PANKI TPS MYT PETITION FOR DETERMINATION OF TARIFF … · PANKI _MYT Petition for Determination of...

PANKI _MYT Petition for Determination of Tariff

PANKI TPS MYT PETITION FOR DETERMINATION OF TARIFF FOR FY 2009‐10 TO 2013‐14

UP RAJYA VIDYUT UTPADAN NIGAM LTD

2009

FORM1 (See Regulation 30)

BEFORE THE HON’BLE UTTAR PRADESH ELECTRICITY REGULATORY COMMISSION, KISAN MANDI BHAWAN, GOMITNAGAR, LUCKNOW

Receipt Register No.: _______________

Petition No.: ______________

IN THE MATTER OF MULTI YEAR TARIFF PETITION FOR APPROVAL OF ANNUAL REVENUE REQUIREMENT AND DETERMINATION OF TARIFF FOR FY 2009‐10 TO FY 2013‐14 IN RESPECT OF PANKI THERMAL POWER STATION OF UTTAR PRADESH RAJYA VIDYUT UTPADAN NIGAM LIMITED (UPRVUNL), SHAKTI BHAWAN, 14‐ASHOK MARG LUCKNOW AND IN THE MATTER OF PANKI THERMAL POWER STATION OF UTTAR PRADESH RAJYA VIDYUT UTPADAN NIGAM LIMITED (UPRVUNL), SHAKTI BHAWAN, 14‐ASHOK MARG, LUCKNOW.

APPLICANT V/s UTTAR PRADESH POWER CORPORATION LIMITED (UPPCL), SHAKTI BHAWAN, 14‐ASHOK MARG, LUCKNOW. MADHYANCHAL VIDYUT VITRAN NIGAM LTD. PN ROAD, LUCKNOW. POORVANCHAL VIDYUT VITRAN NIGAM LTD. 132 KV S/S BHIKARI VIDYUT NAGAR, VARANASI PASCHIMANCHAL VIDYUT VITRAN NIGAM LTD. VICTORIA PARK, MEERUT DAKSHINACHAL VIDYUT VITRAN NIGAM LTD. GALINA ROAD AGRA. KANPUR ELECTRICITY SUPPLY CO. LTD. KESA HOUSE, KANPUR NOIDA POWER CO. LTD. COMMERCIAL COMPLEX, H BLOCK, ALPHA‐II SECTOR GREATER NOIDA CITY

RESPONDENTS

The applicant, Panki TPS of Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited , a

Company incorporated under the provisions of the Companies Act, 1956 having its

registered office at “Shakti Bhawan, 14‐Ashok Marg, Lucknow‐226001’ is making this

affidavit in the matter of application for Determination of Multi Year Tariff for the Control

Period of FY 2009‐10 to FY 2013‐14

1. Facts of the Case:

The Panki TPS of Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (Petitioner) is

submitting this Multi Year Tariff Petition for Determination of Tariff for the Five Year

Control Period of FY 2009‐10 to FY 2013‐14 for its Panki thermal power station as per Para

5 of the UPERC (Terms and Conditions of Generation Tariff) Regulations, 2009 & as per

Para 17 of UPRVUNL Tariff Order for FY 2008‐09.

2. Submissions

The Panki TPS of UPRVUNL is filing this Petition under the provisions of Section 61 & 62 of

Electricity Act, 2003 and the UPERC (Terms and Conditions of Generation Tariff)

Regulations, 2009 and its Appendices and the prescribed tariff filing format as annexed

with the petition.

EXECUTIVE SUMMARY

The performance parameters and other cost elements have been duly elaborated in the

enclosure to the Petition. Based on these, the cost of generation has been determined under

three heads.

Fixed Costs (Annual Capacity Charges)

Energy charges

Taxes and Govt Levies

The Cost for the control period as proposed in the tariff Petition is as under:

Fixed Costs

The fixed charges are contracted capacity charges payable to generating company by the

consumer irrespective of actual generation from the plants. However as the tariff

regulations provide for recovery of fixed costs based on achievement of target availability,

the fixed costs would be claimed based on achievement of target availability. The overall

fixed charges in respect of Panki thermal power station is elaborated in the table below

Table: Total Annual Capacity (Fixed) Charges

(All Figures in Rs Crs)

Particulars (Rs Crs) FY 10 FY 11 FY 12 FY 13 FY 14

Depreciation 6.25 6.25 15.94 26.05 26.05Interest on Loan 3.37 2.94 4.29 43.45 52.53Return on Equity 6.01 6.01 14.54 23.06 23.06Advance against Depreciation 0.00 0.00 0.00 0.00 18.81Interest on Working Capital 14.42 15.22 17.55 20.83 22.70O & M Expenses 79.55 84.33 94.73 106.06 112.40Compensation Allowance 1.37 1.37 1.46 1.56 1.56Total Fixed Cost 110.98 116.12 148.51 221.02 257.11

Energy Sent Out (MU) 982 1001 1092 1189 1233Fixed Cost per Unit (Rs/kwh) 1.13 1.16 1.36 1.86 2.09

SUMMARY OF ANNUAL CAPACITY (FIXED) CHARGES

The Petitioner would suitably approach the Hon’ble Commission for true‐up of fixed costs

based on audited accounts

Variable Charges

These are the expenses, taken place directly in proportion to the generation of power and

primarily consist of fuel costs of generation. These are dependent on the quantity of

generation and hence recovery is proposed on per unit or net generation. The cost of

energy charges for the Petitioner for the control period for Panki thermal power station is

as under:

Table: Summary of Energy (Variable) Charges

Particulars FY 10 FY 11 FY 12 FY 13 FY 14

Coal Cost 222.18 234.94 266.08 299.90 321.74Oil Cost 9.04 9.26 10.15 11.05 11.43Total Variable Cost 231.22 244.21 276.23 310.95 333.16

Energy Sent Out (MU) 982 1001 1092 1189 1233Variable Cost per Unit (Rs/kwh) 2.35 2.44 2.53 2.61 2.70

SUMMARY OF VARIABLE CHARGES

Taxes and Govt Levies

These are the amounts recovered on behalf of the government and paid as taxes. In fact the

amount does not depend upon the performance of the company but are determined by

government policies. The Petitioner has sought recovery of such expenses as separate pass

through basis. Expenses which have been claimed as pass through are Pollution Cess

liabilities, Water Cess, rates & taxes, regulatory fee payable to UPERC, etc.

Other Significant Issues

There are few issues which have been separately raised in this Petition which are:

• Arrears of Pollution Cess Liabilities – Automatic pass through approval sought

based on actual payments

• Finance & Bank Charges – Sought as Separate pass through based on actual payment

basis

Prayer

The Petitioner respectfully prays that the Hon’ble Commission may

Accept this Petition

Accept the tariff rates as elaborated in the Petition

Permit recovery of expenses understated/ not considered in this Petition e.g.

depreciation etc at a later stage, if required

Allow the Petitioner to apply the tariff provided by the Hon’ble Commission from

the beginning of FY 2009‐10

Allow true‐up of uncontrollable expenses in the control period based on the audited

accounts and normative parameters as applicable for various heads of expenditures.

Condone any inadvertent omissions / errors / short comings and permit the

applicant to add /change /modify / alter this Petition and make further submissions

as may be required at later stages

Pass such orders as Hon’ble Commission may deem fit and proper and necessary in

the facts and circumstances of the case, to grant relief to the petitioner.

FORM-2 (See Regulation 31)

BEFORE THE HON’BLE UTTAR PRADESH ELECTRICITY REGULATORY COMMISSION, KISAN MANDI BHAWAN, GOMITNAGAR, LUCKNOW

Receipt Register No.: _______________

Petition No.: ______________

IN THE MATTER OF MULTI YEAR TARIFF PETITION FOR APPROVAL OF ANNUAL REVENUE REQUIREMENT AND DETERMINATION OF TARIFF FOR FY 2009‐10 TO FY 2013‐14 IN RESPECT OF PANKI THERMAL POWER STATION OF UTTAR PRADESH RAJYA VIDYUT UTPADAN NIGAM LIMITED (UPRVUNL), SHAKTI BHAWAN, 14‐ASHOK MARG LUCKNOW AND IN THE MATTER OF PANKI THERMAL POWER STATION OF UTTAR PRADESH RAJYA VIDYUT UTPADAN NIGAM LIMITED (UPRVUNL), SHAKTI BHAWAN, 14‐ASHOK MARG, LUCKNOW.

APPLICANT VS

UTTAR PRADESH POWER CORPORATION LIMITED (UPPCL), SHAKTI BHAWAN, 14‐ASHOK MARG, LUCKNOW. MADHYANCHAL VIDYUT VITRAN NIGAM LTD. PN ROAD, LUCKNOW. POORVANCHAL VIDYUT VITRAN NIGAM LTD. 132 KV S/S BHIKARI VIDYUT NAGAR, VARANASI PASCHIMANCHAL VIDYUT VITRAN NIGAM LTD. VICTORIA PARK, MEERUT DAKSHINACHAL VIDYUT VITRAN NIGAM LTD. GALINA ROAD AGRA. KANPUR ELECTRICITY SUPPLY CO. LTD. KESA HOUSE, KANPUR NOIDA POWER CO. LTD. COMMERCIAL COMPLEX, H BLOCK, ALPHA‐II SECTOR GREATER NOIDA CITY

AFFIDAVIT

I, Mahendra Kumar , Son of Shri Parshu Ram aged about 45 years, resident of 80, Hydel officers

colony, Chandralok, Aliganj, Lucknow, do hereby solemnly affirm and state as under:

1. I say that I am Chief Engineer, Commercial UPRVUNL, the Applicant in the above

matter and am duly authorized by the said Applicant to swear the present affidavit.

2. I say that I have read the contents of the above Petition filed by the Petitioner (applicant)

and I have understood the contents of the same.

3. That the contents of the Petition filed by the Applicant are based on the information

available with the Applicant in the normal course of business and believed by me to be

true.

4. I say that the Text, Appendices and Annexure to the Petition are the true and correct

copies of their original.

DEPONENT

VERIFICATION

I, the deponent above named, do hereby verify the contents of the above affidavit to be true to the

best of my knowledge, no part of it is false and nothing material has been concealed therefrom.

Verified at Lucknow on the , 2010

DEPONENT

PANKI_MYT Petition for Determination of Tariff Page 8

CONTENTS

1. INTRODUCTION .................................................................................................................... 10

1.1 Rationale ................................................................................................................................................................ 10

1.2 UPRVUNL ............................................................................................................................................................... 10

1.3 Installed Capacity of the Petitioner ............................................................................................................ 11

1.4 Capacity Addition Plans of UPRVUNL ........................................................................................................ 12

1.5 R&M, Refurbishment & Up‐rating Programme ...................................................................................... 13

1.5.1 Up‐rating of Panki U#3 & U#4 (2x105MW to 2x120MW) ...................................................... 15

1.6 Arrears of Pollution Cess Liabilities ........................................................................................................... 16

1.7 Annual Payment of Statutory Charges like Water Cess, Payment to Pollution Control Board, Regulatory Fee, etc ............................................................................................................................................ 17

1.8 Finance & Bank Charges .................................................................................................................................. 18

1.9 Payment of Service Tax on CISF Services ................................................................................................. 18

1.10 Expenses towards implementation of ABT ............................................................................................. 20

1.11 Imported Coal Usage ......................................................................................................................................... 20

1.12 Incentive ................................................................................................................................................................ 22

1.13 Taxes on Income ................................................................................................................................................. 22

1.14 Milestones achieved in FY 2008‐09 ............................................................................................................ 22

2. ANNUAL REVENUE REQUIREMENT & MULTI-YEAR TARIFF PETITION OF ‘PANKI TPS’ ............................................................................................................................................. 23

2.1. Annual Capacity (Fixed Charges) Charges ................................................................................ 23

2.1.1. Gross Fixed Assets ................................................................................................................... 23

2.1.2. Interest on Loan Capital .......................................................................................................... 25

2.1.3. Depreciation including Advance Against Depreciation .................................................... 28

2.1.3.1. Depreciation .............................................................................................................................. 28

2.1.3.2. Advance against depreciation (AAD) ................................................................................... 30

2.1.4. Return on Equity ...................................................................................................................... 32

2.1.5. Operation & Maintenance Expenses ..................................................................................... 35

2.1.5.1. Base O&M Expenses ................................................................................................................ 35


2.1.5.2. Impact of Pay Revision ............................................................................................................ 35

2.1.5.3. Projected O&M Expenses ........................................................................................................ 37

2.1.6. Compensation Allowance ....................................................................................................... 38

2.1.7. Interest on Working Capital ................................................................................................... 39

2.1.8. Summary of Annual Capacity (Fixed) Charges ................................................................... 40

2.2. Energy Charges ........................................................................................................................ 41

2.2.1. Fuel Cost Adjustment .............................................................................................................. 43

LIST OF EXHIBITS

EXHIBIT A – Documentary evidence of SBI PLR

EXHIBIT B – Audited Accounts for FY 2007‐08


1. INTRODUCTION

1.1 Rationale

The Electricity Act, 2003 (Act 36 of 2003) came into force with effect from 10.6.2003 and

the previous Acts governing the electricity supply in the country viz. The Indian Electricity

Act, 1910 (9 of 1910), the Electricity (Supply) Act, 1948 (54 of 1948), and the Electricity

Regulatory Commissions Act, 1998 have been repealed. The provisions of the UP Electricity

Reform Act, 1999 (Uttar Pradesh Act 24 of 1999) to the extent not inconsistent with the

provisions of the Electricity Act, 2003, however, continue to apply to Uttar Pradesh.

As per Section 10 (2) of the Electricity Act, 2003 (hereinafter referred to as the Act),

UPRVUNL shall supply electricity to the Licensees (UPPCL or its successors). Section 61 of

the Electricity Act, 2003 deals with Tariff Regulations

Section 62 (1) of the Act provides that the Appropriate Commission shall determine the

tariff in accordance with the provisions of the Act, inter‐alia, for supply of electricity by a

generating company to a distribution licensee. Further, in accordance with Section 86 (1)

(a) of the Act, UPERC shall determine the tariff of generation of power at stations owned by

the UPRVUNL. Section 86 (1) (b) further mandates UPERC to regulate electricity purchase

and procurement process of distribution licensees including the price at which electricity

shall be procured from the generating companies or licensees. Accordingly this petition is

being submitted by the state generating utility’s ‘Panki TPS’ for determination of tariff.

1.2 UPRVUNL

Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL), is a company

incorporated on 25th August 1980 with the principal object of generating electricity.

Petitioner implemented commissioning of 2x210 MW thermal power stations at Unchahar.

In February 1992 this power station was transferred to NTPC.

Consequent to the implementation of power sector reforms in the State where under,

amongst others, the activities of generation, transmission, distribution and retail supply of

electricity carried out by UPSEB have been restructured and UPSEB was unbundled into

Uttar Pradesh Power Corporation Limited (UPPCL), Uttar Pradesh Jal Vidyut Nigam Limited


(UPJVNL) and UP Rajya Vidyut Utpadan Nigam Limited vide the Uttar Pradesh Electricity

Reforms Transfer Scheme, 2000 notification No 149/P‐1/2000‐24, Lucknow dated January

14th, 2000. As part of the scheme all thermal generating stations as set out in Schedule A to

the transfer scheme were transferred to and vested in the Petitioner

The Transfer Scheme assigned a value of Rs. 6009.63 crs (Prov) to gross fixed assets as on

March 31, 1999. The Scheme determined the equity capital as Rs. 1053.71 crs. As part of

the Scheme certain liabilities (listed in Schedule ‘D’ to the Scheme) were retained by GoUP

The provisional Scheme was modified by GoUP vide notification no. 348/P‐1/2001‐24

dated 25 January 2001, which made the Transfer Scheme of the year 2000 effective from

14 January 2000. The modified Scheme provided that value of gross fixed assets as Rs.

6270.60 crs and increased the equity amount to Rs. 1511.44 crs.

