- (1.) THIS is a petition filed by Power Grid Corporation Limited (PGCIL) seeking approval for incentive for the year 2008 -09 for its transmission system in Eastern Region under Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, 2004 (hereinafter referred to as "the 2004 Tariff Regulations"). Regulation 51 of the 2004 Tariff Regulations provides that: - 51. Target Availability for recovery of full transmission charges (1) AC System: 98% (2) HVDC bi -pole links and HVDC back -to -back stations: 95% Note 1 Recovery of fixed charges below the level of target availability shall be on pro rata basis. At zero availability, no transmission charges shall be payable. Note 2 The target availability shall be calculated in accordance with procedure specified in Appendix -III.
(2.) CLAUSE (1) of Regulation 60 of the 2004 Tariff Regulations provides that: - 60. Incentive: (1) The transmission licensee shall be entitled to incentive @ 1% of equity for each percentage point of increase in annual availability beyond the target availability prescribed under regulation 51, in accordance with the following formula: Incentive=Equity x [Annual availability achieved -Target availability]/100 (2) Incentive shall be shared by the long -term customers in the ratio of their average allotted transmission capacity for the year. The petitioner initially submitted along with the petition the availability of the intra -regional system, inter -regional system and bilateral elements on the basis of the availability certificate issued by the Member Secretary, ERPC on 29.4.2009. The petitioner has later filed the revised availability of the various transmission systems, vide affidavit dated 25.6.2013, on the basis of the availability certificate issued by the Member Secretary ERPC on 14.11.2012. The petitioner has also submitted that at the time of filing the instant petition tariff was not approved by the Commission for some of the assets commissioned during 2004 -09 period and now the final tariff orders for all the assets commissioned upto 31.3.2009 in the Eastern Region has been issued by the Commission. Accordingly, the petitioner has submitted the revised the incentive calculations based on the revised availability and the equity of all the assets commissioned upto 31.3.2009. The details of certified availability, target availability and availability eligible for incentive are given overleaf: - (All figures in %)
(3.) AS provided in the 2004 Tariff Regulations, the incentive for the year 2008 -09 has been worked out considering the availability of transmission system as certified by the Member Secretary, ERPC and the equity of all the assets commissioned during the period 2004 -09 in the Eastern Region. The details of the incentive claimed by the petitioner and the incentive allowed are as under: - (' in lakh) ;