Page 1 of 28 CENTRAL ELECTRICITY REGULATORY COMMISSION NEW DELHI Petition No. 325/2009 Coram: 1. Dr. Pramod Deo, Chairperson 2

CENTRAL ELECTRICITY REGULATORY COMMISSION NEW DELHI Petition No. 325/2009 Coram: 1. Dr. Pramod Deo, Chairperson 2. Shri S.Jayaraman, Member 3. Shri V.S.Verma, Member 4. Shri M.Deena Dayalan, Member DATE OF HEARING: 11.3.2010 In the matter of DATE OF ORDER: 26.4.2010 Determina tion of revised tra nsmission ta riff due to a dditiona l c a pita l expenditure during 1.4.2008 to 31.3.2009 for (i) 315 MVA, 400/220 kV, IC T a t Siliguri; (ii) 400 kV D/C Biha rsha riff-Muza ffa rpur line, Biha rsha riff 400 kV extension a nd Muza ffa rpur 400 kV extension; (iii) 315 MVA, 400/220 kV, IC T-I Subha shgra m sub-sta tion (New); a nd (iv) LILO of one c irc uit of 400 kV D/C Fa ra kka -Jeera t line a t Subha shgra m a nd esta blishment of 400/220 kV substa tion (New) a t Subha shgra m inc luding 1X315 MVA, IC T-II under system strengthening Sc heme for Ea stern Region (formerly pa rt of Ta la Supplementa ry Sc heme). And in the matter of Power G rid C orpora tion of India Limited, G urga on Vs ..Petitioner 1. 2. 3. 4. 5. 6. Biha r Sta te Elec tric ity Boa rd, Pa tna West Benga l Sta te Elec tric ity Boa rd, Kolka ta G rid C orpora tion of Orissa Ltd., Bhuba neswa r Da moda r Va lley C orpora tion , Kolka ta Power Depa rtment, G ovt. of Sikkim, G a ngtok Jha rkha nd Sta te Elec tric ity Boa rd, Ra nc hi … . Respondents The following were present: 1. Shri U.K.Tya gi, PG C IL 2. Shri Ra kesh Pra sa d, PG C IL 3. Shri M.M.Monda l, PG C IL 4. Shri R.B.Sha rma , Advoc a te, BSEB ORDER This petition ha s been filed for revision of tra nsmission ta riff due to a dditiona l c a pita l expenditure inc urred in respec t of tra nsmission elements Page 1 of 28 given in the ta ble below together with their da tes of c ommerc ia l opera tion under System Strengthening Sc heme (the tra nsmission sc heme) in Ea stern Region during the period from 1.4.2008 to 31.3.2009 for Asset-I a nd Asset-II a nd 1.4.2007 to 31.3.2009 for Asset-III a nd Asset-IV, ba sed on the C entra l Elec tric ity Regula tory C ommission (Terms a nd C onditions of Ta riff) Regula tions, 2004 (hereina fter referred to a s “the 2004 regula tions: <ul style="display: flex;"><li style="flex:1">S.No. </li><li style="flex:1">Na me of Assets </li><li style="flex:1">Da te of the </li></ul>c ommerc ia l opera tion <ul style="display: flex;"><li style="flex:1">1.10.2006 </li><li style="flex:1">1. </li></ul>2. 315 MVA, 400/220 kV, IC T a t Siliguri (Asset-I) 400 kV D/C Biha rsha riff-Muza ffa rpur line, Biha rsha riff 400 1.11.2006 kV extension a nd Muza ffa rpur 400 kV extension (Asset-II) 315 MVA, 400/220 kV, IC T-I Subha shgra m sub-sta tion 1.4.2007 (New) (Asset-III) LILO of one c irc uit of 400 kV D/C Fa ra kka -Jeera t line a t 1.3.2007 Subha shgra m a nd esta blishment of 400/220 kV substa tion (New) a t Subha shgra m inc luding 1X315 MVA, IC T- II (Asset-IV) 3. 