queries raised by director tariff on arr and bsp application of gridco for fy 2010 11 on 09 02 2010 n.
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Queries raised by Director (Tariff) on ARR and BSP Application of GRIDCO for FY 2010-11 on 09.02.2010.

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queries raised by director tariff on arr and bsp application of gridco for fy 2010 11 on 09 02 2010

Queries raised by Director (Tariff) on ARR and BSP Application ofGRIDCO for FY 2010-11 on09.02.2010

slide2
Energy Demand:In the absence of any communication from the DISCOMs, GRIDCO has considered the energy demand of 20,846 MU for DISCOMs based on the five year Business Plan starting from FY 2008-09 submitted before the Commission for approval. However, the DISCOMs in their submission have projected 22,005.10 MU for the FY 2010-11. The views of GRIDCO on DISCOMs’ submission of higher energy demand may be furnished along with the prospective plan for meeting such excess energy demand of DISCOMs.
  • Status of revised PPA of OPGC :As per Govt. of Orissa, Energy Department Notification dtd.21.06.2008, OPGC and GRIDCO have to file the revised/ amended PPA to OERC for approval which should be effective from 1st April, 2007. The status of filing of amended PPA in OERC may please be furnished by GRIDCO.
slide3
Fixed cost of TTPS:GRIDCO has proposed total fixed cost (FC) of Rs.275.66 cr. taking into account the recent NTPC filing before CERC (Rs.217.39 cr.) and revised O&M (as per new CERC Tariff Regulation, 2009) to the tune of Rs.58.27 cr. Since CERC is yet to finalise the revised FC of TTPS as per new tariff norms, the reason for considering the higher fixed cost may be furnished.
slide4
CERC has finalized the Terms and Conditions of Tariff Regulation, 2009 for the next five year period starting from 1st April, 2009 to 31st March, 2014. Since the new tariff Order for individual station has not yet been finalized by CERC, GRIDCO has considered the fixed cost for the Central Thermal Generating Stations as approved by CERC for the respective stations for FY 2008-09 in its ARR application for FY 2010-11. But in addition to fixed cost, GRIDCO has considered the income tax of Rs.94.22 cr for TSTPS Stage-I, Rs163.72 cr for TSTPS Stage-II, Rs.108.36 cr for FSTPS and Rs.51.68 cr for KHTPS Stage-I as additional capacity charge which has not been supported by CERC Regulation, 2009. GRIDCO may explain how the same shall be considered in the ARR of 2010-11.
  • Arrear BSP Dues:The Commission had fixed the BSP for 2009-10 taking into consideration Rs.170 cr to be recovered from CESU & SOUTHCO towards arrear BSP dues. The amount recovered from them till date may be submitted.
slide5
UI & Trading: The Commission had allowed a gap of Rs.882.85 crore including repayment liability of Rs.245.16 crore in its Tariff Order dt.20.03.2009 to be bridged by earnings from UI and Trading and recovery of receivables from DISCOMs over and above the aforesaid mentioned Rs.170 crore. The latest position in this regard may be furnished.
  • Miscellaneous Receipts:GRIDCO in its ARR for 2010-11 has shown an amount of Rs.4.20 crore towards receivables from NALCO & ICCL on account of supply of 10 MU emergency power under the head Miscellaneous Receipt. It is observed from Performance Review for the year 2008-09 and 2009-10 (upto September’ 09) that GRIDCO has earned Rs.48.73 crore & Rs.73.78 crore by supplying emergency power of 144.42 MU & 175.95 MU respectively to NALCO & ICCL. GRIDCO may clarify the reason for projecting a low quantum of the order of 10 MU of emergency power supply to NALCO & ICCL and the resultant low Miscellaneous Receipts for FY 2010-11.
slide6
Single-Part Vs Two-Part BSP:Some objectors have opposed the single part tariff proposed by GRIDCO and are in favour of a two-part tariff. Views of GRIDCO in this regard may be furnished.
  • PPAs for OHPC Old Power Stations: PPA for Rengali Hydro Electric Project has already been vetted by the Commission with observations for certain modifications. OHPC & GRIDCO were asked to submit the modified Rengali PPA along with the PPAs for Hirakud, Balimela and Upper Kolab Hydro Electric Projects in line with Rengali PPA. The same have not yet been submitted till date. GRIDCO should expedite for early submission of the PPAs for the said power stations to the Commission.
slide7
GRIDCO in Schedule 6 of the audited accounts for 2008-09 has shown an amount of Rs.962.30 cr. towards receivable for a period exceeding six months prior to 31.03.2009. Details of such debts along with the upto date status of recovery may be furnished.
  • The cash flow for the FY 2009-10 (upto December, 2009) reveals loan receipt of Rs.900 cr. and during FY 2008-09 the loan receipt is shown at Rs.300 cr. Hence the total loan works out to Rs.1200 cr. upto December, 2009. Given the fact that GRIDCO has no fixed asset of its own, what is the type of security given by GRIDCO to financial institutions for obtaining such loan? Whether for obtaining the above loans Govt. guarantee has been obtained?