POWER GRID CORPORATION OF INDIA LTD. Vs. MADHYA PRADESH POWER MANAGEMENT COMPANY LTD. AND ORS.
CENTRAL ELECTRICITY REGULATORY COMMISSION
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(1.) The petition has been preferred by Power Grid Corporation of India Limited (hereinafter referred to as "the petitioner"), a transmission licensee, for revision of tariff under Regulation 6 of the Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, 2009 (hereinafter referred to as "the 2009 Tariff Regulations") based on truing up of capital expenditure for the period 1.4.2009 to 31.3.2014 and for determination of tariff under Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, 2014 (hereinafter referred to as "the 2014 Tariff Regulations") for the period from 1.4.2014 to 31.3.2019 in respect of 400 kV S/C Vindhyachal -Korba Ckt. II transmission line along with associated bay equipment at Vindhyachal and Korba (DOCO: 1.6.2007) under Korba -Vindhyachal Transmission System in Western Region (hereinafter referred to as "the transmission asset").
(2.) The respondents are distribution licensees, who are procuring transmission service from the petitioner, mainly beneficiaries of Western Region.
(3.) The brief facts of the case are as follows: - -
"a) The investment approval for the transmission line was accorded by Board of Directors of the petitioner company vide Memorandum dated 19.2.2004 at an estimated cost of Rs. 16402.00 lakh, which included IDC of Rs. 878.00 lakh. The transmission line was to be completed by February 2007. Subsequently, approval for the revised cost estimate was accorded by Board of Directors of the petitioner company vide letter dated 10.7.2007 for an estimated cost of Rs. 21253.00 lakh, which included IDC of Rs. 1447.00 lakh.
b) The transmission asset was put to commercial operation on 1.6.2007. The Commission vide its order dated 17.9.2010 in Petition No. 167/2010 had approved the capital cost of Rs. 18621.19 lakh as on 31.3.2009 as under: -
c) The commission had allowed the additional capital expenditure of Rs. 62.43 lakh in 2009 -10 and Rs. 42.43 lakh in 2010 -11 in its order in Petition No. 167/2010.
d) The Commission determined the tariff for the transmission asset for tariff period 2009 -14 based on admitted capital cost of Rs. 18621.19 lakh as on 31.3.2009 and estimated additional capital expenditure of Rs. 62.43 lakh in 2009 -10 and Rs. 42.43 lakh in 2010 -11 as given below: - -
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