4. <ul style="display: flex;"><li style="flex:1">2. </li><li style="flex:1">The petitioner ha s a lso pra yed for reimbursement of the petition filing </li></ul>fee, lic enc e fee a nd other expenditure in c onnec tion with the filing of the petition <ul style="display: flex;"><li style="flex:1">3. </li><li style="flex:1">The investment a pprova l for the tra nsmission sc heme wa s a c c orded by </li></ul>the Boa rd of Direc tors of the petitioner c ompa ny vide letter da ted 25.2.2003 a t a n estima ted c ost of Rs. 24791 la kh, whic h inc luded IDC of Rs. 2364 la kh. Subsequently, the revised c ost estima te for the tra nsmission sc heme wa s a pproved by Boa rd of Direc tors of the petitioner c ompa ny vide its letter da ted 9.7.2007 a t a n estima ted c ost of Rs. 33618 la kh, whic h inc luded a n IDC of Rs.1837 la kh. Page 2 of 28 <ul style="display: flex;"><li style="flex:1">4. </li><li style="flex:1">The tra nsmission c ha rges a pproved for the Asset-I a nd Asset-II vide </li></ul>order da ted 6.5.2008 in Petition No. 97/2007 were revised by the C ommission vide its order da ted 19.8.2009 in Petition No. 68/2009. Tra nsmission c ha rges for Asset-III a nd Asset-IV were a pproved vide order da ted 1.5.2008 in Petition No. 160/2007. The summa ry of the tra nsmission c ha rges a pproved by the sa id orders da ted 19.8.2009 a nd 1.5.2008 is extra c ted hereunder: (Rs. in lakh) <ul style="display: flex;"><li style="flex:1">Asset-I </li><li style="flex:1">Asset-II </li></ul><ul style="display: flex;"><li style="flex:1">2007-08 </li><li style="flex:1">2008-09 </li><li style="flex:1">2007-08 </li><li style="flex:1">2008-09 </li></ul>Depreciation <ul style="display: flex;"><li style="flex:1">34.59 </li><li style="flex:1">35.67 </li><li style="flex:1">486.43 </li><li style="flex:1">496.82 </li></ul>917.99 771.13 0.00 63.02 202.52 Interest on Loan Return on Equity Advance against Depreciation Interest on Working Capital O & M Expenses Total 48.82 40.35 0.00 4.73 63.26 48.28 41.61 0.00 4.88 65.80 927.68 755.15 0.00 61.41 194.50 <ul style="display: flex;"><li style="flex:1">191.76 </li><li style="flex:1">196.25 </li><li style="flex:1">2425.16 </li><li style="flex:1">2451.48 </li></ul>(Rs. in lakh) Asset-III 2007-08 Asset-IV <ul style="display: flex;"><li style="flex:1">2007-08 </li><li style="flex:1">2006-07 </li></ul>(Pro rata) <ul style="display: flex;"><li style="flex:1">2008-09 </li><li style="flex:1">2008-09 </li></ul><ul style="display: flex;"><li style="flex:1">Depreciation </li><li style="flex:1">23.29 </li></ul>44.66 34.09 0.00 3.21 22.86 282.27 529.42 412.69 0.00 38.84 285.13 <ul style="display: flex;"><li style="flex:1">282.27 </li><li style="flex:1">37.33 </li></ul>51.18 43.53 0.00 6.03 63.26 37.33 Interest on Loan Return on Equity Advance against Depreciation Interest on Working Capital O & M Expenses Total 507.52 412.69 0.00 39.36 296.67 47.54 43.53 27.18 6.67 65.80 <ul style="display: flex;"><li style="flex:1">128.10 </li><li style="flex:1">1548.35 </li><li style="flex:1">1538.51 </li><li style="flex:1">201.33 </li><li style="flex:1">228.05 </li></ul><ul style="display: flex;"><li style="flex:1">5. </li><li style="flex:1">The releva nt deta ils of the c a pita l expenditure of the tra nsmission </li></ul>a ssets c la imed by the petitioner a re a s under: (Rs. in la kh) C a pital c ost a s on the date of c ommerc ia l opera tion C a pita l expenditure from the date of c ommerc ia l operation to 31.3.2007 64.55 Additional c a pita l expenditure during 2007-08 <ul style="display: flex;"><li style="flex:1">C a pita l c ost </li><li style="flex:1">Additional </li><li style="flex:1">C a pita l c ost </li></ul><ul style="display: flex;"><li style="flex:1">a s on 1.4.2008 </li><li style="flex:1">C a pita l </li><li style="flex:1">a s on 1.4.2009 </li></ul>Expenditure during 2008-09 Asset-I Asset-II Asset-III Asset-IV 866.38 17432.95 1036.90 9657.71 59.97 761.24 0.00 990.90 18440.10 1036.90 10480.77 10.74 101.35 49.81 1001.64 18541.45 1086.71 10942.28 245.91 -<ul style="display: flex;"><li style="flex:1">171.80 </li><li style="flex:1">651.26 </li><li style="flex:1">461.51 </li></ul><ul style="display: flex;"><li style="flex:1">6. </li><li style="flex:1">The petitioner ha s c la imed the tra nsmission c ha rges a s under: </li></ul>Page 3 of 28 (Rs. in la kh) <ul style="display: flex;"><li style="flex:1">Asset-IV </li><li style="flex:1">Asset- I </li><li style="flex:1">Asset-II </li><li style="flex:1">Asset- III </li></ul><ul style="display: flex;"><li style="flex:1">2008-09 </li><li style="flex:1">2008-09 </li><li style="flex:1">2007-08 </li><li style="flex:1">2008-09 </li><li style="flex:1">2007-08 </li><li style="flex:1">2008-09 </li></ul>35.87 48.63 41.84 0.00 498.12 921.35 773.26 0.00 37.33 51.18 43.53 0.00 38.22 49.24 44.57 26.28 6.73 291.55 552.02 426.36 0.00 306.96 566.67 449.73 0.00 Deprec ia tion Interest on Loa n Return on Equity Adva nc e a ga inst Deprec ia tion Interest on Working C a pita l O & M Expenses <ul style="display: flex;"><li style="flex:1">4.90 </li><li style="flex:1">63.14 </li><li style="flex:1">6.03 </li><li style="flex:1">39.63 </li><li style="flex:1">41.46 </li></ul>65.80 197.04 202.52 2458.39 63.26 201.33 <ul style="display: flex;"><li style="flex:1">65.80 </li><li style="flex:1">285.13 </li><li style="flex:1">296.67 </li></ul><ul style="display: flex;"><li style="flex:1">1661.49 </li><li style="flex:1">230.84 1594.69 </li></ul>Tota l <ul style="display: flex;"><li style="flex:1">7. </li><li style="flex:1">The deta ils submitted by the petitioner in support of its c la im for interest on </li></ul>working c a pita l a re given hereunder: (Rs. in la kh) <ul style="display: flex;"><li style="flex:1">Asst-IV </li><li style="flex:1">Asset- I </li><li style="flex:1">Asset-II </li><li style="flex:1">Asset- III </li></ul><ul style="display: flex;"><li style="flex:1">2008-09 </li><li style="flex:1">2008-09 </li><li style="flex:1">2007-08 2008-09 2007-08 2008-09 </li></ul><ul style="display: flex;"><li style="flex:1">9.46 </li><li style="flex:1">189.41 </li><li style="flex:1">10.37 </li></ul>5.27 10.99 5.48 97.06 23.76 102.88 24.72 Ma intena nc e Spa res O & M expenses Rec eiva bles Tota l Ra te of Interest Interest 5.48 32.84 47.78 16.88 409.73 616.02 10.25% 63.14 33.56 49.20 38.47 54.94 265.78 386.60 10.25% 39.63 276.92 404.52 10.25% 41.46 <ul style="display: flex;"><li style="flex:1">10.25% </li><li style="flex:1">12.25% </li><li style="flex:1">12.25% </li></ul><ul style="display: flex;"><li style="flex:1">4.90 </li><li style="flex:1">6.03 </li><li style="flex:1">6.73 </li></ul><ul style="display: flex;"><li style="flex:1">8. </li><li style="flex:1">BSEB in its reply da ted 22.2.2010 ha s submitted tha t the a dditiona l </li></ul>c a pita l expenditure c la imed in the petition a re ma inly on a c c ount of retention/fina l pa yments a nd a c onfirma tion be ta ken from the petitioner tha t no pa rt of the c la im belongs to a ny other c