BEFORE THE CENTRAL ELECTRICITY REGULATORY COMMISSION NEW DELHI

Transcription

1 .,,-', -c : BEFORE THE CENTRAL ELECTRICITY REGULATORY COMMISSION NEW DELHI IN THE MATTER OF: Approval under regulation-86 of CERC (Conduct of Business) Regulations, 1999, CERC (Terms and Conditions of Tariff) Regulations, 2009 and CERC (Terms and Conditions of Tariff) Regulations, 2014 for determination of (i) Truing up Transmission tariff for tariff block and (ii) Transmission tariff for tariff block for the asset 1x125 MVAR Bus Reactor at Khandwa along with associated bays (DOCO: ) and 1x125 MVAR Bus Reactor at Dehgam along with associated bays (DOCO: ) under WRSS VII Transmission Scheme in Western Region. PETITIONER Power Grid Corporation of India Ltd. (Govt. of India undertaking) Registered office: B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi Corporate office: "Saudamini", Plot no.2, Sector-29, Gurgaon (Haryana) Power Grid Corporation of India Ltd., the petitioner in the matter, is filing petition under Regulation-86 of CERC (Conduct of Business) Regulations, 1999 for approval of transmission tariff for assets under under WRSS VII Transmission Scheme in Western Region. In terms of Regulation 3(2) of the Central Electricity Regulatory Commission (Procedure for making of application for determination of tariff, publication of the application and other related matters) Regulations, 2004, copy of complete tariff application is hereby served to the respondents (beneficiaries of Western Region), for information and necessary action in the matter. The tariff application is hereby served through the nodal officers of the respondents for CERC matters, on the addresses as mentioned below: ADDRESSES OF NODAL OFFICERS 1. MADHYA PRADESH POWER MANAGEMENT COMPANY LTD. SHAKTI BHAWAN, RAMPUR JABALPUR REPRESENTED BY ITS MD 2. PRAKASHGAD, 4TH FLOOR ANDHERI (EAST), MUMBAI REPRESENTED BY ITS MD A

2 3. GUJARAT URJA VlKAS NIGAM LTD. SARDAR PATEL VIDYUT BHA WAN, RACE COURSE ROAD VADODARA REPRESENTED BY ITS CHAIRMAN 4. ELECTRICITY DEPARTMENT GOVT. OF GOA VIDYUT BHAWAN, PANAJI, NEAR MANDVI HOTEL, GOA REPRESENTED BY ITS CHIEF ENGINEER (ELECTRICAL) 5. ELECTRICITY DEPARTMENT ADMINISTRATION OF DAMAN & DIU DAMAN REPRESENTED BY ITS SECRETARY (FIN.) 6. ELECTRICITY DEPARTMENT ADMINISTRATION OF DADRA NAGAR HAVELI U.T., SILVASSA REPRESENTED BY ITS SECRETARY (FIN.) 7. CHHA TTISGARH STATE ELECTRICITY BOARD P.O.SUNDER NAGAR, DANGANIA, RAIPUR CHHATISGAARH REPRESENTED BY ITS CHAIRMAN 8. MADHYAPRADESH AUDYOGIK KENDRA VIKAS NIGAM (INDORE) LTD. 3/54, PRESS COMPLEX, AGRA-BOMBAY ROAD, INDORE Kindly acknowledge the receipt. GURGAON DATED: j...\ PETITIONER POWER GRID CORPORATION OF INDIA LTD. RE~~~DBY ~1 Mohd Mohsin ASST. GENERAL MANAGER (COMMERCIAL)

3 BEFORE THE CENTRAL ELECTRICITY REGULATORY COMMISSION NEW DELHI. PETITION FOR Approval under Regulation-86 of CERC (Conduct of Business) Regulations, 1999 and Regulation-6 of CERC (Terms and Conditions of Tariff) Regulations, 2009 and CERC (Terms and Conditions of Tariff) Regulations, 2014 for determination of (i) Truing up Transmission tariff for tariff block and (ii) Transmission tariff for tariff block for the Combined asset 1x125 MVAR Bus Reactor at Khandwa along with associated bays (DOCO: ) and 1x125 MVAR Bus Reactor at Dehgam along with associated bays (DOCO: ) under WRSS VII Transmission Scheme in Western Region. PETITION NO. :. TRUING UP TARIFF FOR AND TARIFF FOR POWER GRID CORPORATION OF INDIA LTD. REGISTERED OFFICE B-9, QUTAB INSTITUTIONAL AREA, KATWARIA SARAI, NEW DELHI CORPORATE CENTRE "SAUDAMINI", PLOT NO-2, SECTOR-29, GURGAON (HARYANA) EPABX: TO 719, FAX:

4 BEFORE THE CENTRAL ELECTRICITY REGULATORY COMMISSION NEW DELHI PETITION NO.:. IN THE MATTER OF: Approval under Regulation-86 of CERC (Conduct of Business) Regulations, 1999 and Regulation-6 of CERC (Terms and Conditions of Tariff) Regulations, 2009 and CERC (Terms and Conditions of Tariff) Regulations, 2014 for determination of (i) Truing up Transmission tariff for tariff block and (ii) Transmission tariff for tariff block for Combined asset of 1x125 MVAR Bus Reactor at Khandwa along with associated bays (DOCO: ) and 1x125 MVAR Bus Reactor at Dehgam along with associated bays (DOCO: ) under WRSS VII Transmission Scheme in Western Region. IN THE MATTER OF: Power Grid Corporation of India Ltd. Registered office: B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi and Corporate office: "Saudamini",Plot no.2, Sector-29, Gurgaon (Haryana) Madhya Pradesh Power Management Company Ltd. Shakti Bhawan, Rampur Jabalpur Represented By Its MD And Others -- PETITIONER -- RESPONDENTS INDEX 51. Description Enclosure No. Page No. No. 1 Letter for registration 2 Memo of Parties 3 Affidavit 4 Petition 5 CERC Order Encl-1 6 Auditor Certificate Encl-2 7 Trued up Tariff Forms ( block) Encl-3 8 Tariff Forms ( block) Encl-4 9 Check List GURGAON DATED: "-t '-tl '- t 1t ASST. GENERAL MANA 2

5 BEFORE THE CENTRAL ELECTRICITY REGULATORY COMMISSION NEW DELHI PETITION NO.:... IN THE MATTER OF: Approval under Regulation-86 of CERC (Conduct of Business) Regulations, 1999 and Regulation-6 of CERC (Terms and Conditions of Tariff) Regulations, 2009 and CERC (Terms and Conditions of Tariff) Regulations, 2014 for determination of (i) (ii) Truing up Transmission tariff for tariff block and Transmission tariff for tariff block for Combined asset of 1x125 MVAR Bus Reactor at Khandwa along with associated bays (DOCO: ) and 1x125 MVAR Bus Reactor at Dehgam along with associated bays (DOCO: ) under WRSS VII Transmission Scheme in Western Region. IN THE MATTER OF: Power Grid Corporation of India Ltd. Registered office: B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi and Corporate office: "Saudamini",Plot no.2, Sector-29, Gurgaon (Haryana) Madhya Pradesh Power Management Company Ltd. Shakti Bhawan, Rampur Jabalpur Represented By Its MD And Others -- PETITIONER -- RESPONDENTS To The Secretary Central Electricity Regulatory Commission New Delhi Sir, The application filed under Requlation-Be of CERC (Conduct of Business) Regulations'1999 and Regulation-6 of CERC (Terms and Conditions of Tariff) Regulations, 2009 and CERC (Terms and Conditions of Tariff) Regulations' 2014 for determination of Truing up Transmission tariff for tariff block and Transmission tariff for tariff block may please be registered. GURGAON DATED: ~J _\\ L \ ~ 3

6 BEFORE THE CENTRAL ELECTRICITY REGULATORY COMMISSION NEW DELHI PETITION NO.:... IN THE MATTER OF: Approval under Regulation-86 of CERC (Conduct of Business) Regulations, 1999 and Regulation-6 of CERC (Terms and Conditions of Tariff) Regulations, 2009 and CERC (Terms and Conditions of Tariff) Regulations, 2014 for determination of (i) (ii) Truing up Transmission tariff for tariff block and Transmission tariff for tariff block for Combined asset of 1x125 MVAR Bus Reactor at Khandwa along with associated bays (DOCO: ) and 1x125 MVAR Bus Reactor at Dehgam along with associated bays (DOCO: ) under WRSS VII Transmission Scheme in Western Region. IN THE MATTER OF: Power Grid Corporation of India Ltd. Registered office: B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi and Corporate office: "Saudarnini",Plot no.2, Sector-29, Gurgaon (Haryana) Madhya Pradesh Power Management Company Ltd. Shakti Bhawan, Rampur Jabalpur Represented By Its MD And Others -- PETITIONER -- RESPONDENTS MEMO OF PARTIES POWER GRID CORPORATION OF INDIA LTD. --PETITIONER VERSUS 1 MADHYA PRADESH POWER MANAGEMENT --- RESPONDENTS COMPANY LTD. SHAKTIBHAWAN,RAMPUR JABALPUR REPRESENTED BY ITS MD 2 MAHARASHTRA STATE ELECTRICITY DISTRIBUTION CO. LTD. PRAKASHGAD, 5TH FLOOR BANDRA (EAST), MUMBAI REPRESENTED BY ITS CHIEF ENGINEER (POWER PURCHASE CELL) 4

7 3 GUJARAT URJA VIKAS NIGAM LTD. SARDAR PATEL VIDYUT BHAWAN, RACE COURSE ROAD VADODARA REPRESENTED BY ITS CHAIRMAN 4 ELECTRICITY DEPARTMENT GOVT. OF GOA VIDYUT BHAWAN, PANA.II, NEAR MANDVI HOTEL, GOA REPRESENTED BY ITS CHIEF ENGINEER (ELECTRICAL) 5 ELECTRICITY DEPARTMENT ADMINISTRATION OF DAMAN & DIU DAMAN REPRESENTED BY ITS SECRETARY (FIN.) 6 ELECTRICITY DEPARTMENT ADMINISTRATION OF DADRA NAGAR HAVELI U.T., SILVASSA REPRESENTED BY ITS SECRETARY (FIN.) 7 CHHATTISGARH STATE ELECTRICITY BOARD P.O.SUNDER NAGAR, DANGANIA, RAIPUR CHHATISGAARH REPRESENTED BY ITS CHAIRMAN 8 MADHYAPRADESH AUDYOGIK KENDRA VIKAS NIGAM (INDORE) LTD. 3/54, PRESS COMPLEX, AGRA-BOMBAY ROAD, INDORE GURGAON DATED: ~\,\~~ \ ~ PETITIONER POWER GRID CORPORATION OF INDIA LTD. ~ REPRESENTED BY ASST. GENERAL MANAGER (COMMERCIAL) 5

8 gl{[jioh HARYANA BEFORE?RAA ~ THE CENTRAL ELECTRICITY REGULATORY COMMISSIdN" NEW DELHI PETITION NO.:.. IN THE MATTER OF: Approval! under Regulation-86 of CERC (Conduct of Business) Regulations, 1999 and Regulati~n-6 of CERC (Terms and Conditions of Tariff) Regulations, 2009 and CERC (Terms and Conditions of Tariff) Regulations, 2014 for determination of (i) Truing up Transmission tariff for tariff block and (ii) Trailsmission tariff for tariff block for Com~jned asset of 1x125 MVAR Bus Reactor at Khandwa along with associated bays (DOCO: ) and 1x125 MVAR Bus Reactor at Dehgam along with associated bays (DOCO:cr ) under WRSS VII Trans._. ' eme in Western Region. '.. #)f;..--- "IJt" IN THE!\tATTER OF:. r.,~/~~ Power GMd Corporation of India Ltd.. /«~_, '<:,:' ~',. ~,-- PETITIONER Registerfd office: B-9, Qutab Instituti : A'f'-.,'.~\. '.I Katwaria"Sarai, New Delhi an -".~ <_~:t,,~\\,. Corporate office: "Saudamini",Plot no. '0 ~,~~..".~~ ~'/ Sector-2~, Gurgaon (Haryana).. ~.. Madhya ~radesh Power Management com~any Ltd~"'" Shakti Bhawan, Rampur.Jabalpurj Represeflted By Its MD And Oth1rs I, Mohd ~ohsin, S/o Shri Akhtar Hasan, Affidavit verifying the Petition 6 -- RESPONDENTS ~_.::... -

9 the Power Grid Corporation of India Ltd., having its registered Office at B-9, Institutional Area, Katwaria Sarai, New Delhi , do hereby solemnly affirm and state as under: 1. I am the Asst. General Manager (Commercial) of Power Grid Corporation of India Ltd., the representative of the Petitioner in the above matter, and am duly authorized to make this affidavit. 2. I submit that the enclosed petition is being filed under Regulation-6 of CERC (Terms and Conditions of Tariff) Regulations' 2009 and CERC (Terms and Conditions of Tariff) Regulations' 2014 for determination of Truing up Transmission tariff for tariff block and Transmission tariff for tariff block for the Combined asset of 1x125 MVAR Bus Reactor at Khandwa along with associated bays (DOCO: ) and 1x125 MVAR Bus Reactor at Dehgam along with associated bays (DOCO: ) under WRSS VII Transmission Scheme in Western Region. 3. I submit that no other petition except this petition has been filed directly or indirectly under Regulation-6 of CERC (Terms and Conditions of Tariff) Regulations, 2009 and CERC (Terms and Conditions of Tariff) Regulations' 2014 for determination of truing up transmission tariff for tariff block and Transmission tariff for tariff block for the above said combined asset under WRSS VII Transmission Scheme in Western Region. 4. The statements made in the petition herein are based on petitioner company's official records maintained in the ordinary course of business and I believe them to be true and correct. 5. The documents attached Wi~~;~/ ~_~~0~~:re. legible copies and duly attested by me. /./ (~ ~/ -:!./,f"'z v ""'0;,\ ~!..._ \~ \ ~ ic.!.'8, t)c/.~ \:P\. ~ "" I.is:', "~~~~~.~.1-<.1.( (DEPONENT) ',~ \ 0"'" i/: I ' \ \~. \ \...~. r';:..,j' \\. \ ';-",. '\. /. \\ 0'''-.'.y". VERIFICATION...\ ~fi:"'" ':<. _ -. -'tvh j ;.' ')f' Solemnly affirmed at Gurgaon on this?-j... day of November, 2014 that the contents of the above affidavit are true to my knowledge and belief and no part of it is false and nothing material has been concealed there from. ~ (DEPONENT) 7