In pursuance of GOUP notification no., 2740/P‐1/2003‐24‐14P/2003 dated 12th August

2003, UPPCL was further divided into five successor companies, with UPPCL as Transco

and four successor distribution companies (hereinafter referred to as “licensees”), which

are as follows:

• Paschhimanchal Vidyut Vitran Nigam Limited, Meerut ‐ (Meerut DisCom)

• Dakshinanchal Vidyut Vitran Nigam Limited, Agra ‐ (Agra DisCom)

• Madhyanchal Vidyut Vitran Nigam Limited, Lucknow ‐ (Lucknow DisCom)

• Poorvanchal Vidyut Vitran Nigam Limited, Varanasi ‐ (Varanasi DisCom)

1.3 Installed Capacity of the Petitioner

The details of Installed Capacity of the generating station Panki is listed in table below:

Table: Generation Capacities of the UPRVUNL

S No Thermal Power Station

Unit No. Installed Capacity

Derated Capacity

Date of Commercial Operation

1

Panki

1 32 MW Nil* 2 2 32 MW Nil* 3 3 110 MW 105 MW 29‐Jan‐77 4 4 110 MW 105 MW 29‐May‐77 Total 4 284 MW 210 MW

*These Units have been deleted from the installed capacity


1.4 Capacity Addition Plans of UPRVUNL

The demand for electricity is increasing continuously. Due to increasing gap in the demand

and availability of electricity, the productivity of agricultural, industrial and other fields is

adversely affected. For improvement in the availability of power, the Petitioner has

undertaken several capacity addition schemes which are under various stages of

development.

The following table lists the Power Stations with the expected dates of commissioning of

their units.

Table: Generation Capacity Addition Plan of UPRVUNL

Name of ProjectCapacity (MW)

Likely Commissioning Dates

Parichha Extn (2x250 MW) 500 MW U#5 in April 2010U#6 in June 2010

Harduaganj Extn (2x250 MW) 500 MW U#5 in April 2010U#6 in June 2010

Anpara D (2x500 MW) 1000 MW 2011‐12

Obra C (2x660 MW) 1320 MW 12th Plan

Meja (2x660 MW) (In JV with NTPC) 1320 MW 12th Plan

Anpara E (2x660 MW) 1320 MW 12th Plan

Fatehpur(In JV with Neyvile Lignite) 2000 MW 12th Plan


1.5 R&M, Refurbishment & Uprating Programme

Normal life of any thermal power station is around 25 years. During this life span also, the

performance of the plants gradually goes down until unless required maintenance is

carried out regularly. After completion of normal life, the plants are either to be retired or

major Renovation and Modernization is to be done to bring their performance back to a

reasonable level. The graph below elaborates the average age of thermal generating units

of UPRVUNL plants as on 1st April 2009.

Table 2: Average Age of Power Stations

21

15

36

29

33 32

24

2

0

5

10

15

20

25

30

35

40

Anpara A Anpara B Obra A Obra B Harduaganj Panki Parichha Parichha Extn

Average Age of TPS

It may be seen that the average age of the thermal generating units of the Petitioner is

around 27 years (excluding Parichha Extn).

The creeping effect of vintage coupled with irregular maintenance on account of the

persistent power deficit in the state (which resulted in the deferment of planned

maintenance of the units for a number of times), has further affected the performance of

the generating units.

However, UPRVUNL has planned a Comprehensive R&M, Refurbishment & Up‐rating plans

for its power stations which are under various stages of implementation


A snapshot is presented below of the various Completed / Ongoing & Proposed R&M /

Refurbishment & Up‐rating Schemes:‐

Table 3: Snapshot of R&M / Refurbishment & Uprating Schemes

Name of the schemeNature of Scheme

Capacity AgencyProject Cost (Rs

Benefits from the scheme

Increase in PLF

LE by 15 yrs

Increase in Gen Capacity 1x10+1x50

Obra U#6 R&M 94 MW BHEL 52.47 Increase in PLF

Harduaganj U#7 & U#5

R&M 165 MW BHEL 55.34 Increase in PLF




Increase in PLF

LE by 15 years

Increase in Gen Capacity 5x16 MW

Anpara A (3x210) Refurbishment 630 MW BHEL 787.50 To keep PLF stable

Harduaganj U#7 Uprating 120 MW BHEL 392.00Improve PLF, LE by 15 years, Increase in capacity by 1x10MW

Obra A U#7 & U#8 R&M 188 MW BHEL 178.00 Increase in PLF




Parichha U#1 & U#2 Refurbishment 220 MW BHEL 275.00Increase in PLF, LE by 15 years

Panki U#3 & U#4 Uprating 240 MW BHEL 550.00

Increase in PLF, LE by 15 years, Increase in capacity by 2x10MW

Anpara B (2x500MW) R&M 1000 MW BHEL 691.97 Stabilise PLF

Completed R&M / Refurbishment & Uprating Schemes

Obra A(U#1 & U#2)

Refurbishment 100 MW

M/s Techno Prome Exports (TPE) Russia &

others

189.39

Proposed R&M / Refurbishment & Uprating Schemes

Ongoing R&M / Refurbishment & Uprating Schemes

Obra B (5x200 MW) Refurbishment 1000 MW BHEL 1635.00

The Petitioner, Panki TPS is in the process of implementing a up‐rating scheme, whose

broad features has been discussed in the following chapter:


1.5.1 Uprating of Panki U#3 & U#4 (2x105MW to 2x120MW)

The units of Panki TPS are 32 years old. The Petitioner has planned a comprehensive Up‐

rating of the units in the control period. The Proposed Scheme is of Rs 550 crs.

A snapshot of the scheme along with the shut‐down period is as per table below

Table 4: Details of Uprating Scheme of Panki TPS

Name of the scheme

Nature of Scheme

Capacity AgencyProject Cost (Rs Cr)


U# 3 10/11 to 3/12

U# 4 4/12 to 9/12

Shutdown period

Panki U#3 & U#4

Uprating 240 MW BHEL 550.00

80% PLF, LE by 15 years,

Increase in capacity by 2x10MW

The scheme would be funded in the ratio of 80:20 Debt to Equity ratio. GoUP support in the

form equity would be to the tune of Rs 110 crs. GoUP has made a Budgetary Allocation of

Rs 100 crs in FY 2009‐10 for the same. The Debt funding of Rs 440 crs would be tied up

with PFC

The following table lists the proposed loan drawls and equity support under the scheme

Table 5: Investment Plan for Uprating Scheme of Panki TPS


Equity Drawl 100.00 10.00 ‐ ‐ ‐

Loan Drawl ‐ 176.00 176.00 88.00 ‐

Total 100.00 186.00 176.00 88.00


Based on the proposed expenditure pattern and the unit‐wise Commissioning dates the

proposed capitalization, Interest on Loan, Return on equity, Depreciation & Advance

against depreciation is calculated in the table below

Table 6: Capitalization details of Panki Uprating Scheme


Opening Loan ‐ ‐ 176.00 352.00 429.00 Drawl ‐ 176.00 176.00 88.00 ‐ Repayment ‐ ‐ ‐ 11.00 44.00 Closing Loan ‐ 176.00 352.00 429.00 385.00 Intt on loan (Revenue)

1.68 41.20 50.54

Capitalisation 269.15 280.85

Loan incl IDC 214.15 225.85

Equity 55.00 55.00

Return on Equity 8.53 17.05 17.05

Depreciation 0.81 15.59 19.80

AAD 18.81

1.6 Arrears of Pollution Cess Liabilities

The Petitioner in the tariff petition for FY 2008‐09 had sought recovery of ‘duties, taxes

payable to Government or local authorities (like Pollution Cess, rates and taxes including

Fringe Benefit Tax, Forest Cess) and fees payable to UPERC as separate pass through in

tariff as these are payments being statutory in nature and imposed by law.

The Hon’ble Commission had allowed “recovery of Pollution Cess liabilities, rates and

fees payable to the Commission on actual basis”


The basis of charge of the Pollution Cess is a provision in Section 3 of the Water

(Prevention and Control of Pollution) Cess Act, 1977 through which thermal generating

stations across the country have to pay such cess at the prescribed rates. The Petitioner’s

principal liabilities of such cess is shown in table below:

Table: Principal Liabilities of Pollution Cess towards UP Pollution Control Board

Power Station Cess Amount (Rs Crs)

Payment (Rs Crs)

Balance (Rs Crs)

Panki 5.12 4.77 0.35

Total UPRVUNL 185.64 49.96 135.68

Note: The Petitioner submits that the above charges are towards cess charges and not in

violation of any environmental norms. Such liabilities do not include any interest or penalty.

Based on the submissions of the Petitioner in Pet No/228/2205 the Hon’ble Commission in

an order dated August 20, 2007 had allowed a recovery of Rs. 32 crs to the Petitioner. The

Petitioner has in all paid Rs. 49.96 crs towards Pollution Cess as on FY 2008‐09

The Petitioner requests the Hon’ble Commission to allow the additional 17.96 crs (49.96‐

32.00) to be recovered as pass through.

The Petitioner is also planning to repay its arrears of cess dues in a phased manner. The

Petitioner humbly requests the Hon’ble Commission to grant automatic approval of

recovery of such charges as these are pass through in nature.

1.7 Annual Payment of Statutory Charges like Water Cess, Payment to

Pollution Control Board, Regulatory Fee, etc

In the tariff Petition for FY 2008‐09, the Petitioner had sought recovery of ‘duties, taxes

payable to Government or local authorities (like Pollution Cess, rates and taxes including


Fringe Benefit Tax, Forest Cess) and fees payable to UPERC as separate pass through in

tariff as these are payments being statutory in nature and imposed by law”

The Hon’ble Commission in Para 6.2.2 of FY 2008‐09 Tariff Order had allowed such items –

“The Commission allows recovery of Pollution Cess liabilities, rates and taxes and fees

payable to the Commission on actual basis and same shall be recovered as additional

O&M”

Also the Hon’ble Commission in Para 21 (iv) (d) of UPERC (Terms & Conditions of

Generation Tariff) Regulations 2009 has allowed such items –

“The expenses on regulatory fee, payment to pollution control board, fringe benefit tax,

impact of pay revision, cost of water and water cess shall be paid additionally at

actuals”

Thus the Petitioner seeks recovery of such items as separate pass through basis as and

when they are incurred and paid.

1.8 Finance & Bank Charges

The Finance charges, guarantee fees and bank charges remain un‐recovered as the

regulations do not provide for them explicitly. These costs are incidental with raising of

debt. The Hon’ble Commission had allowed such expenses in the Tariff Order for FY 2008‐

09. The Petitioner cannot project such expenses as the likely impact & incidence of charges

varies from situation to situation. For example, in the past the GoUP has levied guarantee

fees on some loans guaranteed by it, however in other cases it has also given a waiver on

guarantee fees

The Petitioner requests the Hon’ble Commission to allow such charges as separate pass

through in tariff based on actual payment.

1.9 Payment of Service Tax on CISF Services

The power stations of the Petitioner are important assets which need to be manned and

protected. The responsibility of such safety and security has been entrusted to premier


defence organization CISF. The annual liability of the Petitioner for the last four years is

shown in table below:

Table – Annual Liabilities towards CISF

Power Station FY 2005

06 (Audited)

FY 200607

(Audited)

FY 200708

(Audited)

FY 200809

(Prov) Total

Panki 4.69 5.39 5.74 6.74 22.57

Consequent upon replacement of “Commercial Concern” in definition of various taxable

services by a “Person” through the changes made in the Finance Bill 2006, CISF services

provided against consideration have been covered under the category of “Security Agency

Service” as defined under Section 65(94) read with Section 65 (105) (w) of the Finance Act,

1994 for payment of Service Tax w.e.f 01.05.2006.

However since CISF provides its services to PSUs and other client organizations under the

directions of Ministry of Home Affairs and cost of deployment is also recovered from the

user PSUs/client organizations in such a manner as the Central Government may from time

to time specify, in accordance with the provisions contained in Rule 73 of the CISF Rule

2001

In this regard CISF and Ministry of Home Affairs had moved an application with Ministry of

Finance for Exemption from Service tax on the security services provided by it.

After examination in consultation with Ministry of Finance, Department of Revenue it has

now been decided by Ministry of Home Affairs that Service Tax is payable by CISF w.e.f.

from 1st April 2009.

Service tax is to be paid by the service provider (CISF) who in turn would bill the service

receiver (Petitioner in this case) for the service tax amount.

The current service tax rate is 10.3% and the annual impact of service tax would be

considerable. The Petitioner requests the Hon’ble Commission to allow recovery of such

service tax (additionally other than from O&M) as separate pass through as service tax is a

statutory liability.


1.10 Expenses towards implementation of ABT

The Hon’ble Commission has recommended for implementation of Availability Based Tariff

(ABT) regime in the state. Accordingly UPRVUNL has geared up to prepare the necessary

requisite infrastructure for its adoption and its smooth running. In this regard it has made

significant investments are given in table below:

Table: Capital Expenditure on ABT Implementation

Power Station Material supply

Installation & AMC

Total (Rs Crs)

Panki 0.36 0.22 0.59

The Hon’ble Commission in Para 18 (6) of the UPERC (Terms & Conditions of Generation

Tariff) Regulations 2009 has stated:

“Cost on implementation of ABT shall be allowed as additional capital expenditure in

tariff”

Accordingly the Petitioner’s requests the Hon’ble Commission to allow capitalization of

such expenditure in FY 2009‐10

1.11 Imported Coal Usage

The Petitioner submits that as per the correspondence received from the Ministry of Power

which submits that the complete coal requirement of the Petitioner cannot be materialized

from Coal India Limited. Also the quality of indigenous coal received by the Petitioner has

been declining over the years. As a consequence the Petitioner has entered into an

agreement with MMTC Ltd (a Government of India Enterprise) for the supply of imported

coal to the tune of 3.36 lac MT.

The scope of such agreement with MMTC Ltd includes import coal to Mundra/other west

coast Indian port, arranging vessels, stevedoring, handling, and storage, port clearances,

arranging Railway rakes, loading, transportation and delivery at UPRVUNL power stations.

All other activities for clearing and forwarding of the consignments like customs clearance,

coordination with Port, Railways and any statutory authorities shall also be the


responsibility of MMTC Ltd. Unloading of coal at Power Stations end from Railway Wagons

shall be arranged by the Petitioner.

The price of Coal to be supplied shall comprise Coal price arrived at based on the concept

and formulae for re‐fixation of price for supply of imported coal to UPRVUNL, linking the

FOB prices and Ocean freight with CERCs methodology of indexation, fixed component and

Actual cost as given below:

A. Coal Price – C&F price of US$ 179.00 (firm US Dollar rate per Metric Tonne (PMT)

converted into Indian Rupees on the basis of applicable exchange rate.

B. Fixed Component – Stevedoring, Handling, Clearing & Forwarding charges & MMTC

Ltd’s Service Charges @ Rs 35/‐ per Metric Tonne

C. As per Actuals – Customs Duty, Railway Freight, Insurance Charges, Sales tax/VAT

and other statutory duties & Port charges

The technical specifications of imported coal as per agreement are given below:

Table: Technical Specifications of Imported Coal

Parameter Unit Acceptable RangeTotal Moisture % 10‐20 max

Ash % 8‐20'Fixed Carbon % 30‐50 typicalVolatile Matter % 25‐45

Sulphur % 0.70 ‐ 0.90 MaxGross Calorific Value kcal/kg 5800 ‐ 6500

HGI ‐ 45‐60Size mm 0‐50

The price basis of imported coal is as follows

• Gross Calorific Value – 6300 kcal/kg • Total Moisture – 16% • Ash – 10% • Sulphur – 0.8%

It may be appreciated that imported coal although has a better GCV than domestic coal,

however, the price of imported coal and its calorific value vis‐à‐vis the price and GCV of

domestic coal are not linearly proportional. The same effectively means that usage of


imported coal will essentially lead to increase in cost of generation of the plant. The

decision for usage of imported coal is not based on the cost‐benefit analysis but is rather an

outcome of the limitations of choice which is purely beyond the control of the Petitioner

1.12 Incentive

The Petitioner would be raising bills for recovery of incentive for which it is entitled to in

terms of the Tariff regulations of the Commission for the control period of FY 2009‐10 to

FY 2013‐14. Accordingly, for the same the Petitioner is not making any specific submission

1.13 Taxes on Income

The tariff regulations issued by the Commission provides that tax on the income streams of

the generating company from its core business shall be computed as an expense and shall

be permitted to be recovered. The income tax shall be recovered through the mechanism of

tax escrow account.