a tegory not c overed by Regula tion 53 of the 2004 regula tions. The petitioner in its rejoinder ha s c onfirmed tha t the expenditure shown in the petition for the yea r 2007-08 a nd 2008-09 ha s been c la imed a s per Regula tion 53 (2) of the 2004 regula tion on a c c ount of fina l/retention pa yments. In view of the c la rific a tion of the petitioner, the objec tions of BSEB no more survive. BSEB ha s a lso objec ted to c onsidering O & M c ha rges, levies, duties, c ess or a ny other Page 4 of 28 sta tutory ta xes etc ., reimbursement of the petition filing fee a nd lic enc e fee. These c onc erns ha ve been ta ken c a re of in the order. CAPITAL COST <ul style="display: flex;"><li style="flex:1">9. </li><li style="flex:1">The deta ils submitted by the petitioner in support of its c la im for </li></ul>a dditiona l c a pita l expenditure a re given hereunder: (Rs. in la kh) <ul style="display: flex;"><li style="flex:1">Asset-I </li><li style="flex:1">Asset-II </li><li style="flex:1">Asset-III </li><li style="flex:1">Asset-IV </li></ul>Amount (Rs. in la kh) Na ture a nd deta ils of expenditure Amount (Rs. in la kh) Na ture a nd deta ils of expenditure Amount (Rs. in la kh) Na ture a nd deta ils of expenditure <ul style="display: flex;"><li style="flex:1">Amount </li><li style="flex:1">Na ture a nd </li></ul><ul style="display: flex;"><li style="flex:1">Yea r </li><li style="flex:1">Yea r </li><li style="flex:1">Yea r </li><li style="flex:1">Yea r </li><li style="flex:1">(Rs. in la kh) </li><li style="flex:1">deta ils of </li></ul>expenditure <ul style="display: flex;"><li style="flex:1">Ba la nc e/ </li><li style="flex:1">2007-08 </li><li style="flex:1">Building, </li></ul><ul style="display: flex;"><li style="flex:1">tra nsmission </li><li style="flex:1">retention </li></ul><ul style="display: flex;"><li style="flex:1">pa yments </li><li style="flex:1">line </li><li style="flex:1">a nd </li></ul>sub-sta tion= Rs. la kh 651.26 2008- 09 sub-sta tion = Rs. 10.74 la kh retention /Fina l pa yments 2008- 09 Tra nsmission line= Retention/Fi na l pa yments <ul style="display: flex;"><li style="flex:1">2008-09 </li><li style="flex:1">sub-station </li></ul>= Rs. 49.81 la kh Ba la nc e pa yments <ul style="display: flex;"><li style="flex:1">2008-09 </li><li style="flex:1">Building, </li><li style="flex:1">Ba la nc e/ </li></ul>retention pa yments tra nsmission <ul style="display: flex;"><li style="flex:1">Rs. </li><li style="flex:1">101.35 </li><li style="flex:1">line </li></ul>sub-sta tion= a nd la kh Rs. la kh 461.51 <ul style="display: flex;"><li style="flex:1">Total </li><li style="flex:1">Rs. 10.74 </li></ul>lakh Rs. lakh <ul style="display: flex;"><li style="flex:1">101.35 </li><li style="flex:1">Rs. 49.81 </li></ul>lakh <ul style="display: flex;"><li style="flex:1">Total </li><li style="flex:1">Rs. 1112.77 </li></ul>lakh <ul style="display: flex;"><li style="flex:1">10. </li><li style="flex:1">The petitioner ha s submitted a udited c a pita l c ost up 31.2.2009 duly </li></ul>c ertified by C ha rtered Ac c ounta nt. The a dditiona l c a pita l expenditure c la imed is within the origina l sc ope of work a nd on a c c ount of retention/fina l/ba la nc e pa yments. The a dditiona l expenditure sought to be c a pita lised is a llowed under Regula tion 53 of the 2004 