10 BEFORE THE CENTRAL ELECTRICITY REGULATORY COMMISSION NEW DELHI PETITION NO.:... IN THE MATTER OF: Approval under Regulation-86 of CERC (Conduct of Business) Regulations, 1999 and Regulation-6 of CERC (Terms and Conditions of Tariff) Regulations, 2009 and CERC (Terms and Conditions of Tariff) Regulations, 2014 for determination of (i) (ii) Truing up Transmission tariff for tariff block and Transmission tariff for tariff block for Combined asset of 1x125 MVAR Bus Reactor at Khandwa along with associated bays (DOCO: ) and 1x125 MVAR Bus Reactor at Dehgam along with associated bays (DOCO: ) under WRSS VII Transmission Scheme in Western Region. IN THE MATTER OF: Power Grid Corporation of India Ltd. Registered office: B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi and Corporate office: "SaudarniniPlot no.2, Sector-29, Gurgaon (Haryana) Madhya Pradesh Power Management Company Ltd. Shakti Bhawan, Rarnpur Jabalpur Represented By Its MD And Others -- PETITIONER RESPONDENTS To The Hon'ble Chairman and his Companion Members of The Hon'ble CERC The Humble application filed by the Petitioner MOST RESPECTFULLY SHOWETH 1) The Petitioner herein, Power Grid Corporation of India Ltd. is a Government Company within the meaning of Companies Act, The Petitioner is also discharging the statutory functions under various applicable provisions, including in particular section 28 and 38 of the Electricity Act, In exercise of powers under sub-section (1) of section 38(1) the Electricity Act 2003, the Government of India has declared the Petitioner herein as the Central Transmission Utility. 2) That, Hon'ble Commission has notified CERC (Terms and Conditions of Tariff) Regulations, 2014, in accordance with which tariff based on capital cost of the transmission projects shall be determined. These Regulations have come in to force on and shall remain in force for a period of five (5) years, unless reviewed earlier or extended Q_ ~ttte Hon'ble Commission.. I~. Go' ~ ~Q f ~ *~~ 8 ~,:;e*.

11 3) That the petitioner has been entrusted with the implementation of 1x125 MVAR Bus Reactor along with associated bays at Khandwa (Asset-1A); DOCO: and 1x125 MVAR Bus Reactor along with associated bays at Dehgam (Asset-1 B); Transmission System associated with WRSS VII Transmission Scheme in Western Region. 4) That the petitioner had filed the tariff petition for the Combined Assets ( Asset 1): 1x125 MVAR Bus Reactor along with associated bays at Khandwa (Asset-1A); DOCO: and 1x125 MVAR Bus Reactor along with associated bays at Dehgam (Asset-1B); DOCO: under WRSS VII Transmission Scheme in Western Region for determination of transmission tariff from DOCO to The transmission tariff based on admitted cost of Rs lakhs as on notional DOCO: and Add Cap of Rs lakh, Rs lakh and Rs lakh for the year , and respectively for the Combined Assets (Asset 1) under WRSS VII Transmission Scheme in Western Region covered under this petition for tariff period has been approved by the Hon'ble Commission vide its order dated 1J3~ in petition no. 309/2010, a copy whereof is enclosed as Encl.-1, page.'~..to.::r.d (Rs in Lakhs) Name of Asset Apportione d approved Cost Admitted Cost as on DOCO to Admitted Add Cap Total Admitted Cost as on Asset 1A Asset Combined Assets * ( ) * ( ) (* as against combined cost of Rs lakhs claimed as on notional DOCO: ; the Hon'ble Commission has admitted Rs lakhs after adjusting Rs Lakhs towards excess initial spares of Rs lakhs claimed in the petition.) 5) That, Hon'ble Commission vide Regulation-6 of CERC (Terms and Conditions of Tariff) Regulations, 2009, for the tariff block has inter-alia stated as follows: Quote: 6. Truing up ofcapital Expenditure and Tariff. (1) The Commission shall carry out truing up exercise along with the tariff petition filed for the next tariff period, with respect to the capital expenditure including additional capital expenditure incurred up to , as admitted by the Commission after prudence check at the time of truing up. 9

12 Provided that the generating company or the transmission licensee, as the case may be, may in its discretion make an application before the Commission one more time prior to for revision of tariff. (2) The generating company or the transmission licensee, as the case may be, shall make an application, as per Appendix I to these regulations, for carrying out truing up exercise in respect of the generating station a unit or block thereof or the transmission system or the transmission lines or sub-stations thereof by ; (3) The generating company or the transmission licensee, as the case may be, shall submit forthe purpose of truing up, details of capital expenditure and additional capital expenditureincurred for the period from to , duly audited and certified by the auditors; Un-Quote 6) In view of the above, in this petition (i) Truing up Transmission tariff for block: Truing up of transmission tariff for the block on account of the additional capital expenditure incurred from OOCO upto under Regulation-6 of CERC (Terms and Conditions of Tariff) Regulations, 2009, for the tariff block And (ii) Transmission tariff for block: Approval under regulation-86 of CERC (Conduct of Business) Regulations' 1999 and CERC (Terms and Conditions of Tariff) Regulations' 2014 for determination of Transmission tariff for the tariff block for the assets covered under this petition. has been carried out. 7) That the Petitioner is required to adjust the yearly impact of MAT as per regulation 6(5) of the 2 nd amendment to the tariff Regulation period dated in the truing up petition for tariff block. Regulation 6(5) of the 2 nd amendment to the tariff Regulation : Quote "Provided further that Annual Fixed Charge with respect to the tax rate applicable to the generating company or the transmission licensee, as the case may be, in line with the provisions of the relevant Finance Acts of the respective year during the tariff period shall be trued up in accordance with Regulation 6 of these regulations. n Regulation 6(1) of Tariff Regulation : 10

13 Quote "The Commission shall carry out truing up exercise along with the tariff petition filed for the next tariff period, with respect to the capital expenditure including additional capital expenditure incurred up to , as admitted by the Commission after prudence check at the time of truing up." Unquote The MAT rate applicable to the petitioner for the various years as per the Finance Act of the relevant year and the revised grossed up ROE are as given below: Year MAT Rate Grossed up ROE (Base rate/(1-t)) In line with above Regulation the tariff for each year of the tariff period block w.r.t the actual tax rate applicable to the petitioner in line with provisions of the relevant Finance Acts has been trued up. 8) While filing tariff petition for period the petitioner had prayed for allowing the floating rate of Interest on loan adjustments. As per Hon'ble Commission order dated in petition no. 238/2010, it has been stated that interest on loan was calculated on basis of prevailing rates as on / date of commercial operation and any change in the rates of interest subsequent to /date of commercial operation will be considered at the time of truing up. Accordingly in the instant petition, the truing up on account of impact due to change in MAT rate, floating rate of interest, FERV, as well as consequential lowc is being carried out. 9) That the present petition covers truing up of transmission tariff for the tariff block based on admitted capital expenditure incurred up to DOCO and actual additional capitalization from DOCO to and transmission tariff for tariff block for the Combined assets (Asset 1) of 1x125 MVAR Bus Reactor at Khandwa along with associated bays (DOCO: ) and 1x125 MVAR Bus Reactor at Dehgam along with associated bays (DOCO: ) under WRSS VII Transmission Scheme in Western Region. 10) The details of underlying assumptions for additional capitalization during the period are summarized as follows: The admissibility of additional capital expenditure (Add Cap) incurred after DOCO and up to cut of date is to be dealt in accordance with the provisions of Regulation 9 (1). The additional Capitalization incurred in the contextual assets is on account of any undischarged liability towards final payment/withheld payment due to contractual exigencies for.'...~.:;:._'- cuted within the cut-off date. ~ ~~ 11 :?Ji 'l 0 * ~ ~.~*

14 11) The details of actual additional capitalization incurred up to of different assets covered in this petition are summarized below: ( Rs. in Lakhs) Name Asst of & Expendit ure Actual Add Cap expenditure in Total capital DOCO incurred Expendit up to to ure DOCO As On Asset 1A ( ) Asset 18 ( ) Combined Assets ( ) ( ) ( ) Initial Spares SS (Actual ) The above additional capitalization from DOCO up to cut off date i.e was on account of Balance/Retention payment for substation works. As against the total allowed add cap of RS Lakhs, actual expenditure incurred is Rs Lakhs up to cut-off date It is to mention that as against DOCO cost of RS lakhs, as per the auditor certificate dtd , Hon'ble Commission has considered DOCO cost of RS lakhs for determination of tariff for the block after reducing excess cost of Rs lakhs of initial spares for combined assets as on notional DOCO: (by restricting the initial spares@ 2.5% of estimated completion cost of Substation equipments). Accordingly, the estimated completion cost allowed by the Hon'ble Commission was RS lakhs as against claimed amount of Rs lakhs. Now as per the final cost certificate, the completion cost of the assets is Rs lakhs. Accordingly, cost of allowable Initial of Substation cost works out to Rs lakhs as against total spares cost of RS lakhs indicated in the Auditor Certificate. The excess initial spares of RS lakhs has been adjusted in the DOCO cost of RS lakhs and the adjusted DOCO of RS lakhs has been considered for the purpose of determination of tariff for block. In view of above, the capital cost for determination of transmission tariff for truing up and tariff block , is considered after restricting the initial spares to normative values (Rs lakh), in line with the CERC Order dtd in the petition no 309/2010, as per the provision 8, Chapter-2, of the CERC Regulations A copy of auditor's certificate in respect of the assets covered in this petition is enclosed herewith as Encl-2 (page 4i.. to t). It is humbly prayed that tariff may be allowed on the adjusted actual Completion cost of Rs Lakhs. 12) Transmission tariff for Tariff block block The revised transmission tariff for block has been worked out on a up of the additional capitalization as per CERC (Terms and Conditions of T 12

15 2009. In the present petition the transmission tariff has been calculated taking actual expenditure Lip to DOCO and actual additional capitalization from DOCO to Calculations for working out the tariff along with supporting documentation are attached hereto as Encl.- 3, (page4~to ':}-\..). The trued up annual transmission tariff for the tariff period is summarized as below: Rs.in Lakhs) Name of Asset & DOCO Annual Fixed Cost Asset 1A approved 13.61* ( ) Revised AFC based 11.58* Combined Asset 1 ( ) on truing up Annual Fixed Cost approved Revised AFC based on truinq up ** ** * Tariff for one (01) month on prorata basis for the period ( to ) ** Tariff for five (05) months on prorata basis for the period ( to ) 13) Transmission Tariff for block: This petition also covers Approval under regulation-86 of CERC (Conduct of Business) Regulations1999 and CERC (Terms and Conditions of Tariff) Regulations 2014 for determination of Transmission tariff for the tariff block for the assets covered under this petition. As per Regulation 7 (3) CERC (Terms and Conditions of Tariff) Regulations' 2014, inter-alia states as under: Quote: (3) In case of an existing generating station or transmission system includingcommunication system or element thereof, the application shall be made not later than 180 days from the date of notification of these regulations based on admitted capitalcost including any additional capital expenditure already admitted up to (either based on actual or projected additional capital expenditure) and estimatedadditional capital expenditure for the respective years of the tariff period to Un-Quote Accordingly, the capital cost of Rs lakhs (after adjusting the cost of initial spares beyond 2.5% from actual completion cost of Rs lakhs) considered for determination of transmission tariff for block is as summarized follows: ( Rs in Lakhs Name of the Asset Combined Asset 1 Capital cost as on (As per Table at SI No 12) ( ) No additional capitalization is projected in block. Projected Estimated Add Cap Total Cost ( ) 14) That as per regulation 6(1) (i), 20 (3) and regulation 21 of the Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, 2014, the tariff for transmission of electricity on ISTS shall comprise transmission charge for recovery of.. ixed cost consisting of (a) Return on Equity, (b) Interest on Loan, (c) Depreci. ~ rest on 13 ~ :z ~,~*

