Coal News We love to talk!

MAY 08 2015

MPERC partially upholds review petition filed by JPVL for tariff order related to 500 MW Bina TPP

  • Economic Times, ET Bureau / Hyderabad
  • Created: Fri 08th MAY 2015

The Madhya Pradesh Electricity Regulatory Commission (MPERC) has partially upheld the petition filed by Jaiprakash Power Ventures Limited (JPVL) under Regulation 40 of the MPERC (Conduct of Business) Regulations, 2004, read with Section 94 of the Electricity Act, 2003, for the review of the tariff order passed by the commission for the 2x250 MW Bina thermal power project (TPP), Stage-I.

MPERC in its previous order had determined the final generation tariff in respect of the Bina TPP for the period from the commercial date of operation of each unit (Unit-I: August 31, 2012; Unit-II: April 7, 2013) to March 31, 2016.

The issues that JPVL sought to be reviewed included pre-commissioning fuel expenses, double deduction of revenue earned from the generation of infirm power, interest and finance charges on loan capital, and inadequate recovery of capacity charges.

The commission held that the only issue related to ‘interest on loan capital’ qualifies for review and that the rest of the issues are not [worthy of consideration due to lack of merit.

Revised interest and finance charges for Units I and II of Bina TPP Stage-I as determined by MEPRC

Particulars

As on March 31, 2013

As on April 6, 2013

As on March 31, 2014

As on March 31, 2015

As on March 31, 2016

Unit I

Unit II

Units I and II

Units I and II

Units I and II

Opening loan

10,138.10

9,740.40

22,168.20

22,245.10

20,523.10

Loan addition

16.8

-

1,707.70

-

-

Repayment considered

414.50

11.70

1,630.90

1,722

1,722

Closing loan

9,740.40

9,728.70

22,245.10

20,523.10

18,801.10

Average loan

9,939.30

9,734.60

22,206.60

21,384.10

19,662.10

Weighted average rate of interest (%)

13.42

12.75

12.75

12.75

12.75

Annual interest amount

1,333.90

1,241.20

2,831.30

2,726.50

2,506.90

Source: MPERC

 

Revised annual capacity charges for Units I and II of Bina TPP Stage-I as determined by MEPRC

Particulars

As on March 31, 2013

As on April 6, 2013

As on March 31, 2014

As on March 31, 2015

As on March 31, 2016

Unit I

Unit II

Units I and II

Units I and II

Units I and II

Return on equity

852.70

853.40

1,970.70

2,042.40

2,042.40

Interest charges on loan

1,333.90

1,241.20

2,831.30

2,726.50

2,506.90

Depreciation

710.30

710.80

1,658.10

1,722

1,722

Operation and expenses

427

460.50

921

995

1,073

Secondary fuel oil expenses

112.20

112.30

224.70

224.70

225.30

Interest on working capital

326.70

256.80

532.80

550.50

551.20

Annual capacity (fixed) charges

3,762.80

3,635.10

8,138.60

8,261

8,120.80

Operational number of days

213

6

359

365

366

Annual capacity (fixed) charges apportioned for actual days of operations

2,189.90

59.80

8,004.80

8,261

8,120.80

Less: Non-tariff income

-

0.40

26.70

-

-

Net annual capacity charges

2,189.90

59.40

7,978.10

8,261

8,120.80

Annual capacity (fixed) charges corresponding to 65 per cent of the installed capacity of the units

1,423.40

38.60

5,185.80

5,369.60

5,278.50

Source: MPERC

Further, the difference between the annual capacity (fixed) charges determined in this order and those determined in the earlier order shall be recovered from Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company Limited, Madhya Pradesh Madhya Kshetra Vidyut Vitaran Company Limited, Madhya Pradesh Paschim Kshetra Vidyut Vitaran Company Limited, and Madhya Pradesh Power Management Company Limited in the ratio of the energy supplied to them in six equal monthly installments during 2015–16.

Tags

Madhya Pradesh Infirm Finance Tariff Electricity Act Oil Thermal Power Project Energy Electricity Regulatory Commission Madhya Pradesh Elecricity Regulatory Commission Power Electricity

Related News

  • JSW Energy in talks to buy Jaypees Bina power plant  Read more
  • Govt invites applications for allotment of 8 coal mines  Read more
  • RBI on board in empowered panel meeting on stressed power assets: Minister  Read more
  • Indias oil imports from Iran plunge over gas field row  Read more
  • VNIT develops energy minimizing controller, transfers tech to BARC  Read more
  • DERCs Net Metering Regulations, 2014  Read more
  • Gamesa building Rs 800 crorefacility in Andhra Pradesh's Nellore  Read more
  • Indian Oil, HP, BP lose market share to Reliance, Essar, Shell  Read more
  • State energy companies scouting oil and gas projects in Russia: Dharmendra Pradhan  Read more
  • Coal scam: Special CBI court records statement of Jindal group's former CA  Read more