Part 3 ANNUAL PERFORMANCE REVIEW for FY 18 Page 49
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Application for Approval of Annual Performance Review for FY-18 and Approval for ARR & ERC under MYT period FY-20-22 and ERC and Tariff Filing for FY-20. ANNUAL PERFORMANCE REVIEW FOR FY-18 In accordance with clause 2.8 of MYT regulations, the distribution licensee is subject to an Annual Performance Review (APR). HESCOM is submitting its application to the Hon’ble Commission for approval of Annual Performance Review for FY-18 along with relevant formats as specified under regulations & audited accounts for FY-18. The Hon’ble Commission had issued the tariff order Dtd: 30.03.2016 under MYT frame work duly approving the MYT for the period from FY-17 to FY-19 and retail supply tariff for FY-18 and approval for Annual Performance Review for FY-17. The Hon’ble Commission had also issued a tariff order Dtd: 14.05.2018 duly approving the Annual Performance Review for FY-17 and approval of ARR for FY-19 and retail supply tariff for FY-19. The HESCOM submits to the Hon’ble Commission to carry out the Annual Performance Review for FY-18 in accordance with the principles laid down in KERC (Tariff) Regulations 2000 as amended from time to time and KERC (Tariff) regulations 2006, duly considering the actual expenditure as per the audited accounts for FY-18 and the approved expenditure as per the Commission’s order Dtd: 11.04.2017. Part 3 ANNUAL PERFORMANCE REVIEW FOR FY 18 Page 49 Application for Approval of Annual Performance Review for FY-18 and Approval for ARR & ERC under MYT period FY-20-22 and ERC and Tariff Filing for FY-20. HESCOM’s Financial Performance in FY-18 As per the audited accounts of HESCOM for FY-18, HESCOM submits to the Hon’ble Commission, an over view of the Financial Performance of HESCOM for FY-18 as under. Rs. In Crs Financial Performance of HESCOM for FY-18: FY18 Sl. Particulars As per filing Approved Vide Order As per the No dated Dtd : 11.04.2018 Audited Acts 30.11.2016 Revenue at existing tariff in Rs. Crores 1 Revenue from tariff and 2717.81 2843.85 3592.05 Miscellaneous Charges 2 Tariff Subsidy to BJ/KJ 53.30 117.87 119.95 3 Tariff Subsidy to IP 3321.76 3321.76 3175.54 4 Total Existing Revenue 6092.87 6283.47 6887.54 Expenditure in Rs. Crores 5 Power Purchase Cost 4780.41 4966.95 5803.83 6 Transmission charges of KPTCL 589.72 535.48 535.48 7 SLDC Charges 4.80 5.39 5.54 8 Power Purchase Cost including cost of 5374.93 5507.82 6344.85 transmission 9 Employee Cost 637.68 687.72 10 Repairs & Maintenance 67.37 58.49 11 Admin & General Expenses 92.36 127.88 12 Total O&M Expenses 797.41 744.36 874.09 13 Depreciation 152.91 130.04 149.03 Interest & Finance charges 14 Interest on Capital Loans 306.31 180.23 291.27 15 Interest on Working capital loans 134.73 126.71 38.57 16 Interest on belated payment on PP Cost 0.00 0.00 115.42 17 Interest on consumer security deposits 55.91 49.01 43.30 18 Other Interest & Finance charges 0.00 0.00 19 Less interest & other expenses capitalized 0.00 0.00 20 Total Interest & Finance charges 496.95 355.95 488.56 21 Other Debits 13.09 0.00 25.48 22 Extraordinary item (Adjustment of excess 102.90 0.00 102.90 subsidy amount as per KERC Order) 23 Return on Equity 0.00 0.00 24 Funds towards Consumer 0.50 0.50 0.01 25 OtherRelations/Consumer Income Education 154.37 170.73 120.07 26 ARR 6784.32 6567.94 7864.85 27 Deficit for FY16 carried forward -372.73 -223.23 28 Distribution loss reduction incentive 24.31 29 Contribution to P&G Trust (as per 448.27 GoK directions) 30 Net ARR 7629.63 6791.16 7864.85 31 Deficit for FY-19 as per audited accounts 977.31 Part 3 ANNUAL PERFORMANCE REVIEW FOR FY 18 Page 50 Application for Approval of Annual Performance Review for FY-18 and Approval for ARR & ERC under MYT period FY-20-22 and ERC and Tariff Filing for FY-20. Note : Expenses towards DSM activities of Rs.0.01 Crs was booked under account head 76-193 and included in A & G expenses which is