16 Working Capital and (e) Operation and maintenance expenses. The tariff for block has been worked out as per Appendix-I, part III of CERC (Terms and Conditions of Tariff) Regulations, In the present petition the transmission tariff has been calculated taking actual expenditure upto and estimated expenditure from to (O&M/construction) for estimated additional capitalization from to Calculations for working out the tariff along with supporting documentation are attached hereto as Encl-4 (Page1~ -.~.) The annual transmission tariff for the tariff period is summarized as below: (Rs. In Lakhs)' # SINo Name of Asset Combined asset (Notional DOCO: ) 11'.. " - While calculating Annual fixed O&M charges, rates as specified In the Tariff Regulation'2014 have been considered. However, the petitioner is approaching the Hon'ble Commission through review petition for revision in the O&M rates. Thus the Annual Fixed Cost is subject to the outcome of the said review petition. The asset will complete 12 Yrs beyond block. Accordingly depreciation has been calculated annually based on Straight Line Method. That, it is submitted that the petitioner being liable to pay income tax at MAT rate, the ROE has been % after grossing up the ROE with MAT rate of % based on the rate prescribed by the Hon'ble Commission as per illustration under regulation 25 (2) (i) of the Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, That as per clause25 (3) of the above regulation, the grossed up rate of ROE at the end of every financial year shall be trued up based on actual tax paid together with any additional tax demand including interest thereon duly adjusted for any refund of tax including interest received from the IT authorities pertaining to the tariff period to on actual gross income of any financial year. Any under-recovery or over-recovery of grossed up rate on ROE after truing up shall be recovered or refunded to beneficiaries on year to year basis. It is further submitted that the adjustment due to any additional tax demand including interest duly adjusted for any refund of tax including interest received from IT authorities shall be recoverable ladjustable during I after completion of income tax assessment of the financial year. That as provided in clause 39 of Tariff Regulations 2009 and clause 49 of the Tariff Regulations 2014, the deferred tax liability before shall be recovered from the beneficiaries or the long term customers IDICs as and when the same gets materialized. Service tax on transmission has been put in the negative list w.e.f and accordingly the Transmission Charges indicated at para 15.1 above, is exclusive of Service Tax and the same shall be borne and additionally paid by the respondent(s) to the petitioner and the same shall be charged, billed separately by the petitioner if at any time the transmission charges is withdrawn from the negative list. Further, any additional taxes are to be paid by the petitioner on account of demand from Govt I statutory auth~he same may be allowed to be recovered from the beneficiaries.. ~ ~q.gr;t.. O(j~Q >ll ~J.k\ 0.. ~ 14 '~,;e:

17 15.6 In tariff calculation for period, Interest on Loan has been calculated based on actual interest rates for each year. For the purpose of the supporting documents for rate of interest, kindly refer page 32 to page 41 (Volume 2) of our affidavit dtd which was filed before the Hon'ble Commission to avoid duplicacy/repeatative submission of voluminous documents in each petition. These documents/details are also available on our website In the tariff calculation for period Interest on Loan has been calculated on the basis of rate prevailing as on The change in Interest rate due to floating rate of interest applicable, if any, during period for the project needs to be claimed / adjusted over the tariff block of 05 years directly from / with the beneficiaries., 15.8 The transmission charges at para-15.1 above is inclusive of O&M expenses for the project derived based on the norms for O&M expenditure for Transmission System as specified under regulation 29 (3) (a) of the tariff regulations for block It is the understanding of the petitioner that these norms for O&M expenditure been arrived by the Hon'ble Commission after considering (i) normalized actual O&M expenses of the petitioner on its various projects in various regions during the year , , , and It is submitted that the wage revision of the employees of the petitioner company is due during and actual impact of wage hike which will be effective from a future date has also not been factored in fixation of the normative O&M rates prescribed for the tariff block The scheme of wage revision applicable to CPSUs being binding on the petitioner, the petitioner reserves the right to approach the Hon'ble Commission for suitable revision in the norms for O&M expenditure for claiming the impact of wage hike, if any, during The application filing fee, expenses incurred on publication of Notices in Newspapers and License fee may be allowed to be recovered separately from the respondents in terms of Regulation 52 Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, The fees and charges to be paid by the petitioner as ISTS licensee (deemed ISTS licensee) under CERC (Fees and Charges of RLDC and other matters) Regulations as amended from time to time shall also be recoverable from the DICs as provided under clause 52(2) (a) The Transmission Charges and other related Charges indicated at para 15.1 above, is exclusive of incentive, late payment surcharge, FERV, any statutory taxes, levies, duties, cess, filing fees, license fee, RLDC fees and charges or any other kind of imposition (s) and/ or other surcharges etc. whatsoever imposed / charged by any Government (Central/State) and / or any other local bodies/authorities/regulatory authorities in relation to transmission of electricity, environmental protection, and/or in respect of any of its installation associated with the Transmission System and the same shall be borne and additionally paid by the respondent(s) to the petitioner and the same shall be charged, billed separately by the petitioner on the respondents. 16 Sharing of Transmission Charges Tariff for Transmission of Electricity (Annual Fixed Cost) as per para 15.1 above shall be recovered on monthly basis in accordance with Regulation 43 of Central EI rirl'b~~pgulatory Commission (Terms and Conditions of Tariff) Regulations, 2014 and sh ch~.r'mr\ by the 15

18 beneficiaries and long term transmission customers in Central Electricity Regulatory Commission (Sharing of Inter State Transmission Charges and Losses) Regulations, 2010 dated and amendment to these Regulations issued vide order dated or as amended from to time. However, the transmission charges for period upto shall be recovered on monthly basis in accordance with Regulation 23 and shall be shared by the respondents in accordance with regulation 33 of CERC (Terms and Conditions of Tariff) Regulations, In the circumstances mentioned above it will be just and proper that the transmission tariff for the assets covered under this petition be allowed to be charged from the Respondents on the basis set out in para-15 above. The Petitioner submits that the Encl.-1 to Encl.-4 may please be treated as integral part of this petition. PRAYER It is respectfully prayed that the Hon'ble Commission may be pleased to 1) Approve the Trued up Transmission Tariff for the tariff block block for the assets covered under this petition, as per para-12.0 above. The adjustment billing shall be raised. 2) Admit the capital cost as on as claimed in the Petition and approve the Additional Capitalization incurred during period. 3) Approve the Transmission Tariff for the tariff block block for the assets covered under this petition, as per para 14 above. 4) Allow the petitioner to recover the shortfall or refund the excess Annual Fixed Charges, on account of Return on Equity due to change in applicable Minimum Alternate/Corporate Income Tax rate as per the Income Tax Act, 1961 (as amended from time to time) of the respective financial year directly without making any application before the Commission as provided under clause 25 of the Tariff regulations ) Allow the petitioner to recover the deferred tax liability before from the beneficiaries or the long term customers/dics as and when the same gets materialized. 6) Allow the Petitioner to approach Hon'ble Commission for suitable revision in the norms for O&M expenditure for claiming the impact of wage hike, if any, during period ) Allow the petitioner to recover FERV on the foreign loans deployed as provided under clause 50 of the Tariff Regulations, ) Approve the reimbursement of expenditure by the beneficiaries towards petition filing fee, and expenditure on publishing of notices in newspapers in terms of Regulation 52 Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, 2014, and other expenditure ( if any) in relation to the filing of petition. 9) Allow the petitioner to bill and recover Licensee fee and RLDC fees and charges, separately from the respondents in terms of Regulation 52 Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, ) Allow the petitioner to bill and adjust impact on Interest on Loan due Interest 16

19 rate on account of floating rate of interest applicable during period, if any, from the respondents. 11) Allow the Petitioner to bill and recover Service tax on Transmission Charges separately from the respondents, if at any time service tax on transmission is withdrawn from negative list at any time in future. Further, any taxes and duties including cess etc. imposed by any statutory/govt./municipal authorities shall be allowed to be recovered from the beneficiaries and pass such other relief as Hon'ble Commission deems fit and appropriate under the circumstances of the case and in the interest of justice FILED BY POWER GRID CORPORATION OF INDIA LTD. GURGAON DATED:?-t'\I,\Lt 17

20 CENTRAL ELECTRICITY REGULATORY COMMISSION NEW DELHI Petition No. 309/2010 Coram: Dr. Pramod Deo, Chairperson Shri S.Jayaraman, Member Shri V.S.Verma, Member Date of Hearing: Date of Order: In the matter of: Approval under Regulation 86 of Central Electricity Regulatory Commission (Conduct of Business) Regulations'1999, and Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations'2009, for Tariff determination for the 1x125 MVAR Bus Reactor at Khandwa and 1x125 MVAR Bus Reactor at Dehgam along with bays associated under WRSS VII Transmission Scheme in Western Region from period from to And In the matter of: PowerGrid Corporation of India Ltd., Gurgaon Vs... Petitioner 1. Madhya Pradesh Power Trading company Ltd., Jabalpur 2. Maharashtra State Electricity Distribution Company Ltd., Mumbai 3. Gujarat Urja Vikas Nigam Ltd. Vadodara 4. Electricity Department. Goa, Panaji 5. Electricity Deptt. Administration of Daman and Diu, Daman 6. Electricity Deptt., Govt. of UT of Dadra and Nagar Haveli, Silvassa 7. Chattisgarh State Electricity Board, Raipur. 8. Madhya Pradesh Audyogik Kendra Vikas Nigam Ltd., Indore... Respondents The following was present: Shri. U K Tyagi, PGCIL Shri Rajeev Gupta, PGCIL Shri. S S Raju, PGCIL Shri B Vamsi ORDER This petition has been filed seeking approval of transmission tariff in respect of 1x125 MVAR Bus Reactor at Khandwa (hereinafter referred to as -;;;...~\ "~Jorder in Petition No. 309/2010

21 "the single asset") and 1x125 MVAR Bus Reactor at Dehgam along with bays associated (both the assets collectively referred to hereinafter as "the combined assets") under WRSS VII Transmission Scheme in the Western Region for the period from to , based on the Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, 2009, (hereinafter referred to as "the 2009 regulations"). The petitioner has also sought the following reliefs: (a) Allow the petitioner, in case of the assets being combined, to calculate the transmission charges to recover full depreciation (90%) of the gross block) of the assets during the useful life (25 years for SIS and 35 years for Transmission lines) reckoning from the actual date of commissioning and permit the petitioner to treat the recovery of depreciation after achieving the useful life by an asset in accordance with para 9.1 of the petition. (b) Allow grossing up of base rate of return with the applicable tax rate as per the Finance Act for the relevant year and direct settlement of tax liability between the generating company/transmission licensee and the beneficiaries/long term transmission customers on year to year basis. (c) Approve reimbursement of expenditure towards petition filling fee and publishing of notices in newspapers in terms of regulation 42 of the 2009 regulations and other expenditure (if any) in relating to filling of petition. ~;'''.~\ ~~;; Order in Petition No. 309/2010

22 (d) Allow the petitioner to bill and recover Service Tax on transmission charges separately from the respondents if at any time exemption from Service Tax is withdrawn and transmission of power is notified as a taxable service. (e) Allow the petitioner to bill and recover Licensee fee separately from the respondents (f) Allow the petitioner to bill and adjust the impact on Interest on Loan due to change in Interest rate on account of floating rate of interest applicable during , if any, from the respondents. (g) Pass such other relief as Hon'ble Commission deems fit and appropriate under the circumstances of the case and in the interest of justice. 2. Investment approval for the transmission scheme was accorded by the Board of Directors of the petitioner company vide their letter dated at an estimated cost of ~ 3205 lakh including IDC of ~ 169 lakh based on 3 rd quarter, 2007 price level. 3. Date of commercial operation of the components whose Transmission charges are being determined in this petition are as under: I, Detail of the asset Date of commercial I~ operation 1x125 MVAR Bus Reactor at Khandwa alone with associated bays and 1x125 MVAR Bus Reactor at Dehqarn along with associated bays Remarks Within schedule as per the investment approval,~;...~. \,;; Order in Petition No. 309/2010 ~.>' Page 3 of 23

23 4. The petitioner has claimed the following transmission charges: Sinale Asset ~ in lakh) (Pro Rata) Depreciation Interest on Loan Return on equity Interest on Working Capital 2.36 o & M Expenses Total Combined Assets (Pro-ratal Depreciation Interest on Loan Return on equity Interest on Working Capital O&M Expenses Total The details submitted by the petitioner in support of its claim for interest on working capital are given hereunder: Sin!lIe Asset ~ in lakh) (Pro- ratal Maintenance Spares & M expenses 4.62 Receivables Total Interest 2.36 Rate of Interest 11.75% Combined Assets (pto-ratal Maintenance Spares & M expenses Receivables Total Interest Rate of Interest 11.75% 11.75% 11.75% 11.75% 6. None of the respondents have filed reply to the petition. i;»,'" :,~~~~; Order in Petition No. 309/2010 ~yt:,y Page 4 of 23

24 7. Having heard the representatives of the parties and examined the material on record, we proceed to dispose of the petition. CAPITAL COST 8. Clause 7(1) of the 2009 regulations provides as under: "7. Capital Cost. (1) Capital costfor a project shall include: (a) the expenditure incurred or projected to be incurred. including interest during construction and financing charges, any gain or loss on account of foreign exchange risk variation during construction on the loan - (i) being equal to 70% ofthe funds deployed, in the event ofthe actual equity in excess of30% ofthe funds deployed, by treating the excess equity as normative loan, or (ii) being equal to the actual amount of loan in the event of the actual equity less than 30% of the funds deployed, - up to the date of commercial operation of the project, as admitted by the Commission, after prudence check; (b) capitalised initial spares subject to the ceiling rates specified in regulation B;and (c) additional capital expenditure determined under regulation 9: Provided that the assets forming part of the project, but not in use shall be taken out ofthe capital cost. " 9. Details of the apportioned approved cost as on date of commercial operation and estimated additional capitalization projected to be incurred for the assets covered in this petition are summarized below: (~in lakh) Name of the asset Apportione Expenditure Projected expenditure during Total d ason date of Approved commercial to Cost operation Bus Reactor at 400/220 kv Khandwa Bus Reactor at 400/220 kv Dehzam Combined asset of Bus Reactor at 400/220 kv Dehgam (Notional DOCO: ) Estimated Completio n cost * * * ,..;.;»,~, Page 5 of 23 (~-ii0rder in Petition No. 309/2010

