe separation of PTCUL from UPCL) to FY 2011-12. In its previous orders, the Hon‟ble Commission hasundertaken provisional true-up for the period FY 2004-05 to FY 2009-10 in absence of availability ofaudited accounts. The audited accounts for FY 2004-05 to FY 2010-11 are now available and PTCUL hasaccordingly filed for final true-up for FY 2004-05 to FY 2010-11 with the Petition. The accounts of FY2011-12 have been audited by statutory auditor and are awaiting audit report from the CAG. Therefore,PTCUL has included provisional true-up of FY 2011-12.As per the UERC Tariff Regulations 2011, true-up / review of previous years prior to FY 2013-14 (i.e. upto FY 2012-13) for transmission licensee would be governed by UERC (Terms and Conditions forDetermination of Transmission Tariff) Regulations, 2004 and UERC (Terms and Conditions for Truing Upof Tariff) Regulations, 2008 as amended from time to time. The Petitioner has prepared the final true-upof FY 2004-05 to FY 2010-11 and provisional true-up for FY 2011-12 in compliance to the same.2.2 PRINCIPLES FOR TRUE-UPUERC (Terms and Conditions for Truing Up of Tariff) Regulations, 2008 provides that-“(1) The Commission shall undertake a review of actual levels of expenses, revenues and operationalparameters in a financial year vis-à-vis the approved levels in the relevant Tariff Order for that financialyear either on a Petition moved by the concerned licensee/generating company or suo-moto. While doingso, the Commission after considering the reasons for these variations may permit carrying forward offinancial impact of the same to the extent approved by the Commission to the following year(s). Thisexercise shall be called truing up exercise.(2) Truing up exercise for a financial year shall normally be carried out along with Tariff determinationexercise(s) taken up after the close of that financial year.(3) Truing up can be done either based on provisional or audited data and can also be taken up for one ormore items separately as deemed necessary by the Commission. No further true up shall normally bedone after a truing up exercise based on audited data has been carried out.”Power Transmission Corporation of Uttarakhand Ltd. Page 9
PETITION FOR TRUE-UP OF FY 2004 TO FY 2011-12 &MYT PETITION FOR THE CONTROL PERIOD FY 2013-14 TO FY 2015-16It is pertinent to mention here that the Petitioner had submitted the true up petition for FY 2004-05 to FY2010-11, based on audited annual accounts, along with the tariff petition for FY 2012-13. But the Hon‟bleCommission had observed certain discrepancies in the amount of assets capitalised based on PhysicalProgress Report submitted by PTCUL and addition to GFA in balance sheets submitted with auditedaccounts. The Commission had directed the Petitioner to file the truing up Petition seeking final true-up ofexpenses for FY 2004-05 to FY 2010-11 after reconciliation of asset capitalisation figures along with theMYT Petition for the first control period.The petitioner submits that this reconciliation has been undertaken and the report of the independentchartered accountant firm regarding the same has been submitted along with the business plan. ThePetitioner therefore seeks true-up of expenses for the financial years 2004-05 to 2010-11 as per theaudited accounts as applicable for various heads of expenditure. Also, the annual accounts for FY 2011-12 have been approved by the Statutory Audit and are pending approval by CAG. Accordingly, thePetitioner requests the Hon‟ble Commission to do the provisional true-up of expenses for FY 2011-12.The accounts for all the financial years (from FY 2004-05 to FY 2011-12) have been enclosed asannexure to this petition.2.3 GROSS FIXED ASSETSThe UERC has dealt with the issue of opening value of GFA, as on November 9, 2001, in the FY 2005-06Tariff Order dated 25.04.2005, wherein it had fixed the opening value of GFA transferred to PTCUL basedon the total asset base of Rs. 508 Crore for UPCL as on November 9, 2001 instead of provisional value ofRs. 1058.18 Crore taken by UPCL in its accounts. Accordingly on pro-rata basis, the Commission hadconsidered the value of old transmission assets transferred to Petitioner from transmission assets ofUPCL as Rs. 108.26 Crore.The Commission had further allowed additional capitalizations upto 31.3.2003 such that the original valueof the GFA as on 31.3.2003 was fixed at Rs. 126.34 Crore for PTCUL against the value of Rs. 263.39Crore assigned in the provisional transfer scheme.The UERC in all the tariff orders upto FY 2012-13 has consistently directed PTCUL to approach theUERC for suitable adjustment in the opening value of GFA upon finalisation of the Transfer Scheme.By an order No. 117/I(2)/2011-05/19/2002 dated 27th April 2012, the Govt of Uttarakhand has approvedthe value of GFA of Rs. 1058.18 Crore taken by UPCL in its accounts as on November 9, 2001. (Thecopy of the same has been endorsed to Hon‟ble UERC by the GoU). Accordingly this true up petition hasconsidered the opening assets of Rs. 263.39 Crore assigned to PTCUL in the transfer scheme.Further, some Inter Unit Transactions (IUTs) remained pending with Uttarakhand Power Corporation Ltd.Further for better control and supervision, the project units were created and separated from the O&Munits and work and resources were transferred accordingly. The executed works prior to separation ofPower Transmission Corporation of Uttarakhand Ltd. Page 10
Page 8 and 9: xPower Transmission Corporationof U
Page 10 and 11: PETITION FOR TRUE-UP OF FY 2004 TO
Page 14 and 15: 1. INTRODUCTIONPETITION FOR TRUE-UP
Page 20 and 21: 2.6 INTEREST ON WORKING CAPITALPETI
Page 26 and 27: * Actual expenditure is inclusive o
Page 28 and 29: 3.1.6 INTEREST ON WORKING CAPITAL L
Page 42 and 43: ParticularsPETITION FOR TRUE-UP OF
Page 44 and 45: EMPn = (EMPn-1) x (1+Gn) x (CPIinfl
Page 50 and 51: 4.3 ANNUAL TRANSMISSION CHARGES OF
Page 66 and 67:
PETITION FOR TRUE-UP OF FY 2004 TO
Page 68 and 69:
Formats for MYT Petition for the Co
Page 70 and 71:
Page 72 and 73:
Page 74 and 75:
Page 76 and 77:
Page 78 and 79:
Page 80 and 81:
Page 82 and 83:
Page 84 and 85:
Page 86 and 87:
Page 88 and 89:
Page 90 and 91:
Page 92 and 93:
Page 94 and 95:
Page 96 and 97:
Page 98 and 99:
Page 100 and 101:
Page 102 and 103:
Page 104 and 105:
Page 106 and 107:
Page 108 and 109:
Page 110 and 111:
Page 112 and 113:
Page 114 and 115:
Page 116 and 117:
Page 118 and 119:
Page 120 and 121:
Page 122 and 123:
Page 124 and 125:
Page 126 and 127:
Page 128 and 129:
Page 130 and 131:
Page 132 and 133:
Page 134 and 135:
Page 136 and 137:
Page 138 and 139:
Page 140:
show all

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

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?