1.14 Milestones achieved in FY 200809

The Petitioner has tried to improve its performance with overall concerted efforts. There

have been some significant milestones achieved in FY 2008‐09 which the Petitioner has

presented in the table below:

S. No. Particulars Milestone Achieved

Date

1 Highest ever generation on a single day 76.545 MU 21st Feb 2009

2 Highest ever PLF on a single day 79.10% 21st Feb 2009

3 Highest ever peak Load 3257 MW 22nd Feb 2009 03.00 hrs

4 Highest ever monthly generation 2189.068 MU Jan‐095 Highest ever monthly PLF 73.16% Jan‐09

6 Highest ever monthly generation achieved by 3X210 MW Anpara ‘A’ TPS 464.129 MU Jan‐09

7 Highest ever monthly PLF achieved by 3X210 MW Anpara ‘A’ TPS 99.02% Jan‐09


2. ANNUAL REVENUE REQUIREMENT & MULTIYEAR TARIFF PETITION

OF ‘PANKI TPS’

The following sections detail the Annual Revenue Requirement and Tariff Petition of

PankiTPS for the five year control period of FY 2009‐10 to FY 2013‐14

2.1. Annual Capacity (Fixed Charges) Charges

As per tariff regulations the annual capacity (fixed) charges consist of

a. Interest on Loan Capital

b. Depreciation including Advance against Depreciation

c. Return on Equity

d. Operation and maintenance expenses including insurance and

e. Interest on Working Capital

f. Compensation Allowance

2.1.1. Gross Fixed Assets

In the Tariff Petition for FY 2008‐09, the Petitioner had submitted detailed asset wise list of

its fixed assets upto FY 2006‐07. Further in the course of finalization of tariff order for FY

2008‐09, additional submissions were made by the Petitioner whereby it had provided the

Provisional Gross fixed assets value for FY 2007‐08.

The statutory audit of the financial statements of the Petitioner for FY 2007‐08 was

completed on July 21, 2009. Based on such audited financial statements upto FY 2007‐08 &

the provisional financial statements for FY 2008‐09, the summary of year wise Gross Fixed

Asset values is as per table below


Table: Gross Fixed Assets Summary FY 2004FY2009 (Rs in Crs)

(All figures in Rs Crs)

Power StationFY 04 Audited

FY 05 Audited

FY 06 Audited

FY 07 Audited

FY 08 Audited

FY 09 Provisional

Anpara 'A' 778 780 791 797 808 813

Anpara 'B' 4706 4708 4712 4713 4725 4730

Obra 'A' 113 113 113 113 155 262

Obra 'B' 478 484 485 485 485 485

Harduaganj 250 250 271 274 274 274

Panki 153 161 161 172 173 174

Parichha 209 211 223 225 222 222

Parichha Extn. 0 0 0 832 1705 1710

Total 6687 6706 6755 7610 8547 8669

For the purpose of this MYT Petition, the Petitioner has considered the opening Gross Fixed

Assets for FY 2009‐10 on the basis of Provisional Accounts of FY 2008‐09 and Audited

Accounts for FY 2007‐08. Further, Gross Fixed Assets for each of the plants is projected

based on the capitalization plan for the control period of FY 2009‐10 to FY 2013‐14. The

details of such capitalization have been shown in the specific formats annexed to this

petition. The R&M/Refurbishment & Up‐rating schemes have been discussed in the

foregoing sections.

Table: Panki TPS Gross Fixed Assets Summary FY 200910 to FY 201314


Power Station FY 10 FY 11 FY 12 FY 13 FY 14

Opening GFA 174.18 174.77 174.77 443.92 724.77

Captalisation during the Year 0.59 ‐ 269.15 280.85 ‐

Closing GFA 174.77 174.77 443.92 724.77 724.77


2.1.2. Interest on Loan Capital

GoUP vide transfer scheme notification dated 25th January 2001 had transferred the

following loans to the Petitioner

Table: Loans Received in Transfer Scheme

Generic Loans Rs Crs

Public Bonds 470.27

IDBI ‐ Deferred Credit 60.77

LIC Loan 453.75

PFC Loans 74.83

CEA ‐ GoI Loan 20.33

Foreign Currency Loan 218.12

Total 1298.07

(Note: Out of the above Bonds and one PFC Loan of Obra Crash are still due)

In the month of March 2008, the Petitioner has settled its LIC loan liability. In a One‐time

Settlement, LIC has accepted Rs 500 crores to liquidate its long standing debt. PFC has

provided financing of this amount at monthly repayment of Rs 4.167 crore over 120

installments. This has substantially optimized the interest cost of the Petitioner. Further a

Hudco Loan (Generic) totalling Rs 100 crs was also added in FY 2004‐05 & FY 2005‐06

The Opening Balance of Generic Loans as on April 1, 2009 is as per table below:

Table : Station wise Opening Balances of Generic Loans as on April 1, 2009

(All figures in Rs Crs) Financial Institution

Anpara A Anpara B Obra A Obra BHarduaganj

Panki Parichha Total

Public Bonds 17.99 105.17 3.45 10.79 6.10 3.84 4.95 152.28

HUDCO 1.57 9.20 0.30 0.94 0.53 0.34 0.43 13.32

PFC‐LIC OTS 53.18 310.78 10.19 31.87 18.01 11.35 14.62 450.00

UP Govt. Loan 25.89 151.31 4.96 15.52 8.77 5.52 7.12 219.09

Total 98.63 576.46 18.91 59.12 33.41 21.05 27.11 834.69


The Petitioner reiterates that it had inherited a portfolio of loans from erstwhile UPSEB and

station/project wise allocation of loans was not provided in the transfer scheme.

Considering the above, the loans have been allocated to various projects considering the

following principles

• The loans which are clearly identifiable with the project have been assigned to the

project only

• The loans which are not identifiable directly with the project have been allocated

among plants in the ratio of their GFA balance

All loans except the loans from PFC are corporate loans and are not associated with any

plant. Loan balances along with interest cost of these loans have been allocated among

existing plants in the ratio of their GFA balances. There is one PFC loan No 08104005 (Obra

Crash) which was received in transfer scheme. The same has been allocated among Obra A

and Obra B based on their GFA balances. None of the corporate loans have been allocated to

Parichha Extn (2x210 MW). The PFC loan of Rs 500 cr (LIC‐OTS) and its interest cost has

been allocated among all existing plants except Parichha Extn in the ratio of GFA balances,

as this loan has been taken to extinguish a prior debt.

The petitioner has continued with this approach for allocation of interest expenses for such

common loans for the control period.

The Petitioner takes Project Loans from PFC to fund its capacity addition & R&M scheme

loans. Loans from PFC are project specific and these loans have been added to the

allocation of the corporate loans to arrive at the total loans as well as interest cost for each

plant. Actuals loan drawls upto June 2009 have been taken into account for the Interest

calculations. For computation of interest charges the Petitioner has considered the actual

interest rate wherever the rate of interest is fixed as per loan agreement & in cases where

the interest rate is flexible the SBI PLR as on 01.04.2009 of 12.25% has been considered

The plant wise details of all the existing and new scheme loans are provided in the relevant

forms prescribed by the Commission. However a summary of the generic and corporate

loan balances, drawls and repayments along with Interest cost is summarized in Table

below


Table: Panki TPS Summary of Interest on Loan for the Control Period (All figures in Rs Crs)

Particulars FY 09 FY 10 FY 11 FY 12 FY 13 FY 14Generic LoansHUDCOOpening Balance 1.01 0.34 ‐ ‐ ‐ ‐ Less: Repayment 0.67 0.34 ‐ ‐ ‐ ‐ Closing Balance 0.34 Interest 0.09 0.03 ‐ ‐ ‐ ‐ Public BondsOpening Balance 5.46 3.84 2.10 1.05 ‐ ‐ Less: Repayment 1.62 1.74 1.05 1.05 ‐ ‐ Closing Balance 3.84 2.10 1.05 Interest 0.52 0.33 0.18 0.10 ‐ ‐ UP Govt. LoanLoan Balance 5.52 5.52 5.52 5.52 5.52 5.52 Interest 0.89 0.96 0.96 0.96 0.96 0.96 PFC LIC OTSOpening Balance 12.61 11.35 10.09 8.83 7.56 6.30 Less: Repayment 1.26 1.26 1.26 1.26 1.26 1.26 Closing Balance 11.35 10.09 8.83 7.56 6.30 5.04 Interest 1.39 1.27 1.12 0.98 0.82 0.67 Project SpecficPFC

Loan No. 8304010 (R&M)

Opening Loan 12.21 10.77 9.34 7.90 6.46 5.03 Less: Repayment 1.44 1.44 1.44 1.44 1.44 1.44 Closing Balance 10.77 9.34 7.90 6.46 5.03 3.59 Interest 0.83 0.79 0.68 0.58 0.48 0.37 Proposed Uprating for U#3 & 4 (2x105MW)

Opening Loan ‐ ‐ ‐ 176.00 352.00 429.00 Add: Drawal ‐ ‐ 176.00 176.00 88.00 ‐ Less: Repayment ‐ ‐ ‐ ‐ 11.00 44.00 Closing Balance 176.00 352.00 429.00 385.00 Interest ‐ ‐ ‐ 1.68 41.20 50.54 SummaryTotal LoansOpening Loan 36.81 31.82 27.05 199.30 371.55 445.86 Add: Drawals ‐ ‐ 176.00 176.00 88.00 ‐ Less: Repayment 4.99 4.77 3.75 3.75 13.70 46.70

Closing Balance 31.82 27.05 199.30 371.55 445.86 399.16

Interest 3.72 3.37 2.94 4.29 43.45 52.53


2.1.3. Depreciation including Advance Against Depreciation

2.1.3.1. Depreciation

It is noteworthy to mention that the Hon’ble Commission had considered Average Rate of

Depreciation @ 3.54% for Obra A, Obra B, Harduaganj & Panki and 3.56% for Panki,

Anpara B & Parichha Extn in the MYT order for 2005‐06 to 2007‐08. At that time the asset

wise break up of gross fixed assets was not provided by the Petitioner.

However in the tariff petition for FY 2008‐09 the Petitioner had provided detailed asset

wise list of Gross Fixed Asset for each plant. Even though such list was submitted, the

Hon’ble Commission considered average rate of depreciation at 3.54% & 3.56% in the

Tariff order for the Petitioner of FY 2008‐09.

The Petitioner reiterates that the detailed asset wise list is now available with the Hon’ble

Commission. Such values are in accordance with the audited financial statements of the

Petitioner. The rates of depreciation prescribed by the Hon’ble Commission in Appendix 2

of the Generation Tariff Regulations prescribe different depreciation rates for different

assets. In such circumstances it would only be fit to consider station wise depreciation

calculated at the rates prescribed in Appendix 2 for different asset classes and not at the

average rate.

The value of Gross Fixed Assets has been discussed in foregoing sections. The Petitioner

has calculated station wise depreciation, on the Gross Fixed Asset (GFA) value of all the

plants owned by it, at the rates specified in the Appendix 2 of Generation Tariff Regulations

2009.


Table: Panki TPS Depreciation Summary for the Control Period (All figures in Rs Crs)

GFA Dep GFA Dep GFA Dep GFA Dep GFA DepLand & Land Rights 0.00% 1.5 ‐ 1.5 ‐ 1.5 ‐ 1.5 ‐ 1.5 ‐ Land Owned Under Full Title 0.00% 0.1 ‐ 0.1 ‐ 0.1 ‐ 0.1 ‐ 0.1 ‐ Land Heled Under Lease 0.00% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Buldings 3.60% 74.6 2.7 74.6 2.7 74.6 2.7 74.6 2.7 74.6 2.7 Bldgs‐Thermao‐Elect.Gene.Plant 3.60% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Office Buldings 3.60% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Residential Coloney For Staff 3.60% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Other Building 3.60% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Hydraulic Workes 3.60% 3.4 0.1 3.4 0.1 3.4 0.1 3.4 0.1 3.4 0.1 Other Civil Work 3.60% 7.6 0.3 7.6 0.3 7.6 0.3 7.6 0.3 7.6 0.3 Plant & Machinery 3.60% 49.8 1.8 49.8 1.8 210.3 7.6 377.8 13.6 377.8 13.6 Boiler Plant & Equipment 3.60% 22.1 0.8 22.1 0.8 93.3 3.4 167.6 6.0 167.6 6.0

Turbine Gen. Steam Pwr Gene. 3.60% 3.0 0.1 3.0 0.1 12.7 0.5 22.8 0.8 22.8 0.8

Auxilaries In Steam Pwr Plant 3.60% 3.4 0.1 3.4 0.1 14.2 0.5 25.4 0.9 25.4 0.9 Coal Handling Plant & Handlg Eqpt 3.60% 4.5 0.2 4.5 0.2 18.9 0.7 33.9 1.2 33.9 1.2

Plt‐Foundtn Hydel Pwr‐Gene‐Plt 3.60% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Trans Plt Tranfs Rating 100Kva 3.60% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Materials Handlg Eqpt‐Earth Hover 3.60% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Switch Gear Incdg Cable Connts 3.60% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Batteries Inclu. Charg Eqpt 3.60% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Commu. Eqpt Teleph. & Tele 3.60% 0.0 0.0 0.0 0.0 0.1 0.0 0.2 0.0 0.2 0.0 Tools & Tackles 3.60% 0.2 0.0 0.2 0.0 0.6 0.0 1.2 0.0 1.2 0.0 Other Misc. Eqpt. 3.60% 0.6 0.0 0.6 0.0 2.6 0.1 4.6 0.2 4.6 0.2 Lines Cable Network Etc. 3.60% 2.8 0.1 2.8 0.1 2.8 0.1 2.8 0.1 2.8 0.1 Vehicles 0.00% 0.3 ‐ 0.3 ‐ 0.3 ‐ 0.3 ‐ 0.3 ‐ Vehicles 18.00% 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Heavy Vehicles 18.00% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Jeeps & Moter Cars 18.00% 0.1 0.0 0.1 0.0 0.1 0.0 0.1 0.0 0.1 0.0 Others Vehicles 18.00% 0.2 0.0 0.2 0.0 0.2 0.0 0.2 0.0 0.2 0.0 Furnitures & Fixtures 0.00% 0.1 ‐ 0.1 ‐ 0.1 ‐ 0.1 ‐ 0.1 ‐ Furnitures & Fixtures 6.00% 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

Furnitures & Fixtures Used In Hotel Restrnt. Bording House , Scol., Coll., Lib. & Meeting Hall

6.00% 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

Office Eqpt 0.00% 0.2 ‐ 0.2 ‐ 0.2 ‐ 0.2 ‐ 0.2 ‐ Office Eqpt. 6.00% 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Photostat Mach. 6.00% 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Computer 6.00% 0.1 0.0 0.1 0.0 0.1 0.0 0.1 0.0 0.1 0.0 Other 6.00% 0.1 0.0 0.1 0.0 0.1 0.0 0.1 0.0 0.1 0.0 Capital Spares Genrating Stations (95%) 3.60% 0.2 0.0 0.2 0.0 0.2 0.0 0.2 0.0 0.2 0.0

Total 175 6 175 6 444 16 725 26 725 26

FY 10Particulars

Dep. Rate

FY 11 FY 12 FY 13 FY 14


2.1.3.2. Advance against depreciation (AAD)

Depreciation is provided as replacement cost of assets. Advance against Depreciation is

provided to generator to ensure that he has enough cash resources to meet the loan

repayment liability.

CERC in its CERC (Terms and Conditions of Tariff) Regulations 2009 have withdrawn the

concept of Advance Against Depreciation and have increased the depreciation rates as per

Appendix III to the notified regulations. The rates of depreciation for the first 12 years of a

plant from the date of commercial operation would be 5.28% and the remaining

depreciable value as on 31st March of the year closing after a period of 12 years from date

of commercial operation shall be spread over the balance useful life of the assets.

UPERC in the Draft generation regulations have retained the concept of Advance Against

Depreciation. Para 21 (ii) (b) of the Generation Tariff Regulations 2009 provide for

Advance Against Depreciation –

“In addition to allowable depreciation, the generating company shall be entitled to

Advance Against Depreciation, computed in the manner given hereunder:

AAD = Loan repayment amount as per regulation 21 (i) subject to a ceiling of

1/10th of loan amount as per regulation 20 minus depreciation as per schedule

Provided that Advance Against Depreciation shall be permitted only if the cumulative

repayment up to a particular year exceeds the cumulative depreciation up to that year;

Provided further that Advance Against Depreciation in a year shall be restricted to the

extent of difference between cumulative repayment and cumulative depreciation up to

that year”

Advance Against Depreciation makes available funds to meet loan repayment in the years

where normative depreciation is lower than loan repayment. The funding pattern of the

Petitioner’s loans for capacity additions & R&M schemes is 70:30 debt to equity (in some

cases it varies upto 80:20 also) which is in line with the prescribed debt equity ratio in

tariff regulations. However, the tenure of loan which the Petitioner has tied up, ranges from

10 to 12 years. As against this, the depreciation allowed is at an amortization rate which


assumes a life cycle of a plant of 25 years. This brings consequential matching difference

between loan repayment liability & depreciation allowed in the initial years.