25 *Capital cost as on Date of Commercial operation is inclusive of initial spares of ~ lakh ( ~ lakh and ~ lakh for the individual assets) 10. As per the Auditors certificate dated , the petitioner has claimed initial spares of ~ lakh (~ lakh and ~ lakh) in respect of the above mentioned assets. The above stated cost of Initial spares amounting to ~ lakh is in excess by ~ lakh as ceiling limit defined in clause 8 of the 2009 regulations as per the detail given bellow: Project Cost as on Cut off date Apportioned Initial Spares Claimed Ceiling Limits as per clause 8 of the 2009 regulations (~in lakh) Initial Spares worked out Excess Initial Spares (Diaallowed) (a) (b) (e) (d)=*((a-b)*e) I (loo-e)% (e)=(b)-(d) ( ) 2.5% Based on the above, the capital cost for the purpose of tariff determination has been reduced by the amount of excess cost included in the Initial Spares. 12. After the above stated adjustment towards excess initial spares, the capital expenditure of ~ lakh for the Single Asset as on and ~ lakh for Combined Assets as on has been considered for tariff determination for period. ADDITIONAL CAPITAL EXPENDITURE 13. With regard to additional capital expenditure, clause 9(1) of the 2009 regulations prescribes as under: age 6 of 23

26 "Additional Capitalisation: (1) The capital expenditure incurred or projected to be incurred, on the following counts within the original scope of work, after the date of commercial operation and up to the cut-off date may be admitted by the Commission, subject to prudence check: (i) Undischarged liabilities; (ii) XXX (iii) XXX (iv) XXX (v) XXX" 14. Besides, the 2009 regulations defines cut-off date as under: "cut-off date means 31 st march of the year closing after 2 years of the year of commercial operation of the project, and incase of the project is declared under commercial operation in the last quarter of the year, the cut-off date shall be er March of the year closing after 3 years of the year of commercial operation n. 15. The petitioner has claimed additional capital expenditure amounting to ~ lakh, ~ lakh and ~ lakh for the year (from the date of commercial operation to ), and respectively. Since the above stated expenditures are all within the cut-off date, the same are allowed for the purpose of tariff calculation. DEBT EQUITY RATIO 16. Clause (1) of Regulation 12 of the 2009 regulations inter alia provides that, (1) For a project declared under commercial operation on or after , if the equity actually deployed is more than 30% of the capital cost, equity in excess of 30% shall be treated as normative loan: Provided that where equity actually deployed is less than 30% of the capital cost, the actual equity shall be considered for determination of tariff: Provided further that the equity invested in foreign currency shall be designated in Indian rupees on the date of each investment. (2) XXX. 17. Details of debt-equity claimed by the petitioner are as under:.~;''''''\ <~>Order in Petition No. 309/2010 Page 7 of 23

27 (~in lakh) Capital Cost as on Date of commercial Approved Cost operation Single Asset Debt % % Equitv % % Total % % Combined Assets Debt % % Ecultv % % Total % % 18. As there is a difference between the capital as claimed by the petitioner and that allowed herein above, correspondingly, there is a difference in debt equity details also, as provided hereunder: (~ in lakh) Capital Cost as on date of commercial Approved operation Single Asset Debt % % Equity % % Total % % Combined Assets Debt % % Equity % % Total % % 19. As regards the additional capital expenditure, debt-equity ratio of 70:30 has been applied as per the following details: (~in lakh) Actual Normative ~Iakh % ~Iakh % Sinale Asset Add Cap for Debt % % Equitv % % Total % %,.~...~ t~';: Order in Petition No. 309/2010

28 ~ in lakh) Combined Assets Add Cap for Actuals Normative Debt % % Equity % % Total % % Add Cap for Debt % % Equity % % Total % % Add Cap for Debt % % Equity % % Total % % RETURN ON EQUITY 20. Regulation 15 of the 2009 regulations provides that, "15. (1) Return on equity shall be computed in rupee terms, on the equity base determined in accordance with regulation 12. (2) Return on equity shall be computed on pre-tax basis at the base rate of 15.5% to be grossed up as per clause (3) of this regulation: Provided that in case of projects commissioned on or after 1st April, 2009, an additional return of 0.5% shall be allowed if such projects are completed within the timeline specified in Appendix-II: Provided further that the additional return of 0.5% shall not be admissible if the project is not completed within the timeline specified above for reasons whatsoever. (3) The rate of return on equity shall be computed by grossing up the base rate with the normal tax rate for the year applicable to the concerned generating company or the transmission licensee, as the case may be: Provided that return on equity with respect to the actual tax rate applicable to the generating company or the transmission licensee, as the case may be, in line with the provisions of the relevant Finance Acts of the respective year during the tariff period shall be trued up separately for each year of the tariff period along with the tariff petition filed for the next tariff period. (4) Rate of return on equity shall be rounded off to three decimal points and be computed as per the formula given below: Rate of pre-tax return on equity = Base rate / (1-t) Where t is the applicable tax rate in accordance with clause (3) of this regulation.,.~.",.~ Page 9 of 23 <~;~order in Petition No. 309/2010

29 21. Return on equity has been calculated based on Average equity consequent to additional capital expenditure during the period to Return on Equity has been calculated as follows- Base rate/(1-t), where Base Rate is 15.5% and 't' is normal tax rate for the period applicable to PowerGrid which is under MAT i.e. 10%+ Cess. 22. The petitioner has also prayed that it may be allowed to gross up the base rate of ROE as per the Finance Acts of the relevant years. This prayer has already been taken cognizance of in the Commission's order dated in Petition 1\10. 17/2010 wherein a decision has been taken to address the issue raised by the petitioner. Relevant portion of the said order is extracted as under: "We are of the view that this issue of 'grossing up the base rate with the normal tax rate for the year ' is generic in nature and therefore, it will be appropriate to make suitable provisions in the 2009 regulations to cater to any future changes in the tax rate. Accordingly, we direct the staff of the Commission to prepare and submit draft amendment to the 2009 regulations for allowing grossing up of base rate of return with the applicable tax rate as per the Finance Act for the relevant year and direct settlement of tax liability between the generating company/transmission licensee and the beneficiariesllong term transmission customers on year to year basis. Any under/over recovery on account of direct settlement of tax liability shall be subject to the final adjustment at the time of true up exercise." 23. Pending decision on revision of MAT rate, ROE has been computed as per Regulation 15 of the 2009 regulations, and pre-tax ROE of % has been considered. 24. As the single asset has been commissioned on , RoE in respect of the same has been calculated for six months in the year 2010 ':...~ Page 10 of 23 \.~;: Order in Petition No. 309/2010 rx1

30 11.Detailed calculation of the ROE in respect the transmission assets is as under: Single Asset (~ in lakh) {Pro ratal Opening Equity Addition due to Additional Capitalisation Closing Equity Average Equity Return on Equity (Base Rate) 15.50% Tax rate for the year (MAT) 11.33% Rate of Return on Equity (Pre Tax) % Return on Equity (Pre Tax) Combined Assets (Pro rata) ~ in lakh) Opening Equity Addition due to Additional Capitalisation Closing Equity Average Equity Return on Equity (Base Rate) 15.50% 15.50% 15.50% 15.50% Tax rate for the year (MAT) 11.33% 11.33% 11.33% 11.33% Rate of Return on Equity (Pre Tax) % % % % Return on Equity (Pre Tax) INTEREST ON LOAN 25. Regulation 16 of the 2009 regulations provides that, "16. (1) The loans arrived at in the manner indicated in regulation 12 shall be considered as gross normative loan for calculation of interest on loan. (2) The normative loan outstanding as on shall be worked out by deducting the cumulative repayment as admitted by the Commission up to from the gross normative loan. (3) The repayment for the year of the tariff period shall be deemed to be equal to the depreciation allowed for that year: (4) Notwithstanding any moratorium period availed by the generating company or the transmission licensee, as the case may be the repayment of loan shall be considered from the first year of commercial operation of the project and shall be equal to the annual depreciation allowed,.,~;"".~ age 11 of 23 ~ Order in Petition No. 309/2010

31 (5) The rate of interest shall be the weighted average rate of interest calculated on the basis of the actual loan portfolio at the beginning of each year applicable to the project: Provided that if there is no actual loan for a particular year but normative loan is still outstanding, the last available weighted average rate of interest shall be considered: Provided further that if the generating station or the transmission system, as the case may be, does not have actual loan, then the weighted average rate of interest of the generating company or the transmission licensee as a whole shall be considered. (6) The interest on loan shall be calculated on the normative average loan of the year by applying the weighted average rate of interest. (7) The generating company or the transmission licensee, as the case may be, shall make every effort to re-finance the loan as long as it results in net savings on interest and in that event the costs associated with such re-financing shall be borne by the beneficiaries and the net savings shall be shared between the beneficiaries and the generating company or the transmission licensee, as the case may be, in the ratio of 2:1. (8) The changes to the terms and conditions of the loans shall be reflected from the date of such re-financing. (9) In case of dispute, any of the parties may make an application in accordance with the Central Electricity Regulatory Commission (Conduct of Business) Regulations, 1999, as amended from time to time, including statutory re-enactment thereof for settlement of the dispute: Provided that the beneficiary or the transmission customers shall not withhold any payment on account of the interest claimed by the generating company or the transmission licensee during the pendency of any dispute arising out of re-financing of loan." 26. In these calculations, interest on loan has been worked out as detailed below: (a) Gross amount of loan, repayment of instalments and rate of interest and weighted average rate of interest on actual average loan have been considered as per the petition. (b) The repayment for the tariff period shall be deemed to be equal to the depreciation allowed for that period. ~..,.;;,,, Page 12 of 23 ;,~~) Order in Petition No. 309/2010 "'-'Y

32 (c) In respect of the moratorium period availed by the transmission licensee, the repayment of the loan shall be considered from the first year of commercial operation of the project and shall be equal to the annual depreciation allowed. (d) Weighted average rate of interest on actual average loan worked out as per (a) above is applied on the notional average loan during the year to arrive at the interest on loan. (e) The interest on Loan has been calculated on the basis of rate prevailing as on /date of commercial operation. Any subsequent change in rate of Interest will be considered at the time of truing up. (f) As mentioned hereinabove, tariff is to be allowed for the Single Asset only for the month of October'2010. Repayment of Normative Loan i.e. ~ 2.85 lakh for the Single Asset for the month ofoctober 2010 has been considered as cumulative Repayment of Normative Loan for Combined Assets as on Notional date of commercial operation i.e Detailed calculation of the weighted average rate of interest in respect of the two transmission assets are annexed to this order as Annexure -I and Annexure - II. Details of the calculation of Interest on Loan are given overleaf. ~"".''\ \.~: Order in Petition No. 309/2010 Page 13 of 23 30

33 Single Asset (Pro rata) Gross Normative Loan Cumulative Repayment upto Previous Year 0.00 Net Loan-Opening Addition due to Additional Capitalisation Repayment during the year I Net Loan-Closing Average Loan Weighted Average Rate of Interest on Loan % Interest (~in lakh) I Combined Assets I (Pro rata) Gross Normative Loan Cumulative Repayment upto Previous Year Net Loan-Opening Addition due to Additional Capitalisation Repayment during the year Net Loan-Closina Averaae Loan Weiahted Averaae Rate of Interest on Loan % % % % Interest DEPRECIATION 28. Regulation 17 of the 2009 regulations provides for computation of depreciation in the following manner, namely: "17. (1) The value base for the purpose of depreciation shall be the capital cost of the asset admitted by the Commission. (2) The salvage value of the asset shall be considered as 10% and depreciation shall be allowed up to maximum of 90% of the capital cost of the asset. xxxx xxxx (3) Land other than the land held under lease and the land for reservoir in case of hydro generating station shall not be a depreciable asset and its cost shall be excluded from the capital cost while computing depreciable value of the asset. (4) Depreciation shall be calculated annually based on Straight Line Method and at rates specified in Appendix-III to these regulations for the assets of the generating station and transmission system: Provided that, 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..~.f.."."'\ Page 14 of 23 (~.;: Order in Petition No. 309/2010 3/

34 (5) In case of the existing projects, the balance depreciable value as on shall be worked out by deducting the cumulative depreciation as admitied by the Commission up to from the gross depreciable value of the assets. (6) Depreciation shall be chargeable from the first year of commercial operation. In case of commercial operation of the asset for part of the year, depreciation shall be charged on pro rata basis. " 29. The assets involved in the petition were commissioned on and Accordingly they will complete 12 years beyond and thus depreciation has been calculated annually based on Straight Line Method and at rates specified in Appendix-III. Depreciation of Asset-1 for the month of October'2010 has been considered as cumulative Depreciation for the Combine Asset As the single asset has been commissioned on , depreciation in respect of the same has been calculated for six months in the year Based on the above, depreciation for the period the tariff period has been worked out are as under: (~ in lakh) Sinale Asset (Pro rata) Opening Gross Block (As per Last OrderIDOCO) Addition during due to Projected Additional Capitalisation Closinq Gross Block Averaoe Gross Block Rate of Depreciation % Depreciable Value 90% Remaininq Depreciable Value Depreciation ~ in lakh) Combined Assets (Pro rata) Ooenino Gross Block (As per Last Order/DOCOI Addition during due to Projected Additional Capitalisation Closino Gross Block Averaae Gross Block Rate of Depreciation % % % % Depreciable Value 90% Remainino Depreciable Value Depreciation !l ~'d.g~,~.q;. l"c' J~Hf?; ~~.~.:~.;...~ Page 15 of 23 '.~;order in Petition No. 309/2010