regula tions. Initial spares 11. C la use (1) of the Regula tion 52 of the 2004 regula tions i n te r a l ia provides tha t,- <ul style="display: flex;"><li style="flex:1">“(1) </li><li style="flex:1">Subjec t to prudenc e c hec k by the C ommission, the a c tua l </li></ul>expenditure inc urred on c ompletion of the projec t sha ll form the ba sis for determina tion of fina l ta riff. The fina l ta riff sha ll be determined ba sed on the a dmitted c a pita l expenditure a c tua lly inc urred up to the da te of c ommerc ia l opera tion of the tra nsmission system a nd sha ll inc lude c a pita lized initia l spa res subjec t to a c eiling norm a s 1.5% of origina l projec t c ost”. Page 5 of 28 <ul style="display: flex;"><li style="flex:1">12. </li><li style="flex:1">The deta ils of a c tua l expenditure inc urred a nd spa res inc luded therein by the </li></ul>petitioner a s per origina l sc ope of projec t up to 31.3.2009 a re a s under:- <ul style="display: flex;"><li style="flex:1">C a pita l Expenditures </li><li style="flex:1">(Rs in lakh) </li><li style="flex:1">Remarks </li></ul>Pa rtic ulars Up to the da te of c ommerc ia l opera tion From the da te of c ommerc ia l opera tion to 31-3-2007 From 4-2007 to 31- 3-2008 <ul style="display: flex;"><li style="flex:1">1- </li><li style="flex:1">From </li><li style="flex:1">Tota l up to </li></ul>c utoff da te Initial Spa res inc luded therein 1-4-2008 to 31-3- 2009 Asset-I Asset-II <ul style="display: flex;"><li style="flex:1">866.38 </li><li style="flex:1">64.55 </li><li style="flex:1">59.97 </li><li style="flex:1">10.74 </li><li style="flex:1">1001.64 </li><li style="flex:1">2.18 </li></ul>1234Fina l tra nsmission ta riff up to the date of <ul style="display: flex;"><li style="flex:1">17432.95 </li><li style="flex:1">245.91 </li><li style="flex:1">761.24 </li><li style="flex:1">101.35 </li><li style="flex:1">18541.45 </li><li style="flex:1">148.43 </li></ul>c ommerc ial operation and a dd c a p up to 31.3.2008 allowed vide petition No. 68/2009 <ul style="display: flex;"><li style="flex:1">Asset-III </li><li style="flex:1">1036.90 </li><li style="flex:1">0.00 </li><li style="flex:1">0.00 </li><li style="flex:1">49.81 </li><li style="flex:1">1086.71 </li><li style="flex:1">0.00 </li></ul><ul style="display: flex;"><li style="flex:1">Asset-IV </li><li style="flex:1">9657.71 </li><li style="flex:1">171.80 </li><li style="flex:1">10942.28 </li><li style="flex:1">148.46 </li></ul><ul style="display: flex;"><li style="flex:1">651.26 </li><li style="flex:1">461.51 </li></ul>Fina l tra nsmission ta riff up to the date of c ommerc ial operation and a dd c a p up to 31.3.2007 allowed vide petition No. 160/2007 13. In rega rd to Asset-I, Asset-II, Asset-III a nd Asset-IV, tota l a c tua l expenditure inc urred by the petitioner up to 31.3.2009 is Rs. 31572.08 la kh a nd c ost of spa res inc luded therein is Rs. 299.07 la kh. The tota l c ost without initia l spa res is Rs. 31273.01 la kh a nd c ost of spa res inc luded therein is Rs. 299.07 la kh whic h is found within the c eiling of 1.5% up to the c ut off da te a s per the 2004 regula tions.

Page 1 of 28 CENTRAL ELECTRICITY REGULATORY COMMISSION NEW DELHI Petition No. 325/2009 Coram: 1. Dr. Pramod Deo, Chairperson 2

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