The following table highlights the matching difference between the allowable depreciation

and repayment schedule

Particulars Value to be amortized No of years Annual Value

Depreciation 90% (balance 10% residual value)

25 years (useful life) 90%/25 = 3.60%

Loan 70% (Normative Debt)

10 years (loan repayment 70%/10 = 7.00%

The First Generation Tariff Regulations were implemented from FY 2005‐06. As such the

cumulative depreciation claimed in tariff before FY 2005‐06 could not be determined. The

Petitioner has inherited many generic loans from the erstwhile UPSEB and hence the

cumulative repayments also cannot be determined. Hence Advance Against Depreciation is

not being claimed by the Petitioner against any old loans.

The Petitioner has many new capacity addition plans and implementing various R&M /

Refurbishment & Up‐rating schemes for its power stations which are under various stages

of development. For such schemes it has contracted loans from PFC to fund such schemes.

The loan repayment tenure of such loans varies from 10‐12 years whereas depreciation

available against such capitalizations in only around 3.60%.

In the following table the Petitioner has provided the calculation of advance against

depreciation for the power station. AAD has been calculated as per the prescription of

generation tariff regulations w.r.t. to the depreciation related to capitalization of new

project loans/ additional capitalization of R&M scheme and repayment related to such new

project loan/ R&M scheme loan only


Table: Panki TPS Advance Against Depreciation for the Control Period



Capital Cost ‐ ‐ 269.15 550.00 550.00

Gross Loan Amount ‐ ‐ 440.00 440.00 440.00

1/10th of Loan ‐ ‐ 44.00 44.00 44.00

Repayment ‐ ‐ ‐ 11.00 44.00

Dep. Charged ‐ ‐ 0.81 15.59 19.80

Cum. Repayment ‐ ‐ ‐ 11.00 55.00

Cum. Depreciation ‐ ‐ 0.81 16.39 36.19

AAD 18.81

2.1.4. Return on Equity

At the time of transfer scheme the equity which stood in the books of UPRVUNL was Rs

252.805 crores. GoUP vide transfer scheme notification dated 25th January 2001 had

provided equity of Rs 1,511.44 crores to the Petitioner.

The equity received in transfer scheme of Rs 1,511.44 and Rs 252.805 crores equity

pertaining to UPRVUNL equity as on 14.01.2000 has been allocated among existing plants

except Parichha Extn in the ratio of their GFA balances.

Table: Allocation of Common Equity


Power Station FY 00 FY 01

Anpara 'A' 29.48 176.26

Anpara 'B' 178.35 1066.29

Obra 'A' 4.28 25.60

Obra 'B' 17.90 106.99

Harduaganj 9.48 56.66

Panki 5.56 33.24

Parichha 7.76 46.40Total 252.81 1511.44

PANKI _MYT Petition for Determination of Tariff Page 33

The year wise plant wise total equity employed is given in the table below: Table – Yearwise Equity Employed

(All figures in Rs. Crores) Heads FY 00 FY 01 FY 02 FY 03 FY 04 FY 05 FY 06 FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14

UPRVUNL Own Equity 253 253 253 253 253 253 253 253 253 253 253 253 253 253 253 Equity received in Transfer Scheme 1,511 1,511 1,511 1,511 1,511 1,511 1,511 1,511 1,511 1,511 1,511 1,511 1,511 1,511

Anpara 'A' ‐ ‐ ‐ ‐ ‐ ‐ 3 14 14 14 70 155 171 171 171

Anpara 'B' ‐ ‐ ‐ 33 33 34 34 34 34 34 87 173 173 173 173

Obra 'A' ‐ ‐ ‐ ‐ ‐ ‐ 81 110 110 110 110 146 146 146 146

Obra 'B' ‐ ‐ ‐ ‐ ‐ ‐ ‐ 95 245 317 327 327 327 327 327

Harduaganj ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 16 76 106 106 106 106 106 Panki ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 100 110 110 110 110 Parichha ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 23 55 55 55 55 Parichha Extn (2x210 MW) ‐ ‐ ‐ ‐ ‐ ‐ 277 343 343 343 365 365 365 365 365 Parichha Extn (2x250MW) ‐ ‐ ‐ ‐ ‐ ‐ ‐ 107 307 505 570 707 707 707 707 Harduaganj Extn (2x250MW) ‐ ‐ ‐ ‐ ‐ ‐ ‐ 100 300 442 517 782 782 782 782 Anpara D ‐ ‐ ‐ ‐ ‐ ‐ ‐ 18 418 611 1,020 1,020 1,020 1,020 1,020 ESP Installation (CREP works) ‐ ‐ ‐ ‐ ‐ ‐ ‐ 10 50 93 123 123 123 123 123 Obra C ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 345 345 345 345 345 Panki Extn ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 85 85 85 85 85 Harduaganj Extn 2 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 170 170 170 170 170 Fatehpur ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 50 50 50 50 50 Anpara C ‐ ‐ ‐ ‐ ‐ ‐ 1 1 1 1 1 1 1 1 1 Equity for Coal Dues ‐ ‐ ‐ ‐ ‐ 334 334 334 334 334 334 334 334 334 334

Total 253 1,764 1,764 1,797 1,797 2,133 2,495 2,931 3,937 4,645 6,167 6,817 6,833 6,833 6,833 (Note: The equity additions in control period for plants under development stage like Anpara D, Obra C, Fatehpur, Panki Extn, Harduaganj Extn etc have not been projected for the purpose of above table. However upto FY 2008‐09 the actual equity employed has been taken into account)


Further, the year‐wise equity employed along with the nature of scheme under which it has

been received is given in table below:

Table – Unit wise Equity Employed (All figures in Rs Crs)

Particulars FY 06 FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14

Allocation of UPRVUNL own Equity 6 6 6 6 6 6 6 6 6

Allocation of Transfer Scheme Equity 33 33 33 33 33 33 33 33 33

Up‐Rating of U#3 & 4 ‐ ‐ ‐ ‐ 100 110 110 110 110

Total 39 39 39 39 139 149 149 149 149

As per the Generation Tariff Regulations, equity would be eligible for return when the asset

is commissioned. Based on the commissioning & capitalization programme which has been

discussed in foregoing sections, the table below provides the summary of equity base

eligible for return and the Return on Equity claimed by the petitioner for the control

period:

Table: Return on Equity for the Control Period (FY 200910 to FY 201314)



Equity Base 39 39 94 149 149

ROE (%) 15.5% 15.5% 15.5% 15.5% 15.5%

Return on Equity (Rs. Cr.) 6.01 6.01 14.54 23.06 23.06


2.1.5 Operation & Maintenance Expenses

2.1.5.1 Base O&M Expenses

Para 21 (iv) of UPERC (Terms & Conditions of Generation Tariff) Regulations 2009 deals

with the allowance of O&M expenses. The Hon’ble Commission in the generation tariff

regulations – Para 21 (iv) (b) have prescribed the O&M expenses based on the levels

approved in FY 2008‐09 escalated at 5.72% annually for the control period for Obra A,

Obra B, Panki, Harduaganj & Parichha TPS. Para 21 (iv) (a) prescribes norms for all other

stations. Based on prescription of Para 21 (iv) (b) the O&M expenses allowed for the power

station is as per table below:

Table: Base O&M expense for the Control Period

Financial YearCapacity (MW)

Rate (Rs lakh / MW)

Amount (Rs Crs)

FY 2010 210 31.8 66.8FY 2011 210 33.7 70.7FY 2012 225 35.6 80.0FY 2013 240 37.6 90.3FY 2014 240 39.8 95.4

2.1.5.2 Impact of Pay Revision

The Hon’ble Commission has prescribed the mechanism for factoring in, the impact of Pay

Revision in Para 21 (iv) (d) of Generation Tariff Regulations–

“The expenses on regulatory fee, payment to pollution control board, fringe benefit tax,

impact of pay revision, cost of water and water cess shall be paid additionally at

actuals”

Pay Revision Arrears from 1st Jan 2006 upto FY 200809

The Petitioner has finalized the Pay Revision for its employees during the last quarter of FY

2008‐09. Such pay revision is implementable from 1st January 2006. However the payment

structure is spread across a number of financial years.


Financial prudence requires the Petitioner to recognize the pay revision liabilities in its

financial statements even though the payment is structured in future years.

Para 17 (a) of Accounting Standards‐1 Disclosure of Accounting Policies, issued by the

Accounting Standards Board of the Institute of Chartered Accountants of India lay –

“Prudence In view of the uncertainty attached to future events, profits are not

anticipated but recognised only when realised though not necessarily in cash.

Provision is made for all known liabilities and losses even though the amount cannot

be determined with certainty and represents only a best estimate in the light of

available information”

The Petitioner has calculated the power station wise impact of provision for arrears of pay

revision for the years 2005‐06, 2006‐07, 2007‐08 & 2008‐09. In compliance with AS‐1, the

Petitioner has recognized the liabilities of arrears of pay revision from 01.01.2006 to

31.03.2009 in the financial statements of FY 2008‐09. Accordingly the Petitioner has made

a provision of Rs 261.71 crs in the financial statements of FY 2008‐09. The year wise and

power station‐wise liabilities due to pay revision arrears are given in table below:

Table: Liabilities of Arrears due to Pay Revision (All figures in Rs Crs)

Particulars FY 2006 FY 2007 FY 2008 FY 2009 Total

Salaries (before15.01.2000) 1.63 6.57 7.06 8.94 24.20

Salaries (after15.01.2000) 0.15 0.61 0.61 0.85 2.22

Pension & Gratuity (@19.08%) 0.31 1.25 1.35 1.71 4.62

CPF (@10%) 0.02 0.06 0.06 0.08 0.22

Salary of CISF Personnel 0.15 0.60 0.60 0.25 1.61

Total 2.26 9.10 9.69 11.82 32.88

Note: The liabilities of arrears of pay revision, of employees at Headquarter have been

allocated to the power stations.

The Petitioner requests the Hon’ble Commission to allow the Petitioner to raise such bills

of arrears of pay revision to UPPCL. It would entail matching of revenue with the

expenditure in the financial statements.


Yearly Pay Revision Impact The hike in salary bill due to pay revision is being paid regularly from April 1, 2009. Only

the payment of Arrear of Pay revision from 01.01.2006 to 31.03.2009 has been structured

for payment in the future years.

The Petitioner has calculated the power station wise impact of provision for arrears of pay

revision for the years 2005‐06, 2006‐07, 2007‐08 & 2008‐09. Accordingly the Petitioner

requests the Hon’ble Commission to allow the additional impact in future years based on

the provision of FY 2008‐09 escalated at 7.5% per year to account for the semi‐annual hike

in D.A . Any further adjustment would be sought by the Petitioner in compliance with Para

21 (iv) (b) ‐

“Provided that Obra A, Obra B, Panki, Parichha and Harduaganj may approach the

Commission for adjustment in O&M expenses only on account of establishment

expenses, insurance charges and repair and maintenance based on annual audited

financial statements and prudence check.”

2.1.5.3 Projected O&M Expenses

The overall projection of O&M expenses for the years 2009‐10 to 2013‐14 is provided

below

Table: Total Projected O&M Expenses for the Control Period (All figures in Rs Crs)

Particulars FY 09 FY 10 FY 11 FY 12 FY 13 FY 14

Impact of Pay Revision Arrears from FY 2005‐06 to FY 2008‐09 32.88

Normal O&M 66.84 70.67 80.04 90.26 95.43

Yearly Pay revision impact 12.71 13.66 14.69 15.79 16.98

Total 32.88 79.55 84.33 94.73 106.06 112.40


2.1.6 Compensation Allowance

Para 21 (iv) (e) of the Generation Tariff Regulations 2009 prescribe a separate

compensation allowance unit‐wise to meet expenses in nature of capital expenditure on

replacement of minor assets based on the life of the station.

The following table summarizes the Petitioner’s entitlement for Compensation allowance:

Table: Unitwise Compensation Allowance for the Control Period (All figures in Rs Crs)

Unit No.Derated Capacity (in MW)

Date of Commercial Operation

Age of Plant as on

31.03.2009 (In Yrs)

FY 10 FY 11 FY 12 FY 13 FY 14

3 29‐Jan‐77 32.19 0.68 0.68 0.78 0.78 0.78

4 29‐May‐77 31.86 0.68 0.68 0.68 0.78 0.78

1.37 1.37 1.46 1.56 1.56


2.1.7 Interest on Working Capital

The Petitioner has worked out the working capital requirement based on the normative

parameters prescribed in Para 21 (v) of the Generation Tariff Regulations 2009. The rate of

interest has been taken at 12.25% being the Prime Lending Rate of the State Bank of India

on April 1, 2009. (A copy of the documentary proof to this effect in the form of

communication from State Bank if India is attached as Exhibit B)

The Hon’ble Commission in Note to Para 6.2.3 of the FY 2008‐09 Tariff Order for the

Petitioner had stated that the amount recoverable under Finance & Bank charges, water

cess, payment to Pollution Control Board, Regulatory fee etc and impact of pay revision

would not be accounted for the purpose of interest on working capital.

In this reference, the Petitioner would like to state that the annual impact starting from FY

2009‐10 (and not the impact of arrear from 01.01.2006 to 31.03.2009) of pay hike should

be accounted for in the calculation of working capital requirement.

Based on the above premise & taking into account the annual impact of pay hike, the

computation of interest on working capital for the control period for kind consideration

and approval of the Hon’ble Commission are as per table below:

Table: Interest on Working Capital for the Control Period (All figures in Rs Crs)


Working Capital 117.74 124.26 143.25 170.08 185.28

Rate of Interest 12.25% 12.25% 12.25% 12.25% 12.25%

Interest on Working Capital 14.42 15.22 17.55 20.83 22.70


2.1.8 Summary of Annual Capacity (Fixed) Charges

In view of the above submissions, the fixed cost of the Petitioner’s Panki TPS for the control

period under consideration works out at as under:

Table: Summary of Annual Capacity (Fixed) Charges for the Control Period (All figures in Rs Crs)


Interest on Loan 3.37 2.94 4.29 43.45 52.53

Depreciation 6.25 6.25 15.94 26.05 26.05

Advance against Depreciation 0.00 0.00 0.00 0.00 18.81

Return on Equity 6.01 6.01 14.54 23.06 23.06

O&M Expenses 79.55 84.33 94.73 106.06 112.40

Compensation Allowance 1.37 1.37 1.46 1.56 1.56

IOWC 14.42 15.22 17.55 20.83 22.70

Total 110.98 116.12 148.51 221.02 257.11

Ex‐bus Energy Sent Out 982 1,001 1,092 1,189 1,233

Fixed Cost/Unit 1.13 1.16 1.36 1.86 2.09

Graph: Fixed Cost per unit in the Control Period


2.2 Energy Charges

The following table highlights the normative parameters which the Hon’ble Commission

has prescribed for the control period of FY 2009‐10 to FY 2013‐14:

Table Normative Operating Parameters for the Control Period

Particulars Unit FY 10 FY 11 FY 12 FY 13 FY 14

Target Availability %65.00% 66.00% 67.00% 68.00% 70.00%

Target PLF %60.00% 61.00% 62.00% 63.00% 65.00%

Aux Energy Consumption %11.00% 10.80% 10.60% 10.20% 9.80%

Gross Station Heat Rate kCal/kWh3100 3070 3040 3010 2980

Specific Fuel Oil Cons ml/kWh2.50 2.40 2.30 2.20 2.10

NORMATIVE PARAMETERSAs Per Tariff Generation Regulations

for MYT FY10 to FY14

For the purpose of calculations of energy charges for FY 2009‐10, the average of the actual

GCV of coal and oil and actual cost thereof of the preceding three months (January to March

2009) has been taken for the purpose of calculations of energy charges. The Petitioner has

assumed an annual Escalation Rate of 5% in the price of fuels over the five year control

period starting from the financial year 2010‐11 upto FY 2013‐14

Energy charges for the control period have been projected based on the operating

parameters prescribed in the Generation Tariff Regulations. A summarized position of

energy charges proposed for the control period is given in Table below: (The details are

available in tariff filing formats prescribed by the Hon’ble Commission)