35 OPERATION & MAINTENANCE EXPENSES 31. Clause (g) of Regulation 19 the 2009 regulations prescribes the following norms for operation and maintenance expenses based on the type of sub-station and line. It is seen that the petitioner has claimed O&M charges based on the above norms. Accordingly, O&M charges have been ~ lakh (pro-rata) for the year for the Single asset ~ lakh, ~ lakh, ~ lakh and ~ akh for (Pro rata), , and respectively for the combined assets. 32. As stated above, the petitioner has reserved the right to approach the Commission for suitable revision in the norms for 0&1\11 expenditure in case the impact of wage hike w.ej is more than 50%. This issue is premature at this stage. Petition, if any filed by the petitioner will be dealt with in accordance with the provisions of law. INTEREST ON WORKING CAPITAL 33. As per the 2009 regulations, the components of the working capital and the interest thereon are discussed hereunder: (h) Receivables: As per Regulation 18(1)(c)(i) of the 2009 regulations, receivables will be equivalent to two months' average billing calculated on target availability level. The petitioner has claimed the receivables ~.;...~ '\ ~.~;::order in Petition No. 309/2010 Page 16 of 23

36 In the tariff being allowed, receivables have been worked out on the basis of 2 months' transmission charges. (ii) Maintenance spares: Regulation 18(1)(c)(ii) of the 2009 regulations provides for maintenance 15% per annum of the o & M expenses from The value of maintenance spares has accordingly been worked out. (iii) 0 & M expenses: Regulation 18(1) (c) (iii) of the 2009 regulations provides for operation and maintenance expenses for one month as a component of working capital. The petitioner has claimed O&M expenses for 1 month of the respective year as claimed in the petition. This has been considered in the working capital. (iv) Rate of interest on working capital: As per Regulation 18(3) of the 2009 regulations, rate of interest on working capital shall be on normative basis and shall be equal to the short-term Prime Lending Rate of State Bank of India as on or on 1st April of the year in which the project or part thereof (as the case may be) is declared under commercial operation, whichever is later. The interest on working capital is payable on normative basis notwithstanding that the transmission licensee has not taken working capital loan from any outside agency. The petitioner has claimed interest on working 12.25% based on SBI PLR as on , which is in accordance with the 2009 regulations and has been allowed. ~;..~.~\ age 17 of 23 \~; Order in Petition No. 309/2010

37 34. Necessary computations in support of interest on working capital are appended hereinbelow: (~ in lakh) sinale Asset For October 2010 Maintenance Spares 1.39 O&Mexpenses 0.77 Receivables 4.54 Total 6.69 Rate of Interest 11.75% Interest 0.39 (~ in lakh) Combined Assets (Pro rata) Maintenance Spares o & M expenses Receivables Total Rate of Interest 11.75% 11.75% 11.75% 11.75% Interest TRANSMISSION CHARGES 35. The transmission charges being allowed for the transmission lines are summarized below: Sin ale Asset (~in lakh) (Pro ratal Depreciation 2.85 Interest on Loan 2.92 Return on equity 2.83 Interest on Working Capital 0.39 o &M Expenses 4.62 Total Combined Assets (Pro ratal Depreciation Interest on Loan Return on equity Interest on Working Capital o & M Expenses Total i.;.-.~", Page 18 of 23 ;~~) Order in Petition No. 309/2010 ",,-,y

38 APPLICATION FEE AND THE PUBLICATION EXPENSES 36. The petitioner has sought approval for the reimbursement of fee paid by it for filing the petition. In accordance with our decision in order dated in Petition No. 109/2009, the petitioner shall be entitled to recover the filing fee from the beneficiaries. 37. Accordingly, expenses incurred by the petitioner on application filing fees and publication of notices in connection with the present petition shall be directly recovered from the beneficiaries on pro rata basis. SERVICE TAX 38. The petitioner has made a specific prayer to be allowed to bill and recover the Service tax on Transmission charges separately from the respondents if at any time exemption from Service tax is withdrawn and transmission of Power is notified as a taxable Service. This prayer of the petitioner is premature. If such a contingency as foreseen by the petitioner arises, the issue will be decided in accordance with law. 39. The transmission charges allowed in this order shall be recovered on monthly basis in accordance with Regulation 23 and shall be shared by the respondents in accordance with Regulation 33 of the 2009 regulations. 40. This order disposes of Petition No. 309/2010. Sd/ Sd/- Sd/ (V.S.Verma) (S.Jayaraman) (Dr. Pramod Deo) Member Member Chairperson ~;"\r.'" ~-?; Order in Petition No Page 19 of 23

39 (~ In lakh) Annexure-l 1 CALCUALTION OF WEIGHTED AVERAGE RATE OF INTEREST Details of Loan Bond XXXI Gross loan opening Cumulative Repayment upto DOCO/previous year Net Loan-Opening Additions during the year Repayment during the year Net Loan-Closing Average Loan Rate of Interest Interest Rep Schedule % Bond XXXIII Gross loan opening Cumulative Repayment upto DOCO/previous year Net Loan-Opening Additions during the year Repayment during the year Net Loan-Closing Average Loan Rate of Interest Interest Rep Schedule % Bond XXXIII (ADD CAP For Drawls on ) Gross loan opening Cumulative Repayment upto DOCO/previous year Net Loan-Opening Additions during the year Repayment during the year Net Loan-Closing Average Loan Rate of Interest Interest Rep Schedule % 2.85 ~~~~.~;"'".~ ~..,t.. -I Page 20 of 23 <~>order in Petition No. 309/2010 I' ~~\ ~} 37 I

40 Annexure- 2 CALCULATION OF WEIGHTED AVERAGE RATE OF INTEREST ON LOAN (~ in lakh) --,-~ Details of Loan Bond XXXI Gross loan opening ~ Cumulative Repayment upto DOCO/previous year Net Loan-Opening Additions durinq the year Repayment during the year Net Loan-Closing Average Loan ~OO a r-rate of Interest 8.90% 8.90% 8.90% 8.90% Interest Rep Schedule 12 Annual instalments from f- I - 3 Bond XXXIII Gross loan opening Cumulative Repayment upto DOCO/previous year Net Loan-Opening Additions durina the year Ṛepayment during the year '- Net Loan-Closing ~verage Loan Rate of Interest 8.64% 8.64% 8.64% 8.64% Interest Rep Schedule 12 annual installments from ~ ~ ADB III (Exchange 45.44) Gross loan opening Cumulative Repayment upto DOCO/previous year Net Loan-Opening Additions durina the year Repayment during the year f-. Net Loan-Closing Average Loan Rate of Interest 1.72% 1.72% % 1.72% Interest I Rep Schedule Half yearly Instalments from >;~..\\ Page 22 of 23 ;\~> Order in Petition No. 309/2010 "'~~

41 4 ADB III (Exchange Gross loan openino Cumulative Repayment upto DOCO/orevious vear Net Loan-Opening Additions during the year Repayment during the year Net Loan-Closing Average Loan Rate of Interest 1.72% 1.72% 1.72% 1.72% Interest Rep Schedule Half yearly Instalments from Total Loan Gross loan opening Cumulative Repayment upto DOCO/previous year Net Loan-Opening Additions during the year Repayment during the year Net Loan-Closing Average Loan Rate of Interest % % % % Interest ~.;»,~ Page 23 of 23 :<~-?: Order in Petition No. 309/2010

42 HUH l\jo (S. );nada Dc'" Slicer. SAGAR & ASSOCIATES Pre m i'jagar. Hyderabad CHARTERED ACCOUNTANTS Phone S5 88 [-ax J9 0 I S I F rna". sagarandassoclates(cl)yahoo.coln F-rn.ul sagilrilndassdciates.ca(ci)gmall.com EIl'a" vvsagmbabuc0gmad.com Service T,lX Regn. No. AAJFS7295N STOOl CERTIFICATE OF CAPITAL COST Project Name: 1'125 MVAR 8us Roactor at Khandwa Substation along with assoclatod bays under WRSS VII SCheme Date of Commercial Operation: DOCO PARTICULARS Expenditure upto (u pta DOCO) Expenditure from upto Expenditure from upto Expenditure Expenditure Expendilure (RS I LAKHS) l Total Expenditure LAND BUILDING,CIVIL WORKS & COLONY TRANSMISSION LINE SUB STATION PLCC Total Initial Spares Included In the above "'Note :-Incluslve of FERV of Rs.1.68 Lakhs Loss upto pertaining to ADB 111 Loan for the period upto taken to Profit & Loss Account of the project as per Accounting Standard 11 revised 2003 (The effects of Changes In Foreign Exchange Rates) and Accounting Standard-16 (Borrowing costs) Issued by Institute of Chartered Accountants of India and as per opinion of Expert Advisory Committee of ICAI. This Is to certify that the above summary has been prepared on the basis of the information drawn from the Audited Statement of Accounts of Power Grid Corporation of India ltd., Western Region li, Vadodara upto Place: Hyderabad Date: BO_ No. 38, (Old No. 14), Second Main Road. CIT Colony, Mylapor, nai Tel BO.: Flat No. 3C, [eevan Residency. Behind Kalanjali. Renigunta Road. Tlrupati I. B 0 H.No Mehar Nagar. Old Gajuwaka. Visakhaparnarn

43 H.O l-lno ;S. Sar~d~ Dev, S,/(~e, SAGAR & ASSOCIATES hem N~gM. Hvderabac CHARTERED ACCOUNTANTS Phone rax E-rn.ld sagarilndassociates(c.vydnoo,(o.m t nllri sagar;)ndassociates.ca(ivgflljd C01Ti E '''''i1 vvs:lg:lrbabu(q)gmad.r om Serv«.e T;,x Regn No. AAjFS7295N STOOl CERTIFICATE OF CAPITAL COST Project Name: 1*125 MVAR Bus Reactor at Khandwa Substation along with associated bays under WRSS VII Scheme Date of Commercial Operation: DOCO ( RSJ LAKHS) PARTICULARS CAPITAL COST *** IEDC IDC TOTAL Expenditure upto (upto DOCO) Expenditure from upto Expenditure from upto Expenditure Expenditure Expenditure Total ***Note ;- inclusive of FERV of Rs.1.68 Lakhs Loss upto pertaining to ADB III Loan for the period upto taken to Profit & Loss Account of the project as per Accounting Standard -11 revised 2003 (The effects of changes in Foreign Exchange Rates) and Accounting Standard-16 (Borrowing costs) issued by Institute of Chartered Accountants of India and as per opinion of Expert Advisory Committee of ICAI. This is to certify that the above summary has been prepared on the basis of the information drawn from the Audited Statement of Accounts of Power Grid Corporation of India Ltd., Western Region-II, Vadodara upto Place: Hyderabad Date: J -42- BO. No. 38. (Old No 14). Second Main Road. c.1.t. Colony, Mylapore. Chennai Tel: B.a. Flat No. 3C. Jeevan Residency. Behind Kalanjali. Rerugunta Road. Tirupati I. B o HNo Mehar Nagar. Old Gajuwaka. Visakhapatnam

44 110 H No 6 ) 244,'5. Sar"da Oev. Su c,:<. SAGAR & ASSOCIATES Prcrn Nag.1r. Hydcrabad !'hone CHARTERED ACCOUNTANTS r ax I 5 I E mail : sagarandassociates(ci)yolhoo.co.m i- -mail sagarandassociates.ca(i'iigrnatl corn vvsagarbabu@gmail.com Service Tax Regn. No. AAjFS7295N STOOl CERTIFICATE OF CAPITAL COST Project Name: 1"125 MVAR Bus Reactor at Dehgam Substation along with associated bays under WRSS VII Scheme Date of Commercial Operation: DOCO PARTICULARS Expenditure upto [upto DOCO) Expenditure to Expenditure I , Expenditure Expenditure (RS I LAKHS) Total Expenditu re LAND BUILDING,CIVIL WORKS & COLONY TRANSMISSION LINE SUB-STATION PLCC Total Initial Spares Included In the above """Note :- Inclusive of FERV of Rs Lakhs Loss upto pertaining to ADS -III Loan for the period upto taken to Profit & Loss Account of the project as per Accounting Standard -11 revised 2003 (The effects of changes In Foreign Exchange Rates) and Accounting Standard-16 (Borrowing costs) Issued by Institute of Chartered Accountants of India and as per opinion of Expert Advisory Committee of ICAI.. This is to certlfy that the above summary has been prepared on the basis of the information drawn from the Audited Statement of Accounts of Power Grid Corporation of India Ltd., Western Region-II, Vadodara upto For Sagar & Associates Chartered Accountants»»: '-$:?~ (/Jt '... /.~s E~Ih'~No. 00~3510S /, 1 \',,' Place: Hyderabad \*... H"L'"r-:;\'\;'~9.:r.~r.inivasa Rao) Date: '.'; Partner \'.!} /K,:N~ ~,~~~~~~~?'"!~ (-~~..,-,~.~~~~~/ -4?J BO No 38, (Old No. 14), Second Main Road. CI.T Colony, Mylapo.nai Tel: BO.: Flat No. 3C Jeevan Residency. Behind Killanjali, Reniguma Road, Tirupati I. 80 H.No , Mehar Nagar. Old Gajuwaka. Visakhapatnarn

