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Analysis of GRIDCO’s ARR and Bulk supply price for FY 2011-12 By: World Institute of Sustainable Energy, Pune (Consumer Counsel) 3 rd February, 2011.

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Presentation on theme: "Analysis of GRIDCO’s ARR and Bulk supply price for FY 2011-12 By: World Institute of Sustainable Energy, Pune (Consumer Counsel) 3 rd February, 2011."— Presentation transcript:

1 Analysis of GRIDCO’s ARR and Bulk supply price for FY By: World Institute of Sustainable Energy, Pune (Consumer Counsel) 3 rd February, 2011

2 Proposal of GRIDCO

3 Energy availability Generators Projection for FY (MU)Approved for FY (MU) OHPC(Old) Total State hydro availability OPGC TTPS CGPs Renewable Energy 300 Co-generation Plants IPPs Total State availability TSTPS Stg.-I 2, TSTPS Stg.-II 1, FSTPS 1, KhSTPS Stg.-I KhSTPS Stg.-II Total Central Thermal availability 5, Chukha TALA Teesta Total Central hydro availability Total EREB 6, Total Availability

4 Proposed Revenue Requirement in ItemCost (Rs Crore) Power Purchase Cost Special Appropriation towards Past Liabilities Interest, Financing and other expenses Return on Equity Revenue Requirement Power purchase cost largest component; in FY (approved) it was 86% of revenue requirement

5 Analysis of ARR and BSP

6 Energy Avialability GeneratorsProjection for FY (MU)Approved for FY (MU)Growth rate OHPC(Old) % Total State hydro availability % OPGC % TTPS % CGPs % Renewable Energy % Co-generation Plants % IPPs % Total State availability % TSTPS Stg.-I2, % TSTPS Stg.-II1, % FSTPS1, % KhSTPS Stg.-I % KhSTPS Stg.-II % Total Central Thermal availability5, % Chukha % TALA % Teesta % Total Central hydro availability % Total EREB6, % Total Availability %

7 Power Purchase cost details Purchased pattern: Hydro = 29%, Thermal = 70%, RE = 1% Overall energy availability Paise / Unit

8 TTPS and CGS Observation: TTPS: Fixed charges for TTPS claimed Rs crore by GRIDCO (based on NTPC’s petition) U.I Over drawl = claimed Rs 6.38 crore during FY CGS: Transmission loss of 3.09% and transmission charges of Paise / unit Submission: Fixed charges for TTPS shall be allowed as per earlier OERC order i.e Rs crore. Fixed charges as requested by GRIDCO shall not be allowed in ARR since the final order is not issued by CERC The U.I. over drawl for FY cannot be judged at this time and therefore can not be considered Transmission loss and transmission charges claimed for CGS may be reviewed based on actual dataactual data

9 Central Thermal – Fixed charges and FPA Fixed cost analysis Fixed Cost (Rs. Cr.) Additional capacity charge (Income tax) (Rs Cr) Fixed Cost projected by GRIDCO for FY (Rs. Cr.) GRIDCO share (%) GRIDCO F.C share for FY11-12 (Rs. Cr.) Applicable fixed cost share of GRIDCO (Rs Cr.) (excluding income tax) TSTPS Stage -I TSTPS Stage -II FSTPS KhSTPS-I KhSTPS-II TOTAL Fuel Price Adjustment analysis Approved FY over approved FY09-10 First six monthly average FY10-11 over FY09-10 Projection FY11-12 over projected FY Projection FY11-12 over approved FY10-11 TSTPS Stage-I127.24%75.98%74.56%98.89% TSTPS Stage-II226.14%100.09%98.47%134.64% FSTPS272.50%66.17%64.84%71.49% KhSTPS Stage-I152.59%47.92%46.74%53.68% KhSTPS Stage-II68.40%67.06%74.07% Income tax may not be approved as a part of fixed cost Projected FPA may be reviewed based on % rise in actual average six monthly data

10 CGP, IPP and RE Observation: GRIDCO has proposed to buy power from –CGPs and Co-generation plants as per OERC and 275 P/U respectively average 315 P/U (300 MU) 275 P/U Submission: As per interim orders on SHPs the tariff for SHP shall be considered as 305 P/U In case of IPP, Commission may examine the PPA and approve the rate