Table: Calculation of Energy Charges for the Control Period

Description Unit 200910 201011 201112 201213 201314

Capacity MW 210 210 225 240 240

PLF % 60% 61% 62% 63% 65%

Gross Station Heat Rate Kcal/kWh 3100 3070 3040 3010 2980

Auxiliary Energy Consumption % 11.0% 10.8% 10.6% 10.2% 9.8%

Energy Generation ‐ Gross MU 1104 1122 1222 1325 1367

Auxiliary Energy Consumption MU 121 121 130 135 134

Ex‐bus Energy Sent Out MU 982 1001 1092 1189 1233

Specific Oil Consumption ml/kWh 2.50 2.40 2.30 2.20 2.10

Wt. Avg. GCV of Oil KCal/Lt 9440 9440 9440 9440 9440

Price of Oil Rs./KL 32761 34399 36119 37925 39822

Wt. Avg. GCV of Coal kCal/kg 3444 3444 3444 3444 3444

Price of Coal Rs./MT 2253 2366 2484 2608 2739

Heat Contribution from SFO Kcal/kWh 24 23 22 21 20

Oil Consumption KL 2759 2693 2811 2914 2870

Heat Contribution from Coal Kcal/kWh 3076 3047 3018 2989 2960

Specific Coal Consumption kg/kWh 0.89 0.88 0.88 0.87 0.86

Coal Consumption MMT 0.99 0.99 1.07 1.15 1.17

Total Cost of Oil Rs Cr 9.04 9.26 10.15 11.05 11.43

Total Cost of Coal Rs Cr 222.18 234.94 266.08 299.90 321.74

Total Fuel Cost Rs Cr 231.22 244.21 276.23 310.95 333.16

Rate of Energy Charge from Secondary Fuel Oil ex‐bus Paise/kWh 9.20 9.26 9.29 9.29 9.27

Rate of Energy Charge from Coal ex‐bus Paise/kWh 226.18 234.72 243.56 252.14 261.01

Rate of Energy Charge ex‐bus per kWh Paise/kWh 235.38 243.97 252.85 261.43 270.29


Graph: Variable Cost per unit in the Control Period

2.2.1 Fuel Cost Adjustment

Regulation 22 (i) (ii) & (iii) of the Generation Tariff Regulations 2009, provide the mechanism for claiming the adjustment of rate of energy charges on account of variation in price and heat values of fuels.

“Initially, Gross Calorific Value of coal or gas or liquid fuel shall be taken as per actual of the preceding three months. Any variation shall be adjusted on month to month basis on the basis of Gross Calorific Value of coal or gas or liquid fuel received and burnt and landed cost incurred by the generating company for procurement of coal, oil, or gas or liquid fuel, as the case may be. No separate petition need to be filed with the Commission for fuel price adjustment. In case of any dispute, an appropriate application in accordance with Uttar Pradesh Electricity Regulatory Commission (Conduct of Business) Regulations 2004, as amended from time to time or any statutory reenactment thereof, shall be made before the Commission”

Accordingly the Petitioner would raise bills for recovery of Fuel Cost Adjustment.

TARIFF FILING FORMS (THERMAL

PANKI

AppendixI

PARTI

Form No. Title of Tariff Filing Forms (Thermal) Tick

FORM 1 Summary Sheet

FORM1A Calculation of Return on Equity

FORM2 Plant Characteristics

FORM3 Normative parameters considered for tariff computations

FORM 4 Details of Foreign loans

FORM5 Abstract of Admitted Capital Cost for the existing Projects

FORM5AAbstract of Capital Cost Estimates and Schedule of Commissioningfor the New projects

FORM5B Break‐up of Capital Cost for Coal based projects

FORM5C Break‐up of Capital Cost for Gas/Liquid fuel based Projects

FORM5D Break‐up of Construction/Supply/Service packages

FORM 6 Financial Package upto COD

FORM 7 Details of Project Specific Loans

FORM 8 Details of Allocation of corporate loans to various projects

FORM9 Statement of Additional Capitalisation after COD

FORM 10 Financing of Additional Capitalisation

FORM 11 Statement of Depreciation

FORM 12 Calculation of Depreciation Rate

FORM 13 Calculation of Weighted Average Rate of Interest on Actual Loans1

FORM 13A Calculation of Interest on Loans

FORM 14 Calculation of Advance Against Depreciation (AAD)

FORM 15 Calculation of Interest on Working Capital

FORM 16 Draw Down Schedule for Calculation of IDC & Financing Charges

FORM17 CALCULATION OF OPERATION AND MAINTENANCE EXPENSES

FORM18 DETAILS OF OPERATION AND MAINTENANCE EXPENSES

FORM19 IDetails/Information to be Submitted in respect of Fuel forComputation of Energy Charges

FORM19 IIDetails/Information to be Submitted in respect of Fuel forComputation of Energy Charges

FORM 20 Computation of Energy ChargesOther Information/ Doc ments

Sl. No. Information/Document Tick

1

Certificate of incorporation, Certificate for Commencment ofBusiness, Memorandum of Association, & Articles of Association (For New Station setup by a company making tariff application for thefirst time to UPERC)

2Stationwise and Corporate audited Balance Sheet and Profit & LossAccounts with all the Schedules & annexures on COD of the Stationfor the new station & for the relevant years.

3 Copies of relevant loan Agreements

4Copies of the approval of Competent Authority for the Capital Costand Financial package.

5Copies of the Equity participation agreements and necessaryapproval for the foreign equity.

7 Copies of the BPSA/PPA with the beneficiaries, if any

8 Detailed note giving reasons of time and cost over run, if applicable.

9 Any other relevant information, (Please specify)

Checklist of Forms and other information/ documents for tariff filing for Thermal Stations

Name of the CompanyName of the Power Station :Region State: UTTAR PRADESH District: KANPUR

(Rs. Cr)S. No.

ParticularsExisting 200809

200910 201011 201112 201213 201314

1 2 3 4 5 6 7 8

1.1 Depreciation FORM‐ 11 6.23 6.25 6.25 15.94 26.05 26.05

1.2 Interest on Loan FORM‐ 13A 3.72 3.37 2.94 4.29 43.45 52.53

1.3 Return on Equity FORM 1A 5.43 6.01 6.01 14.54 23.06 23.06

1.4 Advance against Depreciation FORM‐ 14 ‐ ‐ ‐ ‐ ‐ 18.81

1.5 Interest on Working Capital FORM‐ 15 16.90 14.42 15.22 17.55 20.83 22.70

1.6 O & M Expenses FORM‐18 85.81 79.55 84.33 94.73 106.06 112.40

1.7 Compensation Allowance * 1.37 1.37 1.46 1.56 1.56

Total 118.10 110.98 116.12 148.51 221.02 257.11

2.Calculation of Rate of Energy Charge(Rs./kWh)1

2.1Rate of Energy Charge from Primary Fuel (REC)p2

Paise/KWh 226.18 234.72 243.56 252.14 261.01

2.2 Rate of Energy Charge from Secondary Fuel (REC) Paise/KWh 9.20 9.26 9.29 9.29 9.27

2.3 Rate of Energy Charge ex‐bus(REC)3A,3B,3C Paise/KWh 235.38 243.97 252.85 261.43 270.29

* The detailed calculation of Compensation Allowance has been provided in the Text of the Petition as no separate form was prescribed for it.

Petitioner

PARTIFORM 1

1 Details of calculations, considering equity as per regulation, to be furnished.2 If multifuel is used simultaneously, give 2.1 in respect of every fuel individually.3A The rate of energy charge shall be computed for open cycle operation and combined cycle operation separatly in case of gas/liquid fuel fired plants.3B The total energy charge shall be worked out based on ex‐bus energy scheduled to be sent out in case of plants covered by ABT, and ex‐bus energy sent out in case of plants not covered by ABT, as the case may be.

Summary Sheet

After Stablisation

UP RAJYA VIDYUT UTPADAN NIGAM LIMITEDPANKI

3C Any escalation in fuel cost to be considered for subsequent years or FPA to take care of the escalation.

PARTIFORM 1A

Calculation of Return on Equity

Name of the CompanyName of the Power Station :

(Rs. Cr)

S.No. Particulars 200506 200607 200708 200809 200910 201011 201112 201213 201314

1 2 3 4 5 6 7 8 9 10 111.1 Capital Cost 161.30 172.45 172.52 174.18 174.77 174.77 443.92 724.77 724.77

1.2 Notional Equity 38.80 38.80 38.80 38.80 38.80 38.80 93.80 148.80 148.80

1.3 Return on Equity (%) 14.00% 14.00% 14.00% 14.00% 15.50% 15.50% 15.50% 15.50% 15.50%

1.4 Return on Equity 5.43 5.43 5.43 5.43 6.01 6.01 14.54 23.06 23.06

Petitioner


Name of the Company

Name of the Power Station

Basic characteristics of the plant1

Special Features of the Plant

Site Specific Features2

Special Technological Features3

Environmental Regulation relatedfeatures4

Any other special features

Fuel Details5

Details(1) (2) (3) (4) (5) (6) (7) & so on

U‐1 U‐2 U‐3 U‐4 U‐5 U‐6 U‐7Installed Capacity (IC) 32 32 110 110Derated Capacity (MW) Deleted Deleted 105 105Date of Commercial Operation (COD) Oct‐67 Jul‐68 Jan‐77 May‐77Type of cooling system6

Type of Boiler Feed Pump7

3 Any Special Technological feature like Advanced class FA technology in Gas Turbines, etc.4 Environmental regulation related features like FGD, ESP etc.5 Coal or natural gas . 6 Closed circuit cooling, once through cooling, ie with/without cooling tower.7 Motor driven, Steam turbine driven etc.

Plant Characteristics

PARTIFORM2

Petitioner

UP RAJYA VIDYUT UTPADAN NIGAM LIMITED

PANKI

ELECTROSTATIC PRECIPITATORS IN BOTH 105 MW UNITS

NONE

ELECTRICAL DRIVEN

2 Any site specific feature such as Merry‐Go‐Round, , Intake /makeup water systems etc. scrubbers etc.Specify all such features.

COAL FO+ HSD

1 Describe the basic characteristics of the plant e.g. in the case of a coal based plant whehter it is aconventional steam generator or circulating fludized bed combustion generator or sub‐critical oncethrough steam generator etc.

Module number or Unit number

OIL COOLING SYSTEM

COAL BASED CONVENTIONAL STEAM GENERATOR

Primary Fuel Secondary Fuel Alternate Fuels

ONCE THROUGH CONDENSER COOLING SYSTEM

NONE

PARTI

FORM3

Name of the Company


200910 201011 201112 201213 201314

(1) (2) (3) (4) (5) (6) (7)

Rate of Return on Equity % 15.50% 15.50% 15.50% 15.50% 16%Target Availability % 65.00% 66.00% 67.00% 68.00% 70.00%Target PLF % 60.00% 61.00% 62.00% 63.00% 65.00%Auxiliary Energy Consumption % 11.00% 10.80% 10.60% 10.20% 9.80%Gross Station Heat Rate kCal/kWh 3100 3070 3040 3010 2980Specific Fuel Oil Consumption ml/kWh 2.50 2.40 2.30 2.20 2.10O&M Cost Rs.Lakh/MW 31.83 33.65 35.58 37.61 39.76Cost of Coal for WC1 in Months 2 Months 2 Months 2 Months 2 Months 2 MonthsCost of Secondary Fuel Oil forWC1

in Months 2 Months 2 Months 2 Months 2 Months 2 Months

Fuel Cost for WC2 in Months NA NA NA NA NALiquid Fuel Stock for WC2 in Months NA NA NA NA NAO & M Expenses for WC in Months 1 month 1 month 1 month 1 month 1 monthMaintenance Spares for WC % 20 % of O&M 20 % of O&M 20 % of O&M 20 % of O&M 20 % of O&MRecievables for WC in Months 2 months 2 months 2 months 2 months 2 monthsPrime lending Rate of SBI as on01.04.2009 % 12.25% 12.25% 12.25% 12.25% 12.25%

Incentive Rate Paise / kWhAs per

Regulation 23(1) & 23(2)

As per Regulation

23(1) & 23(2)

As per Regulation

23(1) & 23(2)

As per Regulation

23(1) & 23(2)

As per Regulation

23(1) & 23(2)

1For Coal based generating stations

Petitioner

Normative parameters considered for tariff computations

Particulars

Year Ending March

2For Gas Turbine/Combined Cycle generating stations duly taking into account the mode of operation on gas fuel and liquid fuel


PANKI

Unit As Notified by UPERC

Name of the CompanyName of the Power StationExchange Rate at CODExchange Rate as on 31.03.2009

(Rs. Cr)Financial Year (Starting from COD)

1 2 3 4 5 6 7 8 9

DateAmount (Foreign Currency)

Exchange Rate

Amount (Rs.) Date

Amount (Foreign Currency)

Exchange Rate

Amount (Rs.)

Currency11

At the date of Drawl2Scheduled repayment date of principalScheduled payment date of interestAt the end of Financial year

Currency21

At the date of Drawl2

principalScheduled payment date of interestAt the end of Financial year

Currency31 & so on

At the date of Drawl2

principalScheduled payment date of interestAt the end of Financial year

1 Name of the currency to be mentioned e.g. US $, DM, etc. etc.2 In case of more than one drawl during the year, Exchange rate at the date of each drawl to be given.

Petitioner

NIL

PARTIFORM 4

Details of Foreign loans

200910 201011 to 201314

(Details only in respect of loans applicable to the project under petition)


PARTIFORM5

Name of the Company :Name of the Power Station :

Capital Cost as admitted by UPERC

Capital cost admitted as on________(Give reference of the relevant UPERCOrder with Petition No. & Date)

Foreign Component, if any (In Million US $or the relevant Currency)

Domestic Component (Rs. Cr.)

Foreign Exchange rate considered for theadmitted Capital cost

Total Capital cost admitted (Rs. Cr)

Petitioner

Abstract of Admitted Capital Cost for the existing Projects


NA

PETITION NO.

PARTIFORM5A


New ProjectsCapital Cost Estimates

Board of Director/ Agency approving the Capitalcost estimates:Date of approval of the Capital cost estimates:

Price level of approved estimates

Foreign Exchange rate considered for theCapitalcost estimates

Capital Cost excluding IDC & FC

Foreign Component, if any (In Million US $ or therelevant Currency)


Capital cost excluding IDC & FC (Rs. Cr)

IDC & FC



Total IDC & FC (Rs.Cr.)

Rate of taxes & duties considered

Capital cost Including IDC & FC



Capital cost Including IDC & FC (Rs. Cr)

Schedule of Commissioning

COD of Unit‐I/Block‐I

COD of Unit‐II/Block‐II

‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐

COD of last Unit/Block

Petitioner

Abstract of Capital Cost Estimates and Schedule of Commissioning for the New projects

Present Day Cost Completed Cost

As of End of ______Qtr. Ofthe year _________

As on Scheduled COD of theStation

NIL


NIL

PARTIFORM5B


As per original Estimates

As on COD

(1) (2) (3) (4) (5) (6) (7)1.0 Cost of Land & Site Development 1.1 Land 1.2 Rehabitation & Resettlement (R&R)1.3 Preliminary Investigation & Site development

Total cost ( Land & Site Development) 2.0 Plant & Equipment

2.1 Steam Generator Island2.2 Turbine Generator Island2.3 BOP Mechanical2.3.1 External water supply system2.3.2 CW system2.3.3 DM water Plant 2.3.4 Clarification plant2.3.5 Chlorination Plant2.3.6 Fuel Handiling & Storage system2.3.7 Ash Handling System 2.3.8 Coal Handling Plant2.3.9 Rolling Stock and Locomotives2.3.10 MGR 2.3.11 Air Compressor System2.3.12 Air Condition & Ventilation System2.3.13 Fire fighting System2.3.14 HP/LP Piping

Total BOP Mechanical2.4 BOP Electrical2.4.1 Switch Yard Package2.4.2 Transformers Package2.4.3 Switch gear Package2.4.4 Cables , Cable facilities & grounding2.4.5 Lighting2.4.6 Emergency D.G. set

Total BOP Electrical

2.5 C & I PackageTotal Plant & Equipment excluding taxes &Duties

2.60 Taxes and Duties2.6.1 Custom Duty2.6.2 Other Taxes & Duties

Total Taxes & Duties

Total Plant & Equipment With Taxes &Duties3.0 Initial spares4.0 Civil Works4.1 Main plant/Adm. Building

Variation (Rs. Cr.)

