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 2015-16Table 55: Projected Guarantee Fee towards UITP Projects (Figures in Rs Crore)Particulars 2013-14 2014-15 2015-16Outstanding Loan Balance 410.89 1103.65 1557.41Projected Guarantee Fee 4.11 11.04 15.574.3.9 INTEREST ON WORKING CAPITALThe interest on working capital is worked out on normative basis and is based on norms specified underthe Regulation 34 (2) of Tariff Regulations, 2011. The rate of interest for calculation of interest on workingcapital has been considered at 13.25% which is the rate approved by the Hon‟ble Commission in its tarifforder for PTCUL for FY 2012-13 dated April 4, 2012.Accordingly, the interest on working capital has been calculated as given below:Table 56: Interest on Working Capital for UITP Projects (Figures in Rs Crore)Particulars 2013-14 2014-15 2015-16Computation of Working CapitalO&M Expenses of one month 0.34 1.00 2.69Maintenance spares 0.61 1.80 4.84Two months receivables 4.40 19.02 29.79Working Capital 5.35 21.82 37.32Rate of interest on working capital 13.25% 13.25% 13.25%Interest on Working Capital 0.71 2.89 4.944.3.10 INCOME TAX AND OTHER TAXESAs per Regulation 35 of the Tariff Regulations, 2011; income tax payable for each year of the controlperiod is based on the actual income tax paid. Any variation in income tax actually paid & approved shallbe reimbursed at the time of truing up for each year of the control period. Taxes on incomes and othertaxes would be recovered on actual basis as and when incurred.4.3.11 INCENTIVE FOR ACHIEVING TARGET AVAILABILITYThe incentive would be claimed in accordance with the Tariff Regulations 2011 on month to month basisbased on the procedure prescribed in Appendix IV of the Tariff Regulations, 2011.Power Transmission Corporation of Uttarakhand Ltd. Page 48