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

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4.3 ANNUAL TRANSMISSION CHARGES OF UITP SCHEMESPETITION FOR TRUE-UP OF FY 2004 TO FY 2011-12 &MYT PETITION FOR THE CONTROL PERIOD FY 2013-14 TO FY 2015-164.3.1 ABOUT THE UTTARAKHAND INTEGRATED TRANSMISSION PROJECTUttarakhand has a huge hydro power potential. Currently, approximately 2100 MW is under developmentby IPPs, 7300 MW by CPSUs and approximately 2500 MW by UJVNL. Further to improve power securityof the state and improve hydro-thermal mix, UJVNL has signed an MOU with GAIL to set up 300-500 MWgas based plants at Kashipur and Haridwar. Beyond the above capacities under execution/planning, thestate has the second largest potential (first being Himachal Pradesh) amongst the Indian states for smallhydro (< 25 MW) - which according to Ministry of New and Renewable Energy, Government of India isapproximately 1577 MW (as on 31.1.2011). Such huge development of Hydro Power Plants needs to beencouraged through a transmission pricing mechanism which allows the generators to have seamlessaccess to the pan-India market. This can be facilitated by adapting the Point of Connection (PoC)mechanism at the state level. This is critical for states like Uttarakhand because:i. The mechanism allows sharing of burden of transmission charges between generators andbeneficiaries – both inter-state and intra-state.ii.The Hydro power plant development in a basin happens in stages, whereas the transmissioninvestment is made taking the future development into consideration . Hence there is a needto adopt a mechanism which obviates the burden of transmission charges on initial investorsin generation.To facilitate the Hon‟ble Commission, PTCUL has instituted a study of alternative PoC mechanisms thatcan be adopted at the level of the state and yet be integrated with the mechanism adopted by CERC.Further, the PoC mechanism adopted by CERC requires identification of state-owned lines which arebeing utilized for transfer of inter-state power. The charges for such lines will be reimbursed by the CTUafter PTCUL signs Revenue Sharing Agreement (RSA) – which has been approved by CERC- with theCTU. However, for this purpose the ARR of the assets being used for transfer of inter-state power needsto be approved by the Hon‟ble Commission. Such an approval will allow PTCUL to charge for the intrastatelines being used by generators for inter-state transfer of power.PTCUL will submit the computations of PoC mechanisms for consideration by Hon‟ble Commission alongwith proposed regulations on the subject. In this section, the PTCUL has computed the ARR for suchlines and associated transmission system which will facilitate PTCUL to charge for the intra-state linesbeing used by generators for inter-state transfer of power and to charge for the use of these lines to interstateconsumers through CTU in accordance with the PoC mechanism adopted by the Hon‟ble CERC.Power Transmission Corporation of Uttarakhand Ltd. Page 43
4.3.2 CAPITAL COST OF UITP PROJECTSPETITION FOR TRUE-UP OF FY 2004 TO FY 2011-12 &MYT PETITION FOR THE CONTROL PERIOD FY 2013-14 TO FY 2015-16The 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 for FY 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 to 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 FY 2012-13 and Control Period (Figures in Rs Crore)Planned Schemes 2012-13 2013-14 2014-15 2015-16Capital 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 FY2012-13Additionsin FY2013-14Additionsin FY2014-15Additionsin FY2015-16PFC Schemes - - 275.42 -ADB Schemes - 205.55 201.81 1,223.57Planned Schemes to 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 for new capital expenditure in the control period has been assumed to be undertaken at anormative debt: equity ratio of 70:30 in accordance with the Tariff 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 to cater to future generators expected in the valley, as apart of the UITP. However, 220 kV Ghansali substation, which is expected to come up by June 2014 has beenplanned to offtake power from the power plants in this valley to Chamba to serve UPCL demand and local demand.Therefore, the 220 kV sub-station at Ghansali, the 220 kV line from Ghansali to Chamba and 220 kV Bay atChamba will be taken as serving the demand of Uttarakhand w.e.f June 2014.Power Transmission Corporation of Uttarakhand Ltd. Page 44
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Multi-Year Tariff Petition for FY 2013-14 to FY 2015-16 - UERC

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