Reasons for

Variation

Breakup of Capital Cost for Coal based projects

Admitted Cost (Rs.

Cr.)

Break Down Cost in Rs. Crores Sl.No.


NIL


As on COD

(1) (2) (3) (4) (5) (6) (7)

Variation (Rs. Cr.)

Reasons for

Variation

Admitted Cost (Rs.

Cr.)

Break Down Cost in Rs. Crores Sl.No.

4.2 CW system4.3 Cooling Towers4.4 DM water Plant 4.5 Clarification plant4.6 chlorination plant4.7 Fuel Handiling & Storage system4.8 Coal Handling Plant4.9 MGR & Marshalling Yard4.10 Ash Handling System 4.11 Ash disposal area development4.12 Fire fighting System4.13 Township & Colony4.14 Temp. construction & enabling works4.15 Road & Drainage

Total Civil works

5.0 Construction & Pre Commissioning Expences

5.1 Erection Testing and commissioning5.2 Site supervision5.3 Operator's Training5.4 Construction Insurance5.5 Tools & Plant5.6 Start up fuel

Total Construction & Pre CommissioningExpences

6.0 Overheads6.1 Establishment6.2 Design & Engineering6.3 Audit & Accounts6.4 Contingency

Total Overheads

7.0 Capital cost excluding IDC & FC7.1 Interest During Construction (IDC)7.2 Financing Charges (FC)8.0 Capital cost including IDC & FC

Petitioner

PARTIFORM5C



As on COD

(1) (2) (3) (4) (5) (6) (7)1.0 Cost of Land & Site Development 1.1 Land 1.2 Rehabilitation & Resettlement (R&R)1.3 Preliminary Investigation & Site development

Total Land & Site Development 2.0 Plant & Equipment

2.1 Steam Turbine generator Island2.2 Turbine Generator Island2.3 WHRB Island2.4 BOP Mechanical2.4.1 Fuel Handling & Storage system2.4.2 External water supply system2.4.3 CW system2.4.4 Cooling Towers2.4.5 DM water Plant 2.4.6 Clarification plant2.4.7 Chlorination Plant2.4.8 Air condition & Ventilation System2.4.9 Fire Fighting system2.4.10 HP/LP Piping Total BOP Mechanical2.5 BOP Electrical2.5.1 Switch Yard Package2.5.2 Transformers package2.5.3 Switch gear Package2.5.4 Cable , Cable Facilities & grounding2.5.5 Lighting2.5.6 Emergency D.G. set

Total BOP Electrical2.6 C & I Package

Total Plant & Equipment excluding taxes &Duties

2.7 Taxes and Duties2.7.1 Custom Duty2.7.2 Other Taxes & Duties

Total Taxes & DutiesTotal Plant & Equipment(with taxes & Duties)

3.0 Initial spares4.0 Civil Works4.1 Main plant/Adm. Building4.2 External water supply system4.3 CW system4.4 Cooling Towers4.5 DM water Plant 4.6 Clarification plant4.7 Fuel Handling & Storage system4.8 Township & Colony

NIL


Breakup of Capital Cost for Gas/Liquid fuel based Projects

Sl.No. Break Down Cost in Rs. Crores Variation( Rs. Cr.)

Reasons for Variation

Admitted Cost (Rs.

Cr.)

PANKI


As on COD

(1) (2) (3) (4) (5) (6) (7)

Sl.No. Break Down Cost in Rs. Crores Variation( Rs. Cr.)

Reasons for Variation

Admitted Cost (Rs.

Cr.)

4.9 Temp. construction & enabling works4.10 Road & Drainage4.11 Fire Fighting system

Total Civil works

5.0 Construction & Pre Commissioning Expences

5.1 Erection Testing and commissioning5.2 Site supervision5.3 Operator's Training5.4 Construction Insurance5.5 Tools & Plant5.6 Start up fuel

Total Construction & Pre CommissioningExpences

6.0 Overheads6.1 Establishment6.2 Design & Engineering6.3 Audit & Accounts6.4 Contingency

Total Overheads

7.0 Capital cost excluding IDC & FC7.1 Interest During Construction (IDC)7.2 Financing Charges (FC)8.0 Capital cost including IDC & FC

Note:

Petitioner

1. In case of time & Cost over run, a detailed note giving reasons of such time and cost over run should be submittedclearly bring out the agency responsible and whether such time & cost over run was beyond the control of thegenerating company.

PARTI

FORM5DName of the Company :Name of the Power Stati

Sl.No.

Name/No. of Construction / Supply / Service

Package

Scope of works1

(in line with head of cost breakups as applicable)

Whether awarded through ICB/DCB/ Depatmentally/ Deposit Work

No. of bids

received

Date of Award

Date of Start of work

Date of Completion of Work

Value of Award2 in (Rs.

Cr.)

Firm or With

Escalation in prices

Actual expenditure till the completion

or up to COD whichever is earlier(Rs.Cr.)

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)

Petitioner

2 If there is any package, which need to be shown in Indian Rupee and foreign currency(ies), the same should be shown separatly alongwith the currency, the exchangerate and the date e.g. Rs.80 Cr+US$50m=Rs.280Cr at US$=Rs40 as on say 4.1.1999.

1 The scope of work in any package should be indicated in conformity of Capital cost break‐up for the coal based plants in the FORM‐5B to the extent possible. In caseof Gas/Liquid fuel based projects, cost break up in the similar manner in the relevent

NIL

Breakup of Construction/Supply/Service packages


PARTIFORM 6

Name of the CompanyName of the Power StationProject Cost as on CODDate of Commercial Operation of the Station

(Rs. Cr)

1 2 3 4 5 6 7

Loan‐I US $ 200mLoan‐IILoan‐III

and so on Loan‐ Foreign DomesticTotal loan(Rs)Equity‐

ForeignDomestic

Total Equity( Rs)Debt : Equity Ratio

2 Date of Commercial Operation means Commercial Operation of the last unit3 For example : US $, 200M etc.etc

Petitioner


NA

Currency and Amount

1 Say US $ 200m + Rs.400 Cr or Rs.1200 Cr including US $200m at an exchange rate of 1US $=Rs.40/‐

Financial Package upto COD

Financial Package as Approved Financial Package as on COD As Admitted on CODCurrency and Amount Currency and Amount

Name of the CompanyName of the Power Station

(Rs Cr)

Particulars Package1 Package2 Package3 Package4 Package5 Package6

1 2 3 4 5 6 7

Loan No. 8304010Proposed Uprating Scheme

Source of Loan PFC PFC

Currency INR INR

Amount of Loan sanctioned 15.71 440.00Amount of Gross Loan drawn upto 31.03.2008/COD 14.02 0.00

Interest Type Fixed Fixed

Fixed Interest Rate, if applicable

Base Rate, if Floating Interest

Margin, if Floating Interest No No

Are there any Caps/Floor No No

If above is yes,specify caps/floor ‐ ‐

Moratorium Period ‐ ‐

Moratorium effective from ‐ ‐

Repayment Period 10 Years 10 Years

Repayment effective from

Repayment Frequency Quarterly Quarterly

Repayment Instalment 40 40

Base Exchange Rate

Petitioner

PARTIFORM 7

Details of Project Specific Loans

1 Source of loan means the agency from whom the loan has been taken such as WB, ADB, WMB, PNB, SBI, ICICI, IFC, PFC etc.2 Currency refers to currency of loan such as US$, DM, Yen,Indian Rupee etc.


15 In case of Foreign loan,date of each drawal & repayment alongwith exchange rate at that date may be given.

5 If the Tariff in the petition is claimed seperately for various units, details in the Form is to be given seperately for all the units in the same form.6 Interest type means whether the interest is fixed or floating.7 Base rate means the base as PLR, LIBOR etc. over which the margin is to be added. Applicable base rate on different dates from the date of drawl may also be enclosed.

9 At times caps/floor are put at which the floating rates are frozen. If such a condition exists, specify the limits.

8 Margin means the points over and above the floating rate.

PANKI

3 Details are to be submitted as on 31.03.2004 for existing assets and as on COD for the remaining assets.

16 Base exchange rate means the exchange rate prevailing as on 31.03.2004 for existing assets and as on COD for the remaining assets.

14 If the repayment instalment amount and repayment date can not be worked out from the data furnished above, the repayment schedule to be furnished seperately.

13 Where there is more than one drawal/repayment for a loan, the date & amount of each drawal/repayement may also be given seperately

4 Where the loan has been refinanced, details in the Form is to be given for the loan refinaced. However, the details of the original loan is to be given seperately in the same form.

10 Moratorium period refers to the period during which loan servicing liability is not required.11 Repayment period means the repayment of loan such as 7 years, 10 years, 25 years etc.12 Repayment frequency means the interval at which the debt servicing is to be done such as monthly, quarterly, half yearly, annual, etc.


(Rs. Cr.)Particulars Package1 Package2 Package3 Package4 Package5 Package6 Package7 Total

1 2 3 4 5 6 7 8 9

Source of Loan IDBI HUDCOPUBLIC BONDS

CEA LIC UP Govt. PFC

Currency INR INR INR INR INR INR INRAmount of Loan sanctionedAmount of Gross Loan drawn upto 31.03.2009/COD ‐ 13.32 152.28 0.00 0.00 219.09 450.00 834.69

Interest Type Fixed Fixed Fixed Fixed Fixed Fixed FixedFixed Interest Rate, if applicableBase Rate, if Floating InterestMargin, if Floating Interest

Are there any Caps/Floor Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

If above is yes,specify caps/floor ‐ ‐ ‐ ‐ ‐ ‐ ‐ Moratorium Period ‐ ‐ ‐ ‐ ‐ ‐ ‐ Moratorium effective from ‐ ‐ ‐ ‐ ‐ ‐ ‐ Repayment Period ‐ ‐ ‐ ‐ ‐ ‐ ‐ Repayment effective from ‐ ‐ ‐ ‐ ‐ ‐ ‐ Repayment Frequency ‐ ‐ ‐ ‐ ‐ ‐ ‐ Repayment Instalment ‐ ‐ ‐ ‐ ‐ ‐ ‐ Base Exchange Rate ‐ ‐ ‐ ‐ ‐ ‐ ‐

Distribution of loan packages to various projectsName of the Projects TotalAnpara A ‐ 1.57 17.99 ‐ ‐ 25.89 53.18 98.63 Anpara B ‐ 9.20 105.17 0.00 ‐ 151.31 310.78 576.46 Obra A ‐ 0.30 3.45 0.00 0.00 4.96 10.19 18.91 Obra B ‐ 0.94 10.79 0.00 ‐ 15.52 31.87 59.12 Harduaganj ‐ 0.53 6.10 ‐ ‐ 8.77 18.01 33.41 Panki ‐ 0.34 3.84 0.00 ‐ 5.52 11.35 21.05 Parichha ‐ 0.43 4.95 0.00 0.00 7.12 14.62 27.11 Parichha Ext. ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Total 13.32 152.28 0.00 0.00 219.09 450.00 834.69

Petitioner

11 Repayment period means the repayment of loan such as 7 years, 10 years, 25 years etc.

5 If the Tariff in the petition is claimed seperately for various units, details in the Form is to be given seperately for all the units in the same form.6 Interest type means whether the interest is fixed or floating.

2 Currency refers to currency of loan such as US$, DM, Yen,Indian Rupee etc.

7 Base rate means the base as PLR, LIBOR etc. over which the margin is to be added. Applicable base rate on different dates from the date of drawl may also be enclosed.

PARTIFORM 8

9 At times caps/floor are put at which the floating rates are frozen. If such a condition exists, specify the limits.10 Moratorium period refers to the period during which loan servicing liability is not required.

1 Source of loan means the agency from whom the loan has been taken such as WB, ADB, WMB, PNB, SBI, ICICI, IFC, PFC etc.

13 Where there is more than one drawal/repayment for a loan, the date & amount of each drawal/repayement and its allocation may also be given seperately14 If the repayment instalment amount and repayment date can not be worked out from the data furnished above, the repayment schedule to be furnished seperately.15 In case of Foreign loan,date of each drawal & repayment alongwith exchange rate at that date may be given.16 Base exchange rate means the exchange rate prevailing as on 31.03.2004 for existing assets and as on COD for the remaining assets.

12 Repayment frequency means the interval at which the debt servicing is to be done such as monthly, quarterly, half yearly, annual, etc.

8 Margin means the points over and above the floating rate.

3 Details are to be submitted as on 31.03.2004 for existing assets and as on COD for the remaining assets.4 Where the loan has been refinanced, details in the Form is to be given for the loan refinaced. However, the details of the original loan is to be given seperately in the same form.


Details of Allocation of corporate loans to various projects

PARTI

FORM9

Name of the Company


(Rs Cr)

Sl.No. Year

Work/Equipment added after COD up to Cut off Date /

Beyond Cut off Date

Amount Capitalised / Proposed to be capitalised

Justification Admitted Cost

(1) (2) (3) (4) (5) (6)

1 2009‐10 ABT EXPENSES 0.59Allowed As Per Parra

18 (6) Of Tariff Regulations

2 2010‐11 0.00

3 2011‐12 Uprating Scheme for U#3 & 4 269.15

Increase in Gen Capacity by 2x10 MW, Life Extension by 15 Years, Improvement

in PLF

4 2012‐13 Uprating Scheme for U#3 & 4 280.85

Increase in Gen Capacity by 2x10 MW, Life Extension by 15 Years, Improvement

in PLF

5 2013‐14 0.00

TOTAL 0.00 550.59 0.00 0.00

Note:

Statement of Additional Capitalisation after COD


PANKI

1 Fill the form in chronological order year wise along with detailed justification clearly bring out the necessity and the benefitsaccruing to the beneficiaries.2 In case initial spares are purchased alongwith any equipment, then the cost of such spares should be indicated separately.e.g. Rotor ‐ 50 Crs. Initial spares‐ 5 Crs.

Petitioner


(Rs. Cr.)

Financial Year (Starting from COD)

200910 201011 201112 201213 201314 200910 201011 201112 201213 201314

1 2 3 4 5 6 7 8 9 10 11

Amount Captalized in Work/Equipment

0.59 269.15 280.85

Financing Details

PFC 214.15 225.85

Total Loan 214.15 225.85

Equity 55.00 55.00

Internal Resources 0.59

Others 0.00 0.00

Total 0.59 269.15 280.85

1 Year 1 refers to Financial Year of COD and Year 2, Year 3 etc. are the subsequent financial years respectively.2 Loan details for meeting the additional capitalisation requirement should be given as per FORM‐7 or 8 whichever is relevent.

Petitioner

PARTIFORM 10

Financing of Additional Capitalisation


Actual Admitted

PARTIFORM 11


(Rs Cr)Financial Year FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14

1 2 3 4 5 6 7 8 9 10

Depreciation on Capital Cost 5.73 5.74 6.13 6.15 6.23 6.25 6.25 15.94 26.05

Depreciation on Additional CapitalisationAmount of Additional Capitalisation 0.14 11.16 0.07 1.66 0.59 ‐ 269.15 280.85 ‐ Depreciation Amount 0.00 0.05 0.01 0.08 0.02 ‐ 9.69 10.11 ‐

Detail of FERVAmount of FERV on which depreciation charged ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Depreciation amount ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Depreciation Recoverered During the Year 5.73 5.79 6.13 6.23 6.25 6.25 15.94 26.05 26.05

Advance against Depreciation recovered during the Year ‐ ‐ ‐ ‐ ‐ 18.81

Depreciation & Advance against Depreciation recovered during the year

5.73 5.79 6.13 6.23 6.25 6.25 15.94 26.05 44.85

Cumulative Depreciation & Advance against Depreciation recovered upto the year

5.73 11.53 17.66 23.89 30.14 36.39 52.33 78.38 123.23

Petitioner

Statement of Depreciation


PARTIFORM 12


(Rs Cr.)

Sl. No.