bifurcated from O & M expenses and shown separately vide Sl No : 25 of the above table. As per the audited accounts of the HESCOM there is deficit of Rs. 977.31 Crs for FY-19 as indicated above. The item wise explanation of the actual performance as per the audited accounts vis-à-vis the expenses approved as per the tariff order Dtd: 30.03.2016 is indicated as noted below. Sales for FY-18 : The Hon’ble Commission had approved 10569.56 Mu as sales for FY-18, excluding the energy sold to HRECS and SEZ vide Tariff Order Dtd: 11.04.2017. As per the audited accounts and DCB of HESCOM the sales for FY-18 is as indicated below. Sales & No of Installation for FY-18 : No of installations Sales in MUs Tariff Differe Approve Differenc Filed Approved Actual Filed Actual nce d e a b c d c-d e f g f-g LT 2(a) 2520585 2519639 2537347 -17708 1531.53 1531.53 1,412.32 119.21 LT 2(b) 6683 6785 6653 132 21.84 20.96 18.5 2.46 LT 3 351339 351966 355003 -3037 463.51 470.9 447.73 23.17 LT 4 (b) 848 848 856 -8 15.59 16.79 17.43 -0.64 LT 4 (c) 373 373 356 17 0.98 0.98 0.84 0.14 LT 5 113341 113341 113582 -241 327.57 322.3 320.43 1.87 LT 6 40383 40383 42618 -2235 299.64 280.24 277.19 3.05 LT 6 21934 22039 22823 -784 149.86 141.4 149.38 -7.98 LT 7 51236 51236 66658 -15422 26.37 26.37 28.25 -1.88 HT 1 292 296 318 -22 213.84 224.66 234.01 -9.35 HT 2(a) 1484 1516 1586 -70 764.17 913.15 1,005.39 -92.24 HT 2(b) 525 526 578 -52 130.59 130.59 121.8 8.79 HT 2 (c) 331 331 299 32 88.59 88.59 74.14 14.45 HT 3 (a) (b) 267 268 259 9 101.74 181.27 255.87 -74.6 HT 4 31 28 32 -4 14.64 13.55 14.59 -1.04 HT 5 80 80 49 31 34.8 34.8 21.81 12.99 Sub Total 3109732 3109655 3149017 -39362 4185.26 4398.07 4,399.68 -1.6 LT-1 777402 777402 759934 17468 189.48 197.11 245.48 -48.37 LT 4 (a) 734778 734778 696647 38131 5974.38 5974.38 6,054.12 -79.74 Sub Total 1512180 1512180 1456581 55599 6163.86 6171.49 6,299.60 -128.11 Total 4621912 4621835 4605598 16237 10349.12 10569.56 10,699.28 -129.72 HESCOM has registered total sales of 10,699.28 MU as against the KERC approved sales of 10569.56 MU for FY-18, thus showing an increase in the sales of 129.72 MU in FY-18. A major variation in the energy sales, compared to the energy sales approved in the Tariff Order 2017, Dtd : 11.04.2017 is observed as below. No. of installations: There is an increase in the No. of installations in respect of the following categories when compared to the approved figures of FY-17. Part 3 ANNUAL PERFORMANCE REVIEW FOR FY 18 Page 51 Application for Approval of Annual Performance Review for FY-18 and Approval for ARR & ERC under MYT period FY-20-22 and ERC and Tariff Filing for FY-20. LT-2 (a) :- There is increase in number of installations by 17,708 Nos as compared to the approved figures. However, there is an increase by 1,11,056 Nos over the figures of FY-17 (FY-18 – 25,37,347 Nos, FY-17 – 24,26,291 Nos). The approval of 25,19,639 installations seems to be on the lower side. LT-3 :- There is increase in number of installations by 3037 Nos as compared to the approved figures. However, there is an increase by 18153 Nos over the figures of FY-17 (FY-18 – 355003 Nos, FY-17 – 336850 Nos). LT-4(b) :- There is increase in number of installations by 8 Nos as compared to the approved figures. However, there is a decrease by 420 Nos over the figures of FY-17 (FY-18 – 856 Nos, FY-17 – 1276 Nos). LT-5 :- There is increase in number of installations by 241 Nos as compared to the approved figures. However, there is an increase by 5781 Nos over the figures of FY-17 (FY-18 – 113582 Nos, FY-17 – 107801Nos). LT-6(a) :- There is increase in number of installations by 2235 Nos as compared to the approved figures. However, there is an increase by 4389 Nos over the figures of FY-17 (FY-18 – 42618 Nos, FY-17 – 38229 Nos). LT-6(b) :- There is increase in number of installations by 784 Nos as compared to the approved figures. However, there is an increase by 1278 Nos over the figures of FY-17 (FY-18 – 22823 Nos, FY-17 – 21545 Nos).