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Damodar Valley Corp (DVC) appeals Central Electricity Regulatory Commissions (CERC) tariff orderBy Unregistered Visitors, Section Electricity
Damodar Valley Corp (DVC), the three-way ven ture between the Union, Jhark hand and West Bengal govern ments, has moved the Appellate Tribunal for Electricity (ATE) against the Central Electricity Regulatory Commissions tariffor der issued in October.
The CERC, acting under the Electricity Act of 2003, had taken up DVC stariff and slashed the generation and transmission tariff allowed by 60 paise from Rs 2.70 to Rs 2.10 per unit. DVC said this would meet only 60 per cent of its total expenditure after allowing a profitofRs130crore. The CERC order relates to the years from 2004-05 to 2008-09, with the existingtariffstaying forthefirsttwo years. The new tariffs are to be effectivefrom April 2006 and continue up to 2009. DVC is entitled to make changes in the rate in line with fuel prices. DVC chairman, Asim Barman, said DVC getsall its revenues from the sale of 33 kv high-tension power. The CERC has left DVC to collect 40 per cent of its expenditure from other sources, but DVC does not have any.
We have moved the ATE to re view the declared tariff and hope to get proper justice, Barman said.
DVC officials said the CERC tariff covers the element of cost for fuel, operation & mainte nance, depreciation, interest and return on capital,butitignoresthe costs of fuel surcharge, income tax and pension and gratuity lia bilities. DVC meetsits pension liability of Rs 85 crore a month on a pay as-you-go basis, formulating a tariff structureonits own. With DVC stariffs now coming under the CERC, it has decided to create a Rs 1700-crore corpus tomeetits pensionliability. Officials said that a trust would be created to manage the corpus, which has to be increased by 20 per cent every year. DVC will di vert its surplus to the pension fund and build it up in five or six installments. They said the CERC tariff would enable DVC to fund only 60 per cent of the pension fund, leaving the rest uncovered. (Source-Indian Express,05/12/06)
Damodar Valley Corp (DVC) appeals Central Electricity Regulatory Commissions (CERC) tariff order | 0 comments (0 topical, 0 hidden)
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