11 Power purchase rate comparison GeneratorsApproved rate for (P/U) Projected Rate for FY (P/U) % increase in over approved State Hydro % OPGC % TTPS % CGPs % Renewable Energy Source % Co-generation Plants % IPPs % State Total % Central Sector Thermal % Central sector hydro % Total Central % Total GRIDCO % Proposed tariff for TTPS needs to be examined for substantial rise

12 Special Appropriation Special appropriation towards power purchase and other costs up to Special appropriation for FY for Power Purchase and Other Costs Regulatory Asset for FY for Power Purchase and Other Costs Sub-total Arrear Payment to OPGC: Arrear Payment to NTPC (in respect of TTPS): Total Submission: Loan related supporting documents and utilization of loans not matching with bove figures. Commission may scrutinize the details with reconciling the earlier provisionally approved amounts. Arrear payment to NTPC as per tariff petition; Commission may not approve now

13 Interest, Financing & Other expenses GRIDCO proposal for FY Approved Approved % increase approved over % increase over Interest & Financial Charges %131.08% 2. Other Costs: a. Employee Cost %15.29% b. A&G Cost %16.42% c. ERLDC, NLDC fees, ULDC and SLDC scheduling Charges % d. Repair & Maintenance Cost Sub-Total - Other Costs %15.15% 3. Depreciation Total (1+2+3) %125.68% Submission: Interest on proposed new loan of Rs 800 crore (Sl. no 37 in TRF-3) and corresponding Finance charges shall not be considered in ARR Expenses towards R&M cost and Return on equity may not be considered as per Govt directives and OERC order.

14 ARR analysis of GRIDCO ItemGRIDCO’s Proposal for OERC approval for GRIDCO’s Proposal for % increase in over approved in % increase in over proposed in Power Purchase Cost %24.08% Special Appropriation towards Past Liabilities %5.73% Interest, Financing and other expenses %22.68% Return on Equity Revenue Requirement %20.53% Misc. Receipts Net Revenue Requirement %20.52% Expected revenue %52.33% GAP %-6.54%

15 Energy sale projection by GRIDCO AGENCYActual from 4/10 to 09/10 (MU) Projection for FY on pro- rata basis (MU) OERC approval for FY (MU) GRIDCO Projection for FY (MU) Purchase projection by DISCOMs for FY (MU) Projection FY11-12 vs. Projection FY10-11 Projection FY11-12 vs. Approved FY10-11 CESU %20.28% NESCO %6.70% WESCO %7.62% SOUTHCO %20.27% TOTAL DISCOM S %12.91% IMFA %-95.00% NALCO % CGPs % SALE %12.90% Wide variation in GRIDCO’s sale and DISCOM’s purchase projection

16 Power purchase cost by GRIDCO vs. BSP Growth of: over over Average power purchase cost17.74%22.89% Bulk supply price39.32%70.49%

17 Impact of BST on average cost of supply ParametersValue Average cost of supply of Discoms (FY 10-11) P/U Bulk supply tariff proposed by GRIDCO (FY 11-12) P/U Sale to Discoms projected by GRIDCO (FY 11-12) MU Power purchase cost of Discoms at proposed BST ( FY 11-12) Rs Cr. Distribution cost of Discoms (FY approved) Rs Cr. Projected total cost of Discoms (FY 11-12) Rs Cr. Net saleable unit to consumers (FY 11-12)17534 MU Projected Average cost of supply of Discoms (FY 11-12)446 P/U Increase in average cost of supply of Discoms over FY % Assumption: (i) T&D loss of HT - 8% and LT- 29.4% (ii) EHT and HT Consumption as proposed by Discoms in respective ARR

18 Summary Design of BSP for DISCOMs has direct impact on consumer tariff; therefore, the Hon. Commission may consider the following observation of Consumer Counsel related GRIDCO ARR: Energy availability from all sources may be reviewed Review of fixed charges and UI over drawl in case of TTPS Review of fixed charges and FPA in case of Central thermal Review of transmission loss and transmission charges in case of Central sector projects Power procurement rates from CGP, Co-gen, IPP and RE may be reviewed Interest on proposed new loan shall not be pass through in the ARR R&M cost and RoE shall not be pass through in the ARR Energy sale to DISCOMs may be reviewed based on DISCOMs submission

19 Thank you


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