45 H 0!iNo iS. )arad" Dev' Sneei SAGAR & ASSOCIATES I',,>m N"gor Hvderabad I'hull" S 88 CHARTERED ACCOUNTANTS r-u f m;,i! : >agar,,"da\soc'~te5c(pyahoo.coll f -111(\11. sflgarandassociates.ca(il)grrl;\i! (0111 E ma,1 vvs"garbabu(ri)gma,l.com Scrvrce Tax Regn, No. AAjFS729SN 5'1'001 CERTIFICATE OF CAPITAL COST Project Name: 1*125 MVAR Bus Reactor at Dehgam Substation along with associated bays under WRSS VII Scheme Date of Commercial Operation: DOCO 01.11,2010 ( RS.I LAKHS) PARTICULARS CAPITAL COST U JEDC IDC TOTAL Expenditure upto (upto DOCO) ,36 17,97 719,65 Expenditure to , Expenditure , Expenditure Expenditure Total UNote:- inclusive of FERVof Rs Lakhs Loss upto pertaining to ADS -III Loan for the period upto taken to Profit & Loss Account of the project as per Accounting Standard -11 revised 2003 (The effects of changes in Foreign Exchange Rates) and Accounting Standard-16. (Borrowing costs) issued by Institute of Chartered Accountants of India and as per opinion of Expert Advisory Committee of ICAI. This is to certify-that the above summary has been prepared on the basis of the information drawn from the Audited Statement of Accounts of Power Grid Corporation of India Ltd., Western Region-II, Vadodara upto Place: Hyderabad Date: = _. B 0. No. 38, (Old No. 14), Second Main Road. CI.T Colony, Mylapore, Chennai Tel' B.O,: Flat No. 3C, [eevan Residency. Behind Kalanjali. Renigunta Road. Tirupati SO I. B.O H.No Mehar Nagar. Old Gajuwaka. Visakhapatnarn

46 Summary Sheet Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element: 1*125 MVAR BUS REACTOR AT KHANDWA S!S Date of Commercial Operation: 01-0ct-2010 Form I Rs. in Lacs Particulars Revised Depreciation-(Form No. 11) a Interest on loan-(form No. 13A) a Return on Equity-(Form No. IA) a Int. on Working Capital-(Form No. 13B) a Op. and Maintenance-(Form No.2) a Total Note: Form 1 for Pro-Rata Tariff from to A&$[1 l' 1AAIPr ~ 4s +0 3t I 0.;(nK)

47 Summary Sheet Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element: 1*125 MVAR BUS REACTOR AT KHANDWA SIS Date of Commercial Operation: 01-0ct-2010 Form I Rs. in Lacs Particulars Revised Depreciation-(Form No. 11) Interest on Loan-(Form No. 13A) Return on Equity-(Form No. IA) Int. on Working Capital-(Form No. 13B) Op. and Maintenance-(Form No.2) Total

48 Calculation of Return on Equity Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element: 1*125 MVAR BUS REACTOR AT KHANDWA sts Date of Commercial Operation: 01-0ct-2010 Form IA Rs. in Lacs Particulars Revised Opening Equity Notional Equity on Add Cap Total Equity Average Equity Rate of Return on Equity (%) Return on Equity Pro rata Return on Equity Calculation of Grossed up Rate of ROE Rate of ROE Time Line Incentive Effective Rate of ROE MAT Rate Grossed up Rate of ROE

49 Financial Package upto COD (Block Year ) Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION I\lame of the Project: WRSS - VII Name of the Transmission Element: 1*125 MVAR BUS REACTOR AT KHANDWA S!S Date of commercial Operation: 01-0ct-2010 Loans Form-6 Rs. In Lakhs Particulars Financial Package as Financial Package as on As Admitted by COD! Approved COD Currency and Amount Currency and Amount Currency and Amount Loans-Domestic INR 0 INR Loans-Foreign INR Total Loans INR o INR INR Equity Foreign Domestic INR o INR Notional Total Equity INR o INR INR Debt Equity Ratio 70:30:00 Total Cost INR o INR INR Debt Equity Total Add Cap for Add Cap for Add Cap for Add Cap for Actual Normative Debt Equity Total Total Capital cost with Addcap ::.- c. :::..tet. <f ~8-}. (Petitioner) - 4cg

50 Statement of Additional Capitalisation after COD Name of the Petitioner: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element or Communication system: 1*125 MVAR BUSREACTOR AT KHANDWA SIS Date of Commercial Operation: 01-0ct-2010 Form-9 SI. No. Year Work / Equipment proposed to be added after Amount capitalised and Regulation under which Justification COD uto cut off proposed to be capitalised covered date/beyond cut off date Admitted Cost, ~ ~ SUB STATION Balanee/Retention 9(1) Total SUB STATION Balanee/Rete ntion 9(1) Total SUB STATION Balance/Retention 9(1) Total ~ ttl E:. )<..~' -e: (Petitioner)

51 Form -10 Financing of Additional Capitalisation Name of the Petitioner: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS- VII Name of the Transmission Element or Communication System: 1*lZ5 MVAR BUS REACTOR AT KHANDWA SIS Date of Commercial Operation: Ol-Oct-ZOIO Amount in Lakhs Financial Year Actual/Projected Amount Capitalised in Work/Equipment Admitted Financing Details Loan \ Total Loan Equity Total c::::.-. ~ ~r~~ 1 (Petitioner)

52 Calculation of Depreciation Rate Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element: 1*125 MVAR BUS REACTOR AT KHANDWA SIS Date of Commercial Operation: 01-0ct-2010 Gross Form 11 Rs. in Lacs block at dd Gross h A Cap Average SI. No. Particulars ted'.. unng t h block at D R e Gross ep. ate Amount begrnnmg the end of year Block o f t he the year year 1 FREEHOLD LAND o o o o o o 2 BUILDING o o o o 3.34 o 3 TR LINE o o o o 5.28 o 4 SUB STATION PLCC o o o o 6.33 o 6 LEASEHOLD LAND o o o o 3.34 o Total Weighted Average Rate of Depreciation 5.28 Lapsed life FREEHOLD LAND o o o o o o BUILDING o o o o 3.34 o TR LINE o o o o 5.28 o SUB STATION PLCC LEASEHOLD LAND Total Weighted Average Rate of Depreciation Lapsed life o o o o 6.33 o o o o o 3.34 o FREEHOLD LAND o o o o o o BUILDING o o o o 3.34 o TR LINE o o o o 5.28 o SUB STATION 5 PLCC 6 LEASEHOLD LAND Total Weighted Average Rate of Depreciation Lapsed life o o o o 6.33 o o o o o 3.34 o FREEHOLD LAI\JD o o o 2 BUILDING o o o

53 Calculation of Depreciation Rate Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element: 1*125 MVAR BUSREACTOR AT KHANDWA sis Date of Commercial Operation: 01-0ct-2010 SI. No. Particulars Gross Form 11 Rs. in Lacs block at Gross Add Cap Average the block at beginning during the Gross Dep. Rate Amount the end of year Block of the the year year 3 TR LINE SUB STATION PLCC LEASEHOLD LAND Total Weighted Average Rate of Depreciation 5.28 Lapsed life 4 -~1--

54 Statement of Depreciation Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element or Communication System: 1*125 MVAR BUS REACTOR AT KHANDWA S!S Date of Commercial Operation: 01-0ct-2010 Form loa Rs. in Lacs Particulars Opening Capital Cost AddCap Cost Closing Capital Cost Average Capital Cost Freehold Land (Av. Cost) Rate of Depreciation Depreciable Value Balance useful life of the asset (at the beginning of year) Elapsed life of the asset (at the beginning of the year) Remaining Depreciable Value Depreciation during the year Depreciation upto previous year Cumulative depreciation (incl. of AAD) "'Ife. ~""'9 (Petitioner)

55 Calculation of Weighted Average Rate of Interest on Loans Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element: 1*125 MVAR BUS REACTOR AT KHANDWA SIS Date of Commercial Operation: 01-0ct-2010 Particulars ADB III-ADDCAP FOR AddCap Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan Form 13 Rs. in Lacs a a a a a a a 61.2l a a 1.2l ADB III-ADDCAP FOR AddCap Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-Loan Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB IIl-Loan Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan -5'4 a a a a a a a a a a a a a a a a a a a a a a _-_.O~._CO a ,. '~ a ~<l-v'~ ~A ~ \ a 211.4, '(.9~ ~ \ *.\ ~ r-.. ~~ty;~

56 Form 13 Calculation of Weighted Average Rate of Interest on Loans Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element: 1*125 MVAR BUS REACTOR AT KHANDWA SIS Date of Commercial Operation: 01-0ct-2010 Rs. in Lacs Particulars Rate of Interest on Loan Interest on Loan BOND XXXI-Loanl- Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan Summary Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan IT

57 Calculation of Interest on Normative Loan Name ofthe Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element: 1*125 MVAR BUSREACTOR AT KHANDWA SIS Date of Commercial Operation: 01-0ct-2010 Form 13A Rs. in Lacs Particulars Gross Normative Loan Opening Cumulative Repayments of Normative Loans upto Previous Year Net Normative Loans Opening Increate/Decrease due to ACE during the year Less: Repayment(s) of Normative Loan during the year Net Closing Normative Loan Average Net Normative Loan Rate of Interest on Loan Interest on Normative Loan Pro rata Interest on Normative Loan

58 Calculation of Interest on Working Capital (IWe) Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element: 1*125 MVAR BUS REACTOR AT KHANDWA sis Date of Commercial Operation: 01-0ct-2010 Form 13B Rs. in Lacs Particulars Revised Op. and Maintenance Maintenance Spares Receivables Total working capital Rate of Interest Interest on working capital Pro rata Interest on working capital

59 Summary Sheet Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Form I Name of the Transmission Element: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SiS and 1*125 MVAR Bus Reactor at Dehgam SiS Date of Commercial Operation: 01-Nov-2010 Rs. in Lacs Particulars Revised Depreciation-(Form No. 11) Interest on Loan-(Form No. 13A) Return on Equity-(Form No. IA) Int. on Working Capital-(Form No. 13B) Op. and Maintenance-(Form No.2) Total fd 7[ ()J II to 10 3J D3 l~

60 Calculation of Return on Equity Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam SIS Date of Commercial Operation: 01-Nov-2010 Form IA Rs. in Lacs Particulars / Revised Opening Equity Notional Equity on Add Cap Total Equity Average Equity Rate of Return on Equity (%) Return on Equity Pro rata Return on Equity Calculation of Grossed up Rate of ROE Rate of ROE Time Line Incentive Effective Rate of ROE MAT Rate Grossed up Rate of ROE

61 Financial Package upto COD (Block Year ) Name of the Transmission licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element or Communication Element: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SiS and 1*125 MVAR Bus Reactor at Dehgam sts Date of commercial Operation: 01-Nov-2010 Loans Form-6 Rs. In Lakhs Particulars Financial Package as Financial Package as on As Admitted by CODI Approved COD Currency and Amount Currency and Amount Currency and Amount Loans-Domestic INR INR Loans-Foreign INR Total Loans INR INR INR Equity Foreign Domestic INR INR Notional Total Equity INR INR INR Debt Equity Ratio 70:30:00 Total Cost INR INR INR Debt Equity Total Add Cap for Add Cap for Add Cap for Add Cap for Actual Normative Debt Equity Total Add Cap for Actual Normative Debt Equity Total Add Cap for Actual Normative Debt Equity Total 36.6 Total Capital cost with Addcap ct- ~ K~~,~ - ~l~\~1' I ~"(//, ~ =,,7'(;1\ (Petitioner) I~~\ ~ -)~)

62 Form-9 Statement of Additional Capitalisation after COD Name of the Petitioner: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element or Communication system: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIs and 1*125 MVAR Bus Reactor at Dehgam SIS Date of Commercial Operation: Ol-Nov-20l0 SI. No. Year Work / Equipment proposed to be added after Amount capitalised and Regulation under which Justification CODuto cut off proposed to be capitalised covered date/beyond cut off date Admitted Cost, ~ SUB STATION Balance/Retention 9(1) Total SUB STATION Balance/Retention 9(1) Total SUB STATION 36.6 Balanee/Retention 9(1) Total 36.6 '- arl1=l-~'.f (Petitioner)

63 Name of the Petitioner: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Financing of Additional Capitalisation Name of the Transmission Element or Communication System: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam SIS Date of Commercial Operation: 01-Nov-2010 Financial Year Amount Capitalised in Work/Equipment Actual/Projected Admitted Form -10 Amount in Lakhs Financing Details Loan q:;, I Total Loan Equity Total ~ ~~<l (Petitioner)

64 Calculation of Depreciation Rate Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Form 11 Name of the Transmission Element: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam SIS Date of Commercial Operation: 01-Nov-2010 SI. No FREEHOLD LAND BUILDING TR LINE SUB STATION PLCC LEASEHOLD LAND Total Particulars Weighted Average Rate of Depreciation Lapsed life Gross block at the beginning of the year Add Cap during the year Average Gross Block Gross block at the end of the year Dep. Rate Rs. in Lacs Amount FREEHOLD LAND BUILDING TR LINE SUB STATION PLCC LEASEHOLD LAND Total Weighted Average Rate of Depreciation Lapsed life FREEHOLD LAND BUILDING TR LINE SUB STATION PLCC LEASEHOLD LAND Total Weighted Average Rate of Depreciation Lapsed life FREEHOLD LAI\ID ~ ~e-, ;:~~;--R'~~ e{ i i \~ *\~.~~~

65 Form 11 Calculation of Depreciation Rate Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERI\! REGION Name of the Project: WRSS- VII Name of the Transmission Element: Combined Assets :1*125 MVAR Bus Reactor at Khandwa S!S and 1*125 MVAR Bus Reactor at Dehgam S!S Date of Commercial Operation: 01-Nov-2010 Rs. in Lacs Gross SI. No. Particulars block at Gross Add Cap Average thebeginning the end of block at during the Gross Dep. Rate year Block of the the year Amount year 2 BUILDING TR LINE SUB STATION PLCC LEASEHOLD LAND Total Weighted Average Rate of Depreciation 5.28 Lapsed life 4... _~~\~-r

66 Statement of Depreciation Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Form 12 Name of the Transmission Element or Communication System: Combined Assets :1*125 MVAR Bus Reactor at Khandwa S!S and 1*125 MVAR Bus Reactor at Dehgam S!S Date of Commercial Operation: 01-Nov-2010 Rs. in Lacs Particulars Opening Capital Cost AddCap Cost Closing Capital Cost Average Capital Cost Freehold Land (Av. Cost) Rate of Depreciation Depreciable Value Balance useful life of the asset (at the beginning of year) Elapsed life of the asset (at the beginning of the year) Remaining Depreciable Value Depreciation during the year Depreciation upto previous year Cumulative depreciation (incl. of AAD) ~ -~a.,.ca~ (Petitioner) -bs.

