- (1.) THIS petition has been filed by the petitioner, NTPC, for approval of tariff for Simhadri Super Thermal Power Station, Stage -II (2 x 500 MW) (hereinafter referred to as "the generating station") for the period from 1.4.2011 to 31.3.2014, based on the Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, 2009 (hereinafter referred to as "the 2009 Tariff Regulations"). The generating station with an installed capacity of 1000 MW comprises of two units of 500 MW capacity each and is an expansion project to the existing Simhadri Super Thermal Power Station, Stage -I. The investment approval of the project was accorded by the Board of NTPC Ltd. in its 298th meeting held on 23.03.2007 at SBI Capital Markets Ltd. appraised current estimated cost of Rs. 51033.94 million (Rs. 41636.71 million + US $212.85 million) including IDC and FC of Rs. 5529.30 million (Rs. 2393.19 million + US $71.03 million) and Working Capital Margin (WCM) of Rs. 1150.53 million at an exchange rate of US $1 = Rs. 44.15, as of 1st Qtr. 2007 price level and indicative estimated completed cost of Rs. 55559.86 million (Rs. 45808.99 million + US $220.86 million) including IDC & FC of Rs. 5892.61 million (Rs. 2549.31 million + US $75.73 million) and WCM of Rs. 1189.65 million at an exchange rate of US $1 = Rs. 44.15, subject to environmental and forest clearances of Ministry of Environment and Forests and clearance of land for Ash Dyke from State Government as well as subject to adjustments in costs consequential to revision in the COD of Unit -I to 42 months from the date of environmental clearances of Ministry of Environments & Forests, Government of India, and Unit -II at six months thereafter.
(2.) THE petitioner vide its affidavit dated 28.2.2011 had filed the petition for approval of tariff from the anticipated date of commercial operation of Unit -I i.e. from 1.4.2011 to 30.9.2011 and from the anticipated commercial operation of Unit -II i.e. from 1.10.2011 to 31.3.2014. Subsequently, in response to the Commission's directions vide letter dated 20.4.2011, the petitioner vide its affidavit dated 30.5.2011 had submitted that the expected date of commercial operation of Unit -I is 1.7.2011. Accordingly, the Commission vide its order dated 29.9.2011 granted provisional annual fixed charges of Rs. 56706 lakh for 2011 -12 for Unit -I based on the capital cost of Rs. 257006 lakh as claimed by the petitioner. Thereafter, the petitioner vide its affidavit dated 9.2.2012 submitted that the Unit -I of the project has been declared under commercial operation on 16.9.2011 and that Unit -II was expected to be declared under commercial operation on 31.7.2012. Consequently, the petitioner revised the tariff computations based on capital expenditure up to the date of commercial operation of Unit -I i.e. 16.9.2011 and the anticipated date of commercial operation of Unit -II i.e. 31.7.2012. Accordingly, the capital cost claimed by the petitioner for the period 2011 -14 vide affidavit dated 9.2.2012 is as under: (' in lakh) The annual fixed charges claimed by the petitioner for the period 2011 -14 vide its affidavit dated 9.2.2012 is as under: (' in lakh)
(3.) REPLY to the petition has been filed by the respondents namely, TANGEDCO (respondent No. 6) and KSEB (respondent No. 13). The petitioner has filed its rejoinder to the reply. Time and Cost Overrun;