Name of the Assets

Dep Rates as per UPERC's Dep Rate Schedule

Op. BalAdditions

Cl. Bal Dep. Op. BalAdditions





Cl. Bal Dep.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 251 LAND & LAND RIGHTS 0.00% 1.5 ‐ 1.5 ‐ 1.5 1.5 ‐ 1.5 1.5 ‐ 1.5 1.5 ‐ 1.5 1.5 ‐ 1.5 1.5 ‐ 2 LAND OWNED UNDER FULL TITLE 0.00% 0.1 ‐ 0.1 ‐ 0.1 0.1 ‐ 0.1 0.1 ‐ 0.1 0.1 ‐ 0.1 0.1 ‐ 0.1 0.1 ‐ 3 LAND HELD UNDER LEASE 0.00% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 4 BUILDINGS 3.60% 74.6 ‐ 74.6 2.7 74.6 74.6 2.7 74.6 74.6 2.7 74.6 74.6 2.7 74.6 74.6 2.7 74.6 74.6 2.7 5 BLDGS‐THERMO‐ELECT.GENE.PLANT 3.60% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 6 OFFICE BUILDINGS 3.60% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 7 RESIDENTIAL COLONY FOR STAFF 3.60% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 8 OTHER BUILDING 3.60% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 9 HYDRAULIC WORKS 3.60% 3.4 ‐ 3.4 0.1 3.4 3.4 0.1 3.4 3.4 0.1 3.4 3.4 0.1 3.4 3.4 0.1 3.4 3.4 0.1 10 OTHER CIVIL WORK 3.60% 7.0 ‐ 7.0 0.3 7.0 0.6 7.6 0.3 7.6 7.6 0.3 7.6 7.6 0.3 7.6 7.6 0.3 7.6 7.6 0.3 11 PLANT & MACHINERY 3.60% 49.8 ‐ 49.8 1.8 49.8 49.8 1.8 49.8 49.8 1.8 49.8 160.5 210.3 7.6 210.3 167.5 377.8 13.6 377.8 377.8 13.6 12 BOILER PLANT & EQUIPMENT 3.60% 22.1 ‐ 22.1 0.8 22.1 22.1 0.8 22.1 22.1 0.8 22.1 71.2 93.3 3.4 93.3 74.3 167.6 6.0 167.6 167.6 6.0 13 TURBINE GEN. STEAM PWR GENE. 3.60% 3.0 ‐ 3.0 0.1 3.0 3.0 0.1 3.0 3.0 0.1 3.0 9.7 12.7 0.5 12.7 10.1 22.8 0.8 22.8 22.8 0.8 14 AUXILIARIES IN STEAM PWR PLANT 3.60% 3.4 ‐ 3.4 0.1 3.4 3.4 0.1 3.4 3.4 0.1 3.4 10.8 14.2 0.5 14.2 11.3 25.4 0.9 25.4 25.4 0.9 15 COAL HANDLING PLANT & HANDLG EQPT 3.60% 3.0 1.5 4.5 0.2 4.5 4.5 0.2 4.5 4.5 0.2 4.5 14.4 18.9 0.7 18.9 15.0 33.9 1.2 33.9 33.9 1.2 16 PLT‐FOUNDTN HYDEL PWR‐GENE‐PLT 3.60% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 17 TRANS PLT TRANFS RATING 100KVA 3.60% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 18 MATERIALS HANDLG EQPT‐EARTH HOVER 3.60% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Calculation of Depreciation Rate


FY 201314Particulars FY 200809 FY 200910 FY 201011 FY 201112 FY 201213

19 SWITCH GEAR INCDG CABLE CONNTS 3.60% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 20 BATTERIES INCLU. CHARG EQPT 3.60% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 21 COMMU. EQPT TELEPH. & TELE 3.60% 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.1 0.1 0.2 0.0 0.2 0.2 0.0 22 TOOLS & TACKLES 3.60% 0.2 0.0 0.2 0.0 0.2 0.2 0.0 0.2 0.2 0.0 0.2 0.5 0.6 0.0 0.6 0.5 1.2 0.0 1.2 1.2 0.0 23 OTHER MISC. EQPT. 3.60% 0.6 ‐ 0.6 0.0 0.6 0.6 0.0 0.6 0.6 0.0 0.6 2.0 2.6 0.1 2.6 2.1 4.6 0.2 4.6 4.6 0.2 24 LINES CABLE NETWORK ETC. 3.60% 2.8 ‐ 2.8 0.1 2.8 2.8 0.1 2.8 2.8 0.1 2.8 2.8 0.1 2.8 2.8 0.1 2.8 2.8 0.1 25 VEHICLES 0.00% 0.3 ‐ 0.3 ‐ 0.3 0.3 ‐ 0.3 0.3 ‐ 0.3 0.3 ‐ 0.3 0.3 ‐ 0.3 0.3 ‐ 26 VEHICLES 18.00% 0.0 ‐ 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27 HEAVY VEHICLES 18.00% ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 28 JEEPS & MOTER CARS 18.00% 0.1 ‐ 0.1 0.0 0.1 0.1 0.0 0.1 0.1 0.0 0.1 0.1 0.0 0.1 0.1 0.0 0.1 0.1 0.0 29 OTHERS VEHICLES 18.00% 0.0 0.2 0.2 0.0 0.2 0.2 0.0 0.2 0.2 0.0 0.2 0.2 0.0 0.2 0.2 0.0 0.2 0.2 0.0 30 FURNITURES & FIXTURES 0.00% 0.1 ‐ 0.1 ‐ 0.1 0.1 ‐ 0.1 0.1 ‐ 0.1 0.1 ‐ 0.1 0.1 ‐ 0.1 0.1 ‐ 31 FURNITURES & FIXTURES 6.00% 0.0 ‐ 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

32FURNITURES & FIXTURES USED IN HOTEL RESTRNT. BORDING HOUSE , SCOL., COLL., LIB. & MEETING HALL

6.00% 0.0 ‐ 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

33 OFFICE EQPT 0.00% 0.2 ‐ 0.2 ‐ 0.2 0.2 ‐ 0.2 0.2 ‐ 0.2 0.2 ‐ 0.2 0.2 ‐ 0.2 0.2 ‐ 34 OFFICE EQPT. 6.00% 0.0 ‐ 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35 PHOTOSTAT MACH. 6.00% 0.0 ‐ 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36 COMPUTER 6.00% 0.1 0.0 0.1 0.0 0.1 0.1 0.0 0.1 0.1 0.0 0.1 0.1 0.0 0.1 0.1 0.0 0.1 0.1 0.0 37 OTHER 6.00% 0.0 0.0 0.1 0.0 0.1 0.1 0.0 0.1 0.1 0.0 0.1 0.1 0.0 0.1 0.1 0.0 0.1 0.1 0.0

38 CAPITAL SPARES GENRATING STATIONS (95%) 3.60% 0.2 ‐ 0.2 0.0 0.2 0.2 0.0 0.2 0.2 0.0 0.2 0.2 0.0 0.2 0.2 0.0 0.2 0.2 0.0

TOTAL 172.5 1.7 174.2 6.2 174.2 0.6 174.8 6.2 174.8 174.8 6.2 174.8 269.2 443.9 15.9 443.9 280.8 724.8 26.0 724.8 724.8 26.0

PETITIONER

PARTIFORM 13

Name of the CompanyName of Power Station

(Rs Cr)

S. No Particulars FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14

1 2 3 3 4 5 6 7 8 9 10 11 121 Loan 1 IDBI

Gross Loan Opening ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Cumlative repayments of loans upto previous year ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Net Loan Opening 0.39 0.27 0.19 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Add:‐ Drawls during the year ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Less:‐ Repayments during the year 0.12 0.08 0.19 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Net Loan Closing 0.27 0.19 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Average Net Loan 0.33 0.23 0.09 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Rate of Interest on Loan ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Interest on Loan 0.14 0.10 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

2 Loan 2 HUDCO


Net Loan Opening ‐ ‐ 1.29 2.35 1.68 1.01 0.34 ‐ ‐ ‐ ‐

Add:‐ Drawls during the year ‐ 1.29 1.24 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Less:‐ Repayments during the year ‐ ‐ 0.17 0.67 0.67 0.67 0.34 ‐ ‐ ‐ ‐

Net Loan Closing ‐ 1.29 2.35 1.68 1.01 0.34 ‐ ‐ ‐ ‐ ‐

Average Net Loan ‐ 0.64 1.82 2.02 1.34 0.67 0.17 ‐ ‐ ‐ ‐


Interest on Loan ‐ 0.02 0.13 0.20 0.15 0.09 0.03 ‐ ‐ ‐ ‐

3 Loan 3 PUBLIC BONDS


Net Loan Opening 7.58 6.52 6.52 6.52 6.51 5.46 3.84 2.10 1.05 ‐ ‐

Add:‐ Drawls during the year ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Less:‐ Repayments during the year 1.05 ‐ ‐ 0.01 1.05 1.62 1.74 1.05 1.05 ‐ ‐

Net Loan Closing 6.52 6.52 6.52 6.51 5.46 3.84 2.10 1.05 ‐ ‐ ‐

Average Net Loan 7.05 6.52 6.52 6.52 5.98 4.65 2.97 1.58 0.53 ‐ ‐


Interest on Loan 0.85 0.77 0.77 0.77 0.71 0.52 0.33 0.18 0.10 ‐ ‐

4 Loan 4 CEA


Net Loan Opening 0.25 0.17 0.06 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Add:‐ Drawls during the year ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Less:‐ Repayments during the year 0.08 0.08 0.05 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Less:‐ Tranfer to restructuring account ‐ 0.03 ‐ 0.01 ‐ ‐ ‐ ‐ ‐ ‐ ‐

Net Loan Closing 0.17 0.06 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Average Net Loan 0.09 0.03 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Rate of Interest on Loan ‐ ‐ ‐ 0.00E+00 ‐ ‐ ‐ ‐ ‐ ‐ ‐

Interest on Loan 0.17 0.18 0.18 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐


Calculation of Weighted Average Rate of Interest on Actual Loans

PARTIFORM 13


(Rs Cr)


1 2 3 3 4 5 6 7 8 9 10 11 12



5 Loan 5 LIC


Net Loan Opening 6.48 5.32 3.32 2.34 1.99 ‐ ‐ ‐ ‐ ‐ ‐

Add:‐ Drawls during the year ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Less:‐ Repayments during the year 1.17 1.99 0.99 0.87 1.99 ‐ ‐ ‐ ‐ ‐ ‐

Less:‐ Tranfer to restructuring account ‐ ‐ ‐ (0.53) ‐ ‐ ‐ ‐ ‐ ‐ ‐

Net Loan Closing 5.32 3.32 2.34 1.99 ‐ ‐ ‐ ‐ ‐ ‐ ‐

Average Net Loan 2.66 1.66 1.17 1.00 ‐ ‐ ‐ ‐ ‐ ‐ ‐


Interest on Loan 6.10 7.03 8.08 9.31 0.24 ‐ ‐ ‐ ‐ ‐ ‐

6 Loan 6 UP Govt.


Net Loan Opening 9.12 11.96 13.96 5.52 5.52 5.52 5.52 5.52 5.52 5.52 5.52

Add:‐ Drawls during the year 2.84 2.00 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Less Repayments during the year ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Less:‐ Converted into Equity ‐ ‐ 8.44 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Net Loan Closing 11.96 13.96 5.52 5.52 5.52 5.52 5.52 5.52 5.52 5.52 5.52

Average Net Loan 7.40 7.98 2.76 2.76 2.76 2.76 2.76 2.76 2.76 2.76 2.76


Interest on Loan 0.84 0.94 0.95 0.98 1.00 0.89 0.96 0.96 0.96 0.96 0.96

7 Loan 7 PFC(Project Specific)


Net Loan Opening ‐ 0.68 1.50 8.51 13.65 12.21 10.77 9.34 183.90 358.46 434.03

Add:‐ Drawls during the year ‐ 0.83 7.01 5.50 ‐ ‐ ‐ 176.00 176.00 88.00 ‐

Less Repayments during the year ‐ 0.02 ‐ 0.36 1.44 1.44 1.44 1.44 1.44 12.44 45.44

Net Loan Closing ‐ 1.50 8.51 13.65 12.21 10.77 9.34 183.90 358.46 434.03 388.59

Average Net Loan ‐ 1.09 5.00 11.08 12.93 11.49 10.06 96.62 271.18 396.25 411.31


Interest on Loan ‐ 0.05 0.35 0.95 0.93 0.83 0.79 0.68 2.26 41.67 50.90

8 Loan 7 PFC(Allocation)


Net Loan Opening ‐ ‐ ‐ ‐ ‐ 12.61 11.35 10.09 8.83 7.56 6.30

Add:‐ Drawls during the year ‐ ‐ ‐ ‐ 12.61 ‐ ‐ ‐ ‐ ‐ ‐

Less Repayments during the year ‐ ‐ ‐ ‐ ‐ 1.26 1.26 1.26 1.26 1.26 1.26

Net Loan Closing ‐ ‐ ‐ ‐ 12.61 11.35 10.09 8.83 7.56 6.30 5.04

Average Net Loan ‐ ‐ ‐ ‐ 6.30 11.98 10.72 9.46 8.20 6.93 5.67


Interest on Loan ‐ ‐ ‐ ‐ 0.03 1.39 1.27 1.12 0.98 0.82 0.67

PARTIFORM 13


(Rs Cr)


1 2 3 3 4 5 6 7 8 9 10 11 12



PARTIFORM 13


(Rs Cr)


1 2 3 3 4 5 6 7 8 9 10 11 12



9 Total Loan to this Project


Net Loan Opening 23.82 24.92 26.84 25.26 29.36 36.81 31.82 27.05 199.30 371.55 445.86

Add:‐ Drawls during the year 2.84 4.12 8.24 5.50 12.61 ‐ ‐ 176.00 176.00 88.00 ‐

Less Repayments during the year 2.42 2.17 1.39 1.92 5.16 4.99 4.77 3.75 3.75 13.70 46.70

Less:‐ Converted into Equity/Tranfer to Restructuring ‐ 0.03 8.44 (0.51) ‐ ‐ ‐ ‐ ‐ ‐ ‐

Net Loan Closing 24.24 26.84 25.26 29.36 36.81 31.82 27.05 199.30 371.55 445.86 399.16

Average Net Loan 24.03 25.88 26.05 27.31 33.08 34.31 29.44 113.18 285.43 408.70 422.51

Rate of Interest on Loan

Interest on Loan 8.10 9.08 10.46 12.21 3.07 3.72 3.37 2.94 4.29 43.45 52.53

Petitioner

Calculation of Interest on Loans


(Rs Cr)Particulars 200304 200405 200506 200607 200708 200809 200910 201011 201112 201213 201314

1 2 3 4 5 6 7 8 9 10 11 12

1.Gross loan ‐ Opening ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 2.Cumulative repayments of Loans upto previous ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 3.Net loan ‐ Opening ( 1 ‐ 2 ) 23.82 24.92 26.84 25.26 29.36 36.81 31.82 27.05 199.30 371.55 445.86 4.Increase/Decrease due to ACE during the Year 2.84 4.12 8.24 5.50 12.61 ‐ ‐ 176.00 176.00 88.00 ‐ 5.Repayments of Loans during the year 2.42 2.17 1.39 1.92 5.16 4.99 4.77 3.75 3.75 13.70 46.70 6.Converted into Equity/Tranfer to Restructuring ‐ 0.03 8.44 (0.51) ‐ ‐ ‐ ‐ ‐ ‐ ‐ 7.Net loan ‐ Closing ( 3+ 4 ‐ 5‐6) 24.24 26.84 25.26 29.36 36.81 31.82 27.05 199.30 371.55 445.86 399.16 8.Average Net Loan ( (3 + 7 ) * 0.5 ) 24.03 25.88 26.05 27.31 33.08 34.31 29.44 113.18 285.43 408.70 422.51 9.Weighted average Rate of Interest on Loans 10.Interest on loan 8.10 9.08 10.46 12.21 3.07 3.72 3.37 2.94 4.29 43.45 52.53

Petitioner

PARTIFORM 13A


PARTIFORM 14


(Rs Cr)

Particulars 200910 201011 201112 201213 201314

1 3 4 5 6 7

1/10th of the Loan(s) 44.00 44.00 44.00 44.00 44.00 Repayment of the Loan(s) asconsidered for working out Intereston Loan

‐ ‐ ‐ 11.00 44.00

Minimum of the Above ‐ ‐ ‐ 11.00 44.00 Less:Depreciation during the year 0.81 15.59 19.80 (A1) 24.20

Cumulative Repayment of theLoan(s) as considered for workingout Interest on Loan

‐ ‐ ‐ 11.00 55.00

Less: Cumulative Depreciation ‐ ‐ 0.81 16.39 36.19 (B1) 18.81 Advance Against Depreciation(Minimum of A & B) 18.81

1 If the amount is negative, it will be shown as zero.

Petitioner

Calculation of Advance Against Depreciation (AAD)


For the purpose of Calculating AAD, Annual Depreciation has been pro‐rated accordingly with respect to the proposed dates of Commissioning of the Units being under schemes of R&M/Refurbishment/Up‐rating. For this thermal power station a Up‐Rating scheme of RS. 550 Cr. has been proposed for U#3 & 4 (110 MW each). Of the above mentioned Units: U#3 is to be Commissioned in Mar‐12 & U#4 is to be Commissioned in Sep‐12

PARTIFORM 15

Name of the Company


(Rs Cr)Sl. No.