67 Calculation of Weighted Average Rate of Interest on Loans Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIs and 1*125 MVAR Bus Reactor at Dehgam SIS Date of Commercial Operation: 01-Nov-2010 Form 13 Rs. in Lacs Particulars ADB III-ADDCAP FOR AddCap Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-ADDCAP FOR AddCap Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan z.n 1.88 Interest on Loan l ADB III-ADDCAP FOR AddCap Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-ADDCAP FOR AddCap Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year 0.00 ~ Less: Repayment(s) of Loan during the year 0.00 /. ' U(;~Jl, Net Closing Loan 0.00 '~y.. \1.'.'95 J].89 Q; = J.Z ~~ * ~ * -~\~~ ~ 17.05

68 Calculation of Weighted Average Rate of Interest on Loans Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element: Combined Assets :1*125 MVAR Bus Reactor at Khandwa S!S and 1*125 MVAR Bus Reactor at Dehgam S!S Date of Commercial Operation: 01-Nov-2010 Particulars Average Net Loan Rate of Interest on Loan Interest on Loan Form 13 Rs. in Lacs ADB III-ADDCAP FOR AddCap Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-DOCO Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-DOCO Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-DOCO Gross Opening Loan Cumulative Repayments of Loans upto Previous Year ~ / ~ ~ ~~e\~-'i 12~1 z ~b7- * *

69 Calculation of Weighted Average Rate of Interest on Loans Name of the Transmission licensee: Power Grid Corporation of India limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam SIS Date of Commercial Operation: 01-Nov-2010 Form 13 Rs. in Lacs Particulars Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-DOCO Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan BOND XXXI-DOCO- Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan BOND XXXIII-ADDCAP FOR AddCap-l- Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan ~~ Interest on Loan (~~1MO 2.40 I~l "~ *\ ~8~ -

70 Calculation of Weighted Average Rate of Interest on Loans Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SiS and 1*125 MVAR Bus Reactor at Dehgam sis Date of Commercial Operation: 01-Nov-2010 Form 13 Rs. in Lacs Particulars : BOND XXXIII-DOCO- Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan Summary Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan

71 Calculation of Interest on Normative Loan Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Form 13A Name of the Transmission Element: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam SIs Date of Commercial Operation: 01-Nov-2010 Rs. in Lacs Particulars Gross Normative Loan Opening Cumulative Repayments of Normative Loans upto Previous Year Net Normative Loans Opening Increate/Decrease due to ACE during the year Less: Repayment(s) of Normative Loan during the year Net Closing Normative Loan Average Net Normative Loan Rate of Interest on Loan Interest on Normative Loan Pro rata Interest on Normative Loan ~~ -~ ~'I<\'

72 Calculation of Interest on Working Capital (IWe) Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Form 13B Name of the Transmission Element: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam SIS Date of Commercial Operation: 01-Nov-2010 Rs. in Lacs Particulars Revised Op. and Maintenance Maintenance Spares Receivables Total working capital Rate of Interest Interest on working capital Pro rata Interest on working capital / r-:

73 Summary Sheet Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Form I Name of the Transmission Element or Communication System: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam SIS Date of Commercial operation: 01-Nov-2010 Rs. in Lacs Particulars Revised Depreciation-(Form No. loa) Interest on Loan-(Form No. 9E) Return on Equity-(Form No.8) Int. on Working Capital-(Form No. 11) Op. and Maintenance-(Form No.2) Total ~ ~&.'W~ (Petitioner) CoM8/tV ED 1A ~/Pr

74 Name of the Petitioner: Power Grid Corporation of India Limited Name ofthe Region: WESTERN REGION Name of the Project: WRSS - VII Details of Transmission Lines and Substations, Communication System Name of the Transmission element or Communication system: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam SIS Date of Commercial Operation: 01-Nov-2010 Form-2 ~ \jv, Substations: SI. No. Name of Sub-station Type of Voltage No. of No. of Bays Date of Covered in the Substation level KV Transform Commerci present petition ers I al If No, Reacotrsl 132 KV& operation petition SVC etc. 765 KV 400 KV 220 KV below Yes/No No. 1 DEHGAM-l*125 MVAR BUS REACTOR Nov-l0 Y 2 KHANDWA-125 MVAR Bus Reactor Bay Nov-1O Y Total r 2 Communication System: SI. No. Name of Communication System Type of Communication System Technical Particulars Number / length Date of Commerci al operation Covered in the Yes/No If No, petition No. ~.PO~ \~.,It ( ~ 0./... rvo'dg~~'~/ Not Applicable ~ ~. ~.Qf.t14' (Petitioner)

75 Normative parameters considered for tariff computations Name of the Petitioner :: Power Grid Corporation of India Limited Name of the Region :: WESTERN REGION Name of the Project :: WRSS - VII Name of the Transmission Element or Communication System :: Combined Assets :1*125 MVAR Bus Reactor at Khandwa sis and 1*125 MVAR Bus Reactor at Dehgam SIS Date of Commercial Operation: 01-Nov-2010 Form 3 Existing Particulars Unit Base Rate of Return of Equity % 15.50% 15.50% 15.50% 15.50% 15.50% 15.50% Tax Rate % 11.33% 20.96% 20.96% 20.96% 20.96% 20.96% Effective tax rate % Grossed up Rate of ROE % 17.48% 19.61% 19.61% 19.61% 19.61% 19.61% Target availability - AC System % 98% 98% 98% 98% 98% Target availability - HVDC System % 96% 96% 96% 96% 96% Normative O&M per KM Rs. Lakh Double Circuit (Bundle conductor with four Rs. Lakh sub-conductors) Double Circuit (Single Conductor) Rs. Lakh Double Circuit (Two and Three Conductor) Rs. Lakh Multicircuit with four or more conductors Rs. Lakh Multicircuit with two or three conductors Rs. Lakh Single Circuit (Bundled conductor with four Rs. Lakh sub-conductors) Single Circuit (Single Conductor) Rs. Lakh Single Circuit (Six conductor) Rs. Lakh Single Circuit (Twin and Three conductor) Rs. Lakh Normative O&IVI per bay 132KV Sub-station and below Rs. Lakh KV Sub-station Rs. Lakh KV GIS Substation Rs. Lakh KV Sub-station Rs. Lakh KV Sub-station Rs. Lakh Balia-Bhiwadi HVDC Bipole Scheme Rs. Lakh HVDC Back-to Back Stations Rs. Lakh Rihand-Dadri HVDC Bipole Scheme Rs. Lakh Talcher-Kolar HVDC Bipole Scheme Rs. Lakh Spares for WC as % of O&M % Receivables in Months for WC Months Bank Rate as on 1st April, 2014 % I, 13.5 c:::... ~ (Petitioner)

76 Form-4 Page 1 of 1 Abstract of admitted parameters for the existing transmission assets/elements under project. Name of the Petitioner::Power Grid Corporation of India Limited Name of the Region::WESTERN REGION l\lame of the Project:: WRSS - VII!\lame of the Transmission Element or Communication system:: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam S!S Rs. In Lakhs Asset-1 Balance Combined Assets :1*125 MVAR Bus Reactor at Total Capital brought Name of the Assets forward DOCO Petition Number Tariff order Date Particulars Khandwa SiS and 1*125 MVAR Bus Reactor at Dehaarn sis 01-Nov-1O Capital Expenditure admitted Expenditure admitted Apportioned approved Cost/Revised cost estimates, if any (with reference and date of approval) FREEHOLD LAND BUILDING TR LINE SUB STATION PLCC LEASEHOLD LAND Total Notional Loan Notional Equity Total Debt-Equity Ratio Debt Equity Total Cumulative amount of Depreciatior Cumulative Repayment of Loan Initial Spares* ~-

77 \ ~ \ Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Statement of Capital Cost Name of the Transmission Element: Combined Assets :1*125 MVAR Bus Reactor at Khandwa S!S and 1*125 MVAR Bus Reactor at Dehgam S!S Date of Commercial Operation: 01-Nov-2010 Form 4A Rs. in lacs Particulars A. a) Opening Gross Block Amount as per books b) Amount of capital liabilities in A(a) above c) Amount of IDC,FC,FERV and Hedging cost included in A(a) above d) Amount of IEDC (excluding IDC,FC,FERV and Hedging cost) included in A(a) above B. a) Addition in Gross Block Amount during the period b) Amount of capital liabilities in B(a) above c) Amount of IDC,FC,FERV and Hedging cost included in B(a) above d) Amount of IEDC (excluding IDC,FC,FERV and Hedging cost) included in B(a) above C. a) Closing Gross Block Amount as per Books b) Amount of capital liabilities in C(a) above c) Amount of IDC,FC,FERV and Hedging cost included in C(a) above d) Amount of IEDC (excluding IDC,FC,FERV and Hedging cost) included in C(a) above ~~ MI ~~<f (Petitioner)

78 Financial Package upto COD (Block Year ) Name of the Transmission licensee: Power Grid Corporation of India limited Name of the Region: WESTERN REGION Form-6 Name of the Project: WRSS - VII Name of the Transmission Element or Communication Element: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam SIS Date of commercial Operation: 01-Nov-2010 Loans Loans-Domestic Loans-Foreign Total Loans Rs. In lakhs Particulars Financial Package as Financial Package as on As Ad mitted by COD I Approved COD Currency and Amount Currency and Amount Currency and Amount INR Equity Foreign Domestic Notional Total Equity INR Debt Equity Ratio Total Cost INR Debt Equity Total Total Capital cost with Addcap ~ - -=- ~1~~c1' (Petitioner) -77r-

79 Calculation of Return on Equity Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Form 8 Name of the Project: WRSS - VII Name of the Transmission Element or Communication System: Combined Assets :1*125 MVAR Bus Reactor at Khandwa sis and 1*125 MVAR Bus Reactor at Dehgam SIS Date of Commercial operation: 01-Nov-2010 Rs. in Lacs Particulars Revised Opening Equity Notional Equity on Add Cap Total Equity Average Equity Rate of Return on Equity (%) Return on Equity Pro rata Return on Equity Calculation of Grossed up Rate of ROE Rate of ROE Time line Incentive Communication Dis-incentive Effective Rate of ROE MAT Rate Grossed up Rate of ROE "" \ok '1 (Petitioner)

80 Calculation of Weighted Average Rate of Interest on Actual Loans Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element or Communication System: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam SIS Date of Commercial Operation: 01-Nov-2010 Form 9C Rs. in Lacs Particulars Revised ADB Ill-ADDCAP FOR AddCap Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-ADDCAP FOR AddCap Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-ADDCAP FOR AddCap Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-ADDCAP FOR AddCap Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year ~ ~ IfiJ"~~ Ii ~l >1'e.~ -71r * ~ ""

81 Calculation of Weighted Average Rate of Interest on Actual Loans Name of the Transmission licensee: Power Grid Corporation of India limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element or Communication System: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam SIS Date of Commercial Operation: 01-Nov-2010 Form 9C Rs. in Lacs Particulars Revised Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-ADDCAP FOR AddCap Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-DOCO Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-DOCO Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-DOCO go-- n ~ ~* ~ l~ ~l ~ "

82 Calculation of Weighted Average Rate of Interest on Actual Loans Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name ofthe Project: WRSS - VII Name of the Transmission Element or Communication System: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam SIs Date of Commercial Operation: 01-Nov-2010 Form 9C Rs. in Lacs Particulars Revised Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl{s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-DOCO Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan BOND XXXI-DOCO- Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment{s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan BOND XXXIII-ADDCAP FOR AddCap-1 Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment{s) of Loan during the year ~ Net Closing Loan ~~ l"~ ~ t.-=" (f(... E:.\.0 '1

83 Calculation of Weighted Average Rate of Interest on Actual Loans Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element or Communication System: Combined Assets :1*125 MVAR Bus Reactor at Khandwa sis and 1*125 MVAR Bus Reactor at Dehgam S!S Date of Commercial Operation: 01-Nov Form 9C Rs. in Lacs Particulars Revised Average Net Loan Rate of Interest on Loan Interest on Loan BOND XXXIII-DOCO- Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening 144, Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan Summary Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ~ - -~I'~\.I.{\~ (Petitioner)

84 Calculation of Weighted Average Rate of Interest on Loans-Foreign Currency Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Form 9D Name of the Transmission Element or Communication System: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam sis Date of Commercial Operation: 01-Nov-2010 Fe in Lacs Particulars Revised ADB III-Ex.Rate ADDCAP FOR AddCap Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year 0.01, Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-Ex.Rate ADDCAP FOR AddCap-2 Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-Ex.Rate DOCO-1 Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-Ex.Rate DOCO-2 Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Qb.~, Less: Repayment(s) of Loan during the year h d \lf9"lr'"...~ )Q\=-.'~ (!(?I -"";Rl ~,~<t -~3-

