Multi-Year Tariff Petition for FY 2013-14 to FY 2015-16 - UERC
Multi-Year Tariff Petition for FY 2013-14 to FY 2015-16 - UERC
Multi-Year Tariff Petition for FY 2013-14 to FY 2015-16 - UERC
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4.3.2 CAPITAL COST OF UITP PROJECTSPETITION FOR TRUE-UP OF <strong>FY</strong> 2004 TO <strong>FY</strong> 2011-12 &MYT PETITION FOR THE CONTROL PERIOD <strong>FY</strong> <strong>2013</strong>-<strong>14</strong> TO <strong>FY</strong> <strong>2015</strong>-<strong>16</strong>The opening gross fixed asset base has been considered from the latest ARR filings made by PTCUL inrespect of the Associated Transmission System of Bhilangana III <strong>for</strong> <strong>FY</strong> 2012-13 comprising of 220 kVD/C Ghansali-Bhilangana III (Ghuttu) Line, 220 kV Chamba Ghansali Line and 220 kV Bay at Chamba 1 .In the Business Plan submitted <strong>to</strong> the Hon‟ble Commission, the various capital expenditure schemesunder UITP along with their capital cost and expected commissioning schedule has been detailed. A yearsummary of the capital expenditure under the UITP is provided in table below along with the capitalizationeach year:Table 45: Capital Expenditure and Capitalization during <strong>FY</strong> 2012-13 and Control Period (Figures in Rs Crore)Planned Schemes 2012-13 <strong>2013</strong>-<strong>14</strong> 20<strong>14</strong>-15 <strong>2015</strong>-<strong>16</strong>Capital expenditure 112.49 385.69 1040.83 826.08Capitalization - 205.55 477.23 1,223.57Accordingly, the gross fixed asset base over the plan period is provided in the table below:Table 46: Gross Fixed Asset of UITP Schemes (Figures in Rs Crore)OpeningParticularsGFA as on1.4.2012REC-IV 39.37Additionsin <strong>FY</strong>2012-13Additionsin <strong>FY</strong><strong>2013</strong>-<strong>14</strong>Additionsin <strong>FY</strong>20<strong>14</strong>-15Additionsin <strong>FY</strong><strong>2015</strong>-<strong>16</strong>PFC Schemes - - 275.42 -ADB Schemes - 205.55 201.81 1,223.57Planned Schemes <strong>to</strong> be funded byPFC/REC- - - -Total 39.37 - 205.55 477.23 1,223.574.3.3 INTEREST ON LOANSThe interest expenditure on account of long-term loans depends on the outstanding loan, repayments,and prevailing interest rates on the outstanding loans. Further, the projected capital expenditure and thefunding of the same also have a large bearing on the long-term interest expenditure.The funding <strong>for</strong> new capital expenditure in the control period has been assumed <strong>to</strong> be undertaken at anormative debt: equity ratio of 70:30 in accordance with the <strong>Tariff</strong> Regulations, 2011 and accordingly thenew loan additions during the year has been estimated. For the purpose of calculation of interest on theseloans, the rate of interest has been considered at 11.50% in respect of REC-IV loans (Bhilangana III),1 Evacuation system from Bhilangana has been planned <strong>to</strong> cater <strong>to</strong> future genera<strong>to</strong>rs expected in the valley, as apart of the UITP. However, 220 kV Ghansali substation, which is expected <strong>to</strong> come up by June 20<strong>14</strong> has beenplanned <strong>to</strong> offtake power from the power plants in this valley <strong>to</strong> Chamba <strong>to</strong> serve UPCL demand and local demand.There<strong>for</strong>e, the 220 kV sub-station at Ghansali, the 220 kV line from Ghansali <strong>to</strong> Chamba and 220 kV Bay atChamba will be taken as serving the demand of Uttarakhand w.e.f June 20<strong>14</strong>.Power Transmission Corporation of Uttarakhand Ltd. Page 44