ParticularsExisting 200809

200910 201011 201112 201213 201314

1 2 3 4 5 6 7 8

1 Cost of Coal 35.39 37.03 39.16 44.35 49.98 53.62

2 Cost of Secondary Fuel Oil 1.33 1.13 1.16 1.27 1.38 1.43

3 Fuel Cost ‐ ‐ ‐ ‐ ‐ ‐

4 Liquid Fuel Stock ‐ ‐ ‐ ‐ ‐ ‐

5 O & M expenses 9.89 6.63 7.03 7.89 8.84 9.37

6 Maintenance Spares 23.74 15.91 16.87 18.95 21.21 22.48

7 Recievables 62.21 57.03 60.05 70.79 88.66 98.38

Total Working Capital 132.55 117.74 124.26 143.25 170.08 185.28

Rate of Interest 12.75% 12.25% 12.25% 12.25% 12.25% 12.25%

Interest on Working Capital 16.90 14.42 15.22 17.55 20.83 22.70

1For Coal bsaed generating stations

3 submit documentary evidence

Petitioner

Calculation of Interest on Working Capital

2For Gas Turbine/Combined Cycle generating stations duly taking into account the mode of operation on gas fuel and liquid fuel

PANKI


PARTIFORM 16


(Rs. Cr.)Draw Down

Particulars

Quantum in Foreign currency

Exchange Rate on draw down date

Amount in Indian Rupee







1 Loans1 Foreign Loans

1.1.1 Foreign Loan 1Draw down Amount IDCFinancing charges

1.1.2 Foreign Loan 2Draw down Amount IDCFinancing charges

1.1.3 ‐ ‐

1.1.4 ‐ ‐

1 Total Foreign LoansDraw down Amount IDCFinancing charges

1 Indian Loans

1.2.1 Indian Loan 1Draw down Amount ‐‐IDC ‐‐Financing charges ‐‐



1.2.4 ‐ ‐ ‐‐

1 Total Indian LoansDraw down Amount ‐‐IDC ‐‐Financing charges ‐‐

1 Total of Loans drawn IDCFinancing charges

2 Equity

2 Foreign equity drawn

2 Indian equity draw ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

Total equity deployed


PETITIONER

PANKI

Note: Drawal of debt and equity shall be on paripassu basis to meet the commissioning schedule. Drawal of higher equity in the beginning is permissible.

Draw Down Schedule for Calculation of IDC & Financing Charges

Sl. No.

Quarter 1 Quarter 2 Quarter n (COD)

NIL

Name of the Company


( Rs. Cr)

Particulars 200304 200405 200506 200607 200708 200809 200910 201011 201112 201213 201314

Audited Audited Audited Audited Audited Average Base

1 2 3 4 5 6 7 8 9 10 11 12 13

O&M data

(Base O&M on the basis of actual data)A) Total O&M Expenses 53.49 55.30 59.30 60.65 98.44 65.43 85.81 66.84 70.67 80.04 90.26 95.43

Repair & Maintenance Expenses 10.37 13.94 15.40 13.85 47.99 20.31 27.53 21.45 22.67 25.68 28.96 30.62 Administration & General Expenses 5.01 5.50 5.98 6.06 7.32 5.97 8.71 6.78 7.17 8.12 9.16 9.69 Employee Cost 33.92 31.43 32.51 35.52 36.41 33.96 39.35 30.65 32.40 36.70 41.39 43.76 Other Fuel Related Cost 3.79 4.14 5.07 4.68 6.17 4.77 9.48 7.39 7.81 8.85 9.98 10.55 Corporate office expenses allocation 0.40 0.29 0.34 0.53 0.55 0.42 0.74 0.57 0.61 0.69 0.78 0.82

B) Abnormal O&M expenses*C) Arrears of Pay Revision 32.88 D) Yearly Pay Revision Impact 12.71 13.66 14.69 15.79 16.98 E) Calculation of Base O&M (AB+C+D)

53.49 55.30 59.30 60.65 98.44 65.43 118.69 79.55 84.33 94.73 106.06 112.40

Petitioner

Tariff Period

PANKI

PARTI

FORM17

Calculation of Operation & Maintenece Expenses



( Rs. Cr)ITEMS FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14

1 2 3 4 5 6 7 8 9 10 11 12(A) Breakup of O&M expenses1 Consumption of Stores and Spares

Fuel Related Cost 2.0 2.4 3.4 2.7 2.9 5.3 4.1 4.4 5.0 5.6 5.9 Freight Variance on Coal Receipts ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Stock Shortages on Fuel Stock ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Cost of Water 0.6 0.6 0.6 0.7 0.6 0.8 0.6 0.6 0.7 0.8 0.8 Lubricants & Consumables 0.7 0.6 0.4 0.6 1.7 2.2 1.7 1.8 2.0 2.3 2.4 Station Supplies 0.5 0.5 0.7 0.8 0.9 1.3 1.0 1.0 1.2 1.3 1.4 SubTotal (Consumption of Stores & Spares)

3.8 4.1 5.1 4.7 6.2 9.5 7.4 7.8 8.8 10.0 10.5

2 Repair and MaintenancePlant and Machinery 9.0 12.3 13.3 12.0 45.9 24.7 19.3 20.4 23.1 26.0 27.5 Buildings 1.3 1.6 2.1 1.8 2.1 2.7 2.1 2.2 2.5 2.9 3.0 Civil Works 0.0 0.0 ‐ ‐ ‐ 0.0 0.0 0.0 0.0 0.0 0.0 Hydaulic Works ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Lines, Cables, networks etc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Vehicles ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Furniture and Fixtures 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Office Equipments ‐ 0.0 ‐ ‐ 0.0 0.0 0.0 0.0 0.0 0.0 0.0 R&M Charged to Capital Account ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ SubTotal (R & M Expenses) 10.4 13.9 15.4 13.9 48.0 27.5 21.4 22.7 25.7 29.0 30.6

3 Administrarive ExpensesRent ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Rates and Taxes 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.2 0.2 0.2 0.2 Insurance 0.0 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Telephone, Telex and Postage 0.0 0.1 0.1 0.1 0.1 0.2 0.1 0.1 0.1 0.2 0.2 Professional Charges 0.0 0.0 0.0 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 Conveyance and Travelling 0.2 0.2 0.1 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.2 Printing and Stationery 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Advertisement Expenses ‐ ‐ ‐ ‐ 0.1 0.2 0.1 0.1 0.2 0.2 0.2 Electricity Charges 0.7 0.6 0.6 0.2 0.8 0.9 0.7 0.7 0.8 0.9 1.0 Water Charges 0.1 ‐ 0.2 0.2 0.1 0.2 0.1 0.1 0.1 0.2 0.2 Entertainment ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Security (CISF Payments) 3.6 4.2 4.5 4.8 5.1 6.5 5.1 5.3 6.1 6.8 7.2 Other Expenses 0.1 0.1 0.1 0.1 ‐ ‐ ‐ ‐ ‐ ‐ ‐ Miscellaneous Expenses ‐ ‐ ‐ ‐ 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Vehicle Suspense Account ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Expenses charged to Capital ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ SubTotal (Administrative Expenses) 5.0 5.5 6.0 6.1 7.3 8.7 6.8 7.2 8.1 9.2 9.7

4 Employee CostSalaries 14.5 13.7 13.1 18.1 17.4 17.6 13.7 14.5 16.4 18.5 19.6 Overtime 1.8 2.0 1.7 1.2 1.1 1.2 0.9 1.0 1.1 1.3 1.3 DA 8.4 8.5 8.2 6.3 7.3 9.5 7.4 7.8 8.9 10.0 10.6 Other Allowances 1.9 1.7 1.6 1.6 1.7 2.5 2.0 2.1 2.4 2.7 2.8 Bonus ‐ 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.4 Other Staff Costs 2.9 0.9 3.5 3.4 3.6 2.6 2.0 2.1 2.4 2.7 2.9 Staff Welfare 0.1 0.1 0.1 0.1 0.3 0.3 0.2 0.3 0.3 0.3 0.3 Terminal Benefits 4.4 4.2 4.0 4.6 4.6 5.3 4.1 4.3 4.9 5.5 5.9 Employee Costs Charged to Capital ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ SubTotal (Employees Cost) 33.9 31.4 32.5 35.5 36.4 39.3 30.6 32.4 36.7 41.4 43.8

5 Corporate office expenses allocation 0.4 0.3 0.3 0.5 0.5 0.7 0.6 0.6 0.7 0.8 0.8 6 Total (1 to 7) 53.5 55.3 59.3 60.6 98.4 85.8 66.8 70.7 80.0 90.3 95.4

LESS: Recovered , if anyA) Net Expenses 53.5 55.3 59.3 60.6 98.4 85.8 66.8 70.7 80.0 90.3 95.4

Salaries (before15.01.2000) 1.6 6.6 7.1 8.9 9.6 10.3 11.1 11.9 12.8 Salaries (after15.01.2000) 0.2 0.6 0.6 0.8 0.9 1.0 1.1 1.1 1.2 Pension & Gratuity (@19.08%) 0.3 1.3 1.3 1.7 1.8 2.0 2.1 2.3 2.4 CPF (@10%) 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Salary of CISF Personnel 0.2 0.6 0.6 0.3 0.3 0.3 0.3 0.3 0.4

B) Total 2.3 9.1 9.7 11.8 12.7 13.7 14.7 15.8 17.0

Grand Total O&M Expenses 53.49 55.30 61.56 69.75 108.13 97.64 79.55 84.33 94.73 106.06 112.40 Total Petitioned O&M Expenses in MYT Petition

32.9 79.6 84.3 94.7 106.1 112.4

Note: Corporate Expenses have been allocated among generating stations based on GFA balances

PETITIONER

PARTIFORM18 Details of Operation & Maintenance Expenses


Yearly Impact due to Pay RevisionArrears of Pay Revision

PARTIFORM19

COAL


Sl. No.

Month Unit Jan09 Feb09 Mar09

1 Quantity of Coal/ supplied by Coal Company (MT) 117,500 89,083 111,624

2 Adjustment (+/‐) in quantity supplied made byCoal Company (MT) 2,717 17,577 12,683

3 Coal supplied by Coal Company (1+2) (MT) 120,217 106,660 124,307

4 Normative Transit & Handling Losses (For coalbased Projects) (MT) 962 853 994

5 Net coal / Supplied (3‐4) (MT) 119,256 105,806 123,312 6 Amount charged by the Coal Company (Rs.) 158,961,462 129,173,607 153,102,867

7 Adjustment (+/‐) in amount charged made by Coal/Company (Rs.) 5,200,192 23,211,177 18,529,558

8 Total amount Charged (6+7) (Rs.) 164,161,654 152,384,785 171,632,426

9 Transportation charges by rail/ship/road transport ( Rs.) 68,671,064 73,183,787 84,663,492

10 Adjustment (+/‐) in amount charged made byRailways/Transport Company ( Rs.) 30,344,231 19,996,514 26,082,394

11 Demurrage Charges, if any ( Rs.) 1,472,800 2,002,500 2,675,500

12 Cost of diesel in transporting coal through MGRsystem, if applicable ( Rs.) ‐

13 Total Transportation Charges (9+/‐10‐11+12) ( Rs.) 97,542,495 91,177,800 108,070,387

14 Total amount Charged for coal/ supplied includingTransportation (8+13) ( Rs.) 261,704,149 243,562,585 279,702,813

15 Average Landed Cost of Coal Rs/MT 2,194 2,302 2,268 16 Weighted average GCV of coal/ as fired (kCal/Kg 3,471 3,418 3,439

Petitioner

Details/Information to be Submitted in respect of Fuel for Computation of Energy Charges

PANKIUP RAJYA VIDYUT UTPADAN NIGAM LIMITED

PARTIIFORM19

OIL

Name of the Company


Sl. No.

Month Unit Jan09 Feb09 Mar09

1 Quantity of Oil supplied by Oil Company ( KL ) 120 192 336

2 Adjustment(+/‐) in quantity supplied made by OilCompany ( KL ) ‐

3 Oil supplied by Oil Company (1+2) ( KL ) 120 192 336

4 Normative Transit & Handling Losses (ForCoal/Lignite based Projects) ( KL ) ‐

5 Net Oil Supplied (3‐4) ( KL ) 120 192 336

6 Amount charged by the Oil Company ( Rs.) 4,216,190 6,738,212 11,007,832

7 Adjustment(+/‐) in amount charged made by OilCompany ( Rs.) ‐

8 Total amount Charged (6+7) ( Rs.) 4,216,190 6,738,212 11,007,832

9 Transportation charges by rail / ship /roadtransport ( Rs.) ‐

10 Adjustment (+/‐) in amount charged made byRailways/Transport Company ( Rs.) ‐

11 Demurrage Charges, If any ( Rs.) ‐

12 Cost of diesel in transporting Oil through MGRsystem, if applicable ( Rs.) ‐

13 Total Transportation Charges (9+/‐10‐11+12) ( Rs.) ‐ ‐ ‐ Others

14 Railway Siding Charges ( Rs.) ‐

15 Total amount Charged for Oil supplied includingTransportation (8+13) ( Rs.) 4,216,190 6,738,212 11,007,832

16 Weighted average GCV of Oil as fired (kCal/Ltr)

8,863 8,860 9,440 17 Weighted average cost of Oil Rs./KL 35,135 35,095 32,761

Petitioner

Details/Information to be Submitted in respect of Fuel for Computation of Energy Charges


PANKI

FORM20

Name of the Company Name of the Power Station

Description Unit 200910 201011 201112 201213 201314Capacity MW 210 210 225 240 240PLF % 60% 61% 62% 63% 65%Gross Station Heat Rate Kcal/kWh 3100 3070 3040 3010 2980Auxiliary Energy Consumption % 11.0% 10.8% 10.6% 10.2% 9.8%Energy Generation ‐ Gross MU 1,104 1,122 1,222 1,325 1,367 Auxiliary Energy Consumption MU 121 121 130 135 134 Ex‐bus Energy Sent Out MU 982 1,001 1,092 1,189 1,233 Specific Oil Consumption ml/kWh 2.5 2.4 2.3 2.2 2.1 Wt. Avg. GCV of Oil KCal/Lt 9,440 9,440 9,440 9,440 9,440 Price of Oil Rs./KL 32,761 34,399 36,119 37,925 39,822 Wt. Avg. GCV of Coal kCal/kg 3444 3444 3444 3444 3444Price of Coal Rs./MT 2253 2366 2484 2608 2739Heat Contribution from SFO Kcal/kWh 24 23 22 21 20Oil Consumption KL 2759 2693 2811 2914 2870Heat Contribution from Coal Kcal/kWh 3076 3047 3018 2989 2960Specific Coal Consumption kg/kWh 0.89 0.88 0.88 0.87 0.86Coal Consumption MMT 0.99 0.99 1.07 1.15 1.17 Total Cost of Oil Rs Cr 9.04 9.26 10.15 11.05 11.43 Total Cost of Coal Rs Cr 222.18 234.94 266.08 299.90 321.74 Total Fuel Cost Rs Cr 231.22 244.21 276.23 310.95 333.16 Rate of Energy Charge from Secondary Fuel Oil ex‐bus Paise/kWh 9.20 9.26 9.29 9.29 9.27

Rate of Energy Charge from Coal ex‐bus Paise/kWh 226.18 234.72 243.56 252.14 261.01Rate of Energy Charge ex‐bus per kWh Paise/kWh 235.38 243.97 252.85 261.43 270.29

Petitioner

Computation of Energy Charges(Additional form)

UPRVUNLPanki

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