- (1.) The petition has been preferred by Power Grid Corporation of India Limited (hereinafter referred to as "the petitioner") 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 Combined assets of Northern Region System Strengthening Scheme -I in Northern 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 Northern Region.
(3.) The brief facts of the case are as follows: - - "a) Investment approval for the transmission scheme was accorded by the Board of Directors of the petitioner company vide their letter dated 25.2.2004 at an estimated cost of Rs. 27180 lakh including IDC of Rs. 1421 lakh. Subsequently, approval for revised cost estimate was accorded by Board of directors of the petitioner company vide letter dated 21.10.2008 at an estimated cost of Rs. 35084 lakh which included IDC of Rs. 1584 lakh based on 4th quarter, 2007 price level. b) The COD of the transmission asset is 1.6.2008 and the annual transmission charges for 2009 -14 tariff period were determined vide order dated 23.5.2011 in Petition No. 322/2010 based on admitted capital cost of the transmission asset and debt:equity as on 31.3.2009. c) In addition to the above, the Commission had also allowed estimated additional capital expenditure amounting to Rs. 284.21 lakh and Rs. 712.12 lakh towards balance and retention payments during 2009 -10 and 2010 -11 for determination of tariff for 2009 -14 tariff period, as shown below: - - d) The Commission determined the tariff for 2009 -14 tariff period, based on the above capital cost and estimated additional capital expenditure for the transmission assets during 2009 -14 as given below: - - ;