85 Calculation of Weighted Average Rate of Interest on Loans-Foreign Currency Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Form 90 Name of the Transmission Element or Communication System: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam SIS Date of Commercial Operation: 01-Nov-2010 Fe in Lacs Particulars Revised Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-Ex.Rate DOCO-3 Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-Ex.Rate DOCO-4 Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-Ex.Rate ADDCAP FOR AddCap-3 Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan /.", ~I"~ ADB III-Ex.Rate ADDCAP FOR AddCap-4 l~vl ~~'\.\ IQ..\ * ~r),~ ~ ~ ~~~-r'< " ~ -

86 Calculation of Weighted Average Rate of Interest on Loans-Foreign Currency Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Form 9D Name of the Transmission Element or Communication System: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam SIS Date of Commercial Operation: 01-Nov-2010 Fe in Lacs Particulars Revised Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan ADB III-Ex.Rate-48.9-ADDCAP FOR AddCap-6 Gross Opening Loan Cumulative Repayments of Loans upto Previous Year Net Loans Opening Add: Drawl(s) during the year Less: Repayment(s) of Loan during the year Net Closing Loan Average Net Loan Rate of Interest on Loan Interest on Loan <, --""'" en ~,...\-, (Petitioner)

87 Form 9E Calculation of Interest on Normative Loan Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element or Communication System: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam SIS Date of Commercial Operation: 01-Nov-2010 Rs. in Lacs ~ '" Particulars Revised Gross Normative Loan Opening Cumulative Repayments of Normative Loans upto Previous Year Net Normative Loans Opening Increate/Decrease due to ACE during the year Less: Repayment(s) of Normative Loan during the year Net Closing Normative Loan Average Net Normative Loan Rate of Interest on Loan Interest on Normative Loan Pro rata Interest on Normative Loan ~ -, - tjt\ ~''''<1'''' I (Petitioner)...~...,,", ~

88 Calculation of Depreciation Rate Name of the Transmission licensee: Power Grid Corporation of India limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Form 10 Name of the Transmission Element or Communication System: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SiS and 1*125 MVAR Bus Reactor at Dehgam SiS Date of Commercial Operation: 01-Nov-2010 Gross Rs. in Lacs block at Gross Add Cap Average the block at 51. No. Particulars during the Gross Dep. Rate Amount beginning the end of year Block of the the year year 1 FREEHOLD LAND BUILDING TR LINE SUB STATION PLCC LEASEHOLD LAND Total Weighted Average Rate of Depreciation 5.28 Lapsed life FREEHOLD LAND BUILDING TR LINE SUB STATION PLCC LEASEHOLD LAND Total Weighted Average Rate of Depreciation 5.28 Lapsed life FREEHOLD LAND BUILDING TR LINE SUB STATION PLCC LEASEHOLD LAND Total Weighted Average Rate of Depreciation 5.28 Lapsed life 7 ~ ~~~ ~ FREEHOLD LAND Or~f~\ ~. ~- * ~/~ft'~"e\'

89 _.:... Form 10 Calculation of Depreciation Rate Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element or Communication System: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam SIS Date of Commercial Operation: 01-Nov-2010 Rs. in Lacs Gross SI. No. Particulars block at Gross Add Cap Average the block at during the Gross beginning the end of year Block of the the year Dep. Rate Amount year 2 3 BUILDING TR LINE SUBSTATION PLCC LEASEHOLD LAND Total Weighted Average Rate of Depreciation 5.28 Lapsed life FREEHOLD LAND BUILDING TR LINE SUB STATION PLCC LEASEHOLD LAND Total Weighted Average Rate of Depreciation 5.28 Lapsed life 9 The Calculation of Total Life of Asset SI. No. Name of the Assets Gross Block ife As per CERC Norm Weighted Life (4)=Col.2 x Col.3 1 FREEHOLD LAND BUILDING TR LINE SUB STATION PLCC LEASEHOLD LAND I Total Total Life of Asset / ~-~ ~s.w~ ~~~~.5~<1"\ (Petitioner) (~y ~~

90 ,. ~.: r ~ ~ 1 Statement of Depreciation Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Form loa Name of the Transmission Element or Communication System: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam SIS Date of Commercial Operation: 01-Nov-2010 Rs. in Lacs Particulars Revised Opening Capital Cost AddCap Cost Closing Capital Cost Average Capital Cost Freehold Land (Av. Cost) Rate of Depreciation Depreciable Value Balance useful life of the asset (at the beginning of year) Elapsed life of the asset (at the beginning of the year) Remaining Depreciable Value Depreciation during the year Depreciation upto previous year Cumulative depreciation (incl. of AAD) ' -~ (Petitioner)

91 Calculation of Interest on Working Capital Name of the Transmission Licensee: Power Grid Corporation of India Limited Name of the Region: WESTERN REGION Name of the Project: WRSS - VII Name of the Transmission Element: Combined Assets :1*125 MVAR Bus Reactor at Khandwa SIS and 1*125 MVAR Bus Reactor at Dehgam sis Date of Commercial Operation: 01-Nov-2010 Form 11 Rs. in Lacs Particulars Revised Op. and Maintenance Maintenance Spares Receivables Total working capital Rate of Interest Interest on working capital Pro rata Interest on working capital ~... - ~,~\"'<:.\~ (Petitioner)

92 INDEX CHECK LIST PART-III Name of the Company Power Grid Corporation of India Ltd. Name of the Project: WRSS VII Transmission Scheme in Western Region (i)lxi25 MYAR Bus Reactor at Khandwa along Name of the Transmission Element: with associated bays (DOCO:OI ) (ii)lxi25 MVAR Bus Reactor at Dehgam along with associated bays (DOCO:O ) Form No. Tariff Filing Formats (Transmission and Communication System) Tick FORM-I Summary Sheet Yes FORM-2 Details oftl,ss & Communication System Yes FORM-3 Normative parameters considered for tariff computation Yes FORM 4 Abstract of admitted parameters for the existing transmission assets/elements under project Yes FORM-4A Statement of capital cost Yes FORM-4B Statement of capital works in progress Not applicable and hence not enclosed FORM-4C.uo.. ", ""."'",, o' "u...'u,.v. ".- "u Not applicable and hence not enclosed FORM-S Element wise Breakup ofproject/assetlelement cost for Transmission System Not applicable and hence not enclosed FORM-SA Breakup of construction/supply/service package Not applicable and hence not enclosed FORM-58 Details of element wise cost of the proiect Not applicable and hence not enclosed FORM-6 Financial package up to COD Yes FORM-7 Statement of additional capitalisation Yes FORM-7A Financing of additional capitalization Yes FORM-7B Statement of Additional capitalization during fag end of the project Not applicable and hence not enclosed FORM-S Calculation of Return on Equity Yes FORM-SA Details of foreign equity Not applicable and hence not enclosed FORM-SB Details of additional RoE Not applicable and hence not enclosed FORM-9 Details of allocation of corporate loans to various transmission elements Not applicable and hence not enclosed FORM-9A Details of project specific loan Not applicable and hence not enclosed FORM-9B Details offoreign loan Not applicable and hence not enclosed FORM-9C Calculation of weighted average rate of interest on actual Loans Yes FORM-9D Loans in Foreign currency Not applicable and hence not enclosed FORM-9E Calculation of Interest on Normative Loan Yes FORM-1O Calculation of depreciation rate Yes FORM-lOA Statement of Depreciation Yes FORM-lOB Statement of Decapitalization Not applicable and hence not enclosed FORM-II Calculation of interest on working capital Yes FORM-12 Details of time over run Not applicable and hence not enclosed FORM-12A!EDC Not applicable and hence not enclosed FORM-l2B Draw down schedule for calculation of IDC & Financing Charges Not applicable and hence not enclosed FORM-13 Breakup of Initial Spares Not applicable and hence not enclosed FORM-14 Other Income as on COD Not applicable and hence not enclosed FORM-IS Actual Cash Expenditure Not applicable and hence not enclosed Other Information/ Documents SI.No. Informa tion/docnment Certificate of incorporation, Certificate for Commencment of Business. Memorandum of 1 Association, & Articles of Association ( For New Station setup by a company making tariff - Not Applicable application for the first time to CERC) 2 Regionwise and Corporate audited Balance Sheet and Profit & Loss Accounts with all the Schedules & annexures for the new Transmission System & for the relevant years. 3 Copies of relevant loan Agreements 4 Copies of the approval of Competent Authority for the Capital Cost and Financial package. 5 Copies of the Equity participation agreements and necessary approval for the foreign equity. 6 Copies of the BPTA/TSA with the beneficiaries, if anv Detailed note giving reasons of time and cost over run, if applicable. List of supporting documents to be submitted: a. Detailed Project report 7 b. CPM analysis c. PERT Chart and Bar Chart d.justification for cost and time Overrun u, "0'. 0"'"... CJ records, cost details, statements, schedules etc. for the transmission system as submitted to the Govt, of India for first two years i.e and at the time of mid-term trueup in and for balance period of tariff period I9 at the time of final true-up in In case of initial tariff filing the latest available Cost Audit Report should be I, 9 Any other relevant information (Please specify) Tick Consolidated Balancesheet of 'POWERGRID & Regional Balance Sheet of WR for FY shall be submitted shortly -Not Applicable -Not Applicable- Equity contribution by GOI (57.9%) and others(42.1 %) -Not Applicable -Not Applicable -Not Applicable -Not Applicable -q/

93 INDEX CHECK LIST PART-Ill Name of the Company Power Grid Corporation ofindia Ltd. Name of the Project: WRSS VII Transmission Scheme in Western Region (i)lxi25 MVAR Bus Reactor at Khandwa along Name of the Transmission Element: with associated bays (DOCO:0I.IO.2010) (ii)lxi25 MY AR Bus Reactor at Dehgam along with associated bays (DOCO:O I0) Form No. Tariff Filina Formats (Transmission and Communication System) Tick FORM-l Summary Sheet Yes FORM-2 Details oftl,ss & Communication System Yes FORM-3 Normative parameters considered for tariff computation Yes FORM-4 Abstract of admitted parameters for the existing transmission assets/elements under oroiect Yes FORM-4A Statement ofcapital cost Yes FORM-4B Statement of capital works in progress Not applicable and hence not enclosed FORM-4C "'.. " Not applicable and hence not enclosed FORM-5 Element wise Breakup of Project!AssetlElement cost for Transmission System Not applicable and hence not enclosed FORM-5A Breakup of construction/supply/service package Not applicable and hence not enclosed FORM-5B Details ofelement wise cost of the project Not applicable and hence not enclosed FORM-6 Financial package up to COD Yes FORM-7 Statement ofadditional capitalisation Yes FORM-7A Financing ofadditional capitalization Yes FORM-7B Statement ofadditional capitalization durinz fag end of the project Not applicable and hence not enclosed FORM-S Calculation of Return on Equity Yes FORM-SA Details offoreign equity Not applicable and hence not enclosed FORM-SB Details ofadditional RoE Not applicable and hence not enclosed FORM-9 Details of allocation of corporate loans to various transmission elements Not applicable and hence not enclosed FORM-9A Details of project specific loan Not applicable and hence not enclosed FORM-9B Details offoreign loan Not applicable and hence not enclosed FORM-9C Calculation ofweighted average rate of interest on actual Loans Yes FORM-9D Loans in Foreign currency Yes FORM-9E Calculation ofinterest on Normative Loan Yes FORM-lO Calculation ofdepreciation rate Yes FORM-lOA Statement ofdepreciation Yes FORM-lOB Statement of Decapitalization Not applicable and hence not enclosed FORM-ll Calculation of interest on working capital Yes FORM-12 Details of time over run Not applicable and hence not enclosed FORM-12A ledc Not applicable and hence not enclosed FORM-12B Draw down schedule for calculation of IDC & Financing Charges Not applicable and hence not enclosed FORM-13 Breakup of Initial Spares Not applicable and hence not enclosed FORM-14 Other Income as on COD Not applicable and hence not enclosed FORM-15 Actual Cash Expenditure Not applicable and hence not enclosed Other Information/ Documents SI. No. Info rmationidocument Certificate of incorporation, Certificate for Commencment of Business, Memorandum 0 1 Association, & Articles of Association ( For New Station setup by a company making tarif application for the first time to CERC) - Not Applicable 2 Regionwise and Corporate audited Balance Sheet and Profit & Loss Accounts with all the Schedules & annexures for the new Transmission System & for the relevant years. 3 Copies of relevant loan Agreements 4 Copies of the approval of Competent Authority for the Capital Cost and Financial package. 5 Copies ofthe Equity participation agreements and necessary approval for the foreign equity. 6 Copies of the BPTAffSA with the beneficiaries if anv Detailed note giving reasons oftime and cost over run, ifapplicable. List of supporting documents to be submitted: a. Detailed Project report 7 b. CPM analysis c. PERT Chart and Bar Chart d.justification for cost and time Overrun ouu,. WPJ u, "'Uo< """"Wo< records, cost details, statements, schedules etc. for the transmission system as submitted to the Govt. ofindia for first two years i.e and at the time ofmid-term trueup in and for balance period oftariff period at the time of final true-up in S In case of initial tariff filing the latest available Cost Audit Report should be 9 Any other relevant information (Please specify) Tick Consolidated Balancesheet of 'POWERGRID & Regional Balance Sheet of WR for FY shall be submitted shortly -Not Applicable -Not Applicable Equity contri bution by GOI (57.9%) and others!42.1 %) -Not Aonlicable -Not Applicable -Not Applicable -NotAppli~ I.fa S GI Ie; ~~ "