- (1.) THIS application has been made by the petitioner, National Hydroelectric Power Corporation Ltd, (NHPC), a generating company, for review of order dated 9.5.2006 in Petition No. 158/2004, determining tariff in respect of Bairasiul Hydroelectric Project (hereinafter referred to as "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 of the order on certain aspects, discussed in the succeeding paras. ALLOCATION OF ADDITIONAL CAPITALIZATION TOWARDS DEBT AND EQUITY The Commission in its order dated 9.5.2006 considered additional capitalization of Rs. 246.37 lakh for the period 1.4.2001 to 31.3.2004 on account of works and FERV. For the purpose of tariff, the additional capital expenditure was divided into debt and equity so as to bring over all debt-equity ratio closer to 70:30 since the petitioner had not given the approved debt-equity ratio for the generating station. Therefore, for the purpose of tariff, equity of Rs. 7785 lakh was considered. The petitioner has presently claimed equity of Rs. 7892.34 lakh.
(3.) THE petitioner has stated that the allocation of additional capitalisation for the years 2001-02 to 2003-04 towards debt and equity by the Commission is arbitrary and inconsistent with Regulations 34 and 36 of the Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, 2004 (hereinafter referred to as "the 2004 regulations").;