NATIONAL THERMAL POWER CORPORATION LTD Vs. UTTAR PRADESH POWER CORPORATION LIMITED
CENTRAL ELECTRICITY REGULATORY COMMISSION
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(1.) THIS application has been made for review of order dated 9.5.2006 in Petition No.155/2004, determining the tariff in respect of Dadri Gas Power Station (hereinafter called "the generating station") for the period 1.4.2004 to 31.3.2009.
(2.) The petitioner has contended that there are certain fundamental errors in the said order dated 9.5.2006 and accordingly has sought review. According to the petitioner the order needs to be reviewed on account of the error in computation of Interest on loan capital.
The petitioner has stated that in respect of the generating station, outstanding loan as on 1.4.2004 was Rs. 22071 lakh, after taking into account the actual cumulative repayment prior to that date. The Commission has, however, considered outstanding loan as Rs. 17275 lakh after accounting for the normative cumulative depreciation recorded. According to the petitioner, the difference of Rs. 4796 lakh in the cumulative repayment is on account of inequitable methodology adopted by the Commission in determining the loan repayment during the tariff period 2001-04 and has prayed that outstanding loan as on that date need to be taken as Rs.22071 lakh for computation of tariff.
(3.) THE annual repayment amount for the tariff period 2001-04 worked out as per the methodology followed by the Commission in all cases for that tariff period, is given hereunder:
Actual repayment during the year or repayment as worked out as per the following formula:
Actual repayment during the year X normative net loan at the beginning of the year/actual net loan at the beginning of the year, whichever is higher.;
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