PETITION FOR ANNUAL REVENUE REQUIREMENT

Transcription

1 PETITION FOR ANNUAL REVENUE REQUIREMENT And TARIFF PROPOSAL FOR THE FINANCIAL YEAR Submission of Text and Affidavit To Assam Electricity Regulatory Commission By Assam State Electricity Board Bijulee Bhawan, Paltanbazar Guwahati

2 BEFORE THE ASSAM STATE ELECTRICITY REGULATORY COMMISSION, GUWAHATI. Petition No. Case No. (to be filed by the Office) IN THE MATTER OF Filing of Annual Revenue Requirement Proposal for the year AND Petition for Determination of Tariff For the year AND IN THE MATTER OF Assam State Electricity Board Bijulee Bhawan, Paltanbazar, Guwahati Petitioner I, son of Shri aged years residing at do solemnly affirm and say as follows: I am the of Assam State Electricity Board, the petitioner in the above matter and am duly authorized by the said Petitioner to make this affidavit for and on behalf of the ASEB. The Statement made in the Petition based on information received from official records and I believe them to reflect truly and nothing materials has been concealed from the statements so made or documents or supporting data etc. attached. Solemnly affirm at Guwahati on th day of 2005 that the contents of this affidavit are true to my knowledge, no part of it is false or nothing material has been concealed therefore and misleading material included therein. Place: Guwahati Deponent Date By order of the Commission Secretary of the Commission

3 Petition for Approval of ARR and Revision of Tariff for FY TABLE OF CONTENTS T1: Legal and Regulatory Framework T2: Annual Revenue Requirement for FY Plant Wise Power Procurement and Power Purchase Costs for FY APGCL Availability Fixed and Variable Cost NEEPCO Availability Fixed and Variable Cost NEEPCO Hydroelectric Stations NHPC Availability for FY Fixed and Variable Cost - NHPC DLF Availability for FY Fixed and Variable Cost - DLF Power Procurement from Other Sources for FY Power Purchase cost Other Components for FY Cost of Loss in PGCIL Network PGCIL Transmission Charges for FY NERLDC Charges for FY Rebate on Timely Payment for FY Wheeling Charges paid to AEGCL (Transmission Company) for FY Employee Expenses for FY Administrative and General Expenses for FY Carry Forward Losses from FY to FY Additional Power Purchase requirement for Terminal Liabilities for FY Other Income Income from Trading Government of Assam Support for FY T3: Summary Annual Revenue Requirement for The Ensuing Year T4: Proposal for Bulk Supply Tariff Proposed Fuel Adjustment Surcharge and Import Adjustment Surcharge clauses Fuel Adjustment Surcharge (FAS) clause (for ASEB) Import Adjustment Surcharge (IAS) Clause (ASEB) T5: Annual Statement of Accounts for FY Assam State Electricity Board Page 3 of 46

4 Petition for Approval of ARR and Revision of Tariff for FY LIST OF ANNEXURES Annexure I: Government of Assam::Notification Annexure II: ASEB Trading Licence Annexure III: Chairman ASEB s Letter to GOA Annexure IV: Profit and Loss Statement Annexure V: Other Debits Annexure VI: Status of Hon ble Commission s formats Annexure VII: Statement of Accounts FY Assam State Electricity Board Page 4 of 46

5 Petition for Approval of ARR and Revision of Tariff for FY LIST OF TABLES Table 1: Availability - APGCL for FY Table 2: Fixed Charges of APGCL Plant for FY Table 3: Variable Charges of APGCL Plant for FY Table 4: Availability NEEPCO Hydroelectric Power Stations for FY Table 5: Availability NEEPCO Thermal Stations for FY Table 6: Details of Power Purchase NEEPCO Hydel plants for FY Table 7: Details of Power Purchase NEEPCO Thermal plants for FY Table 8: Availability Loktak HE (NHPC) for FY Table 9: Details of Power Purchase Loktak HE (NHPC) for FY Table 10: Availability DLF Thermal Stations for FY Table 11: Details of Power Purchase -DLF stations for FY Table 12: Summary of the cost of energy Table 13: Downloaded data from NERLDC web site for FY Table 14: Detailed computation of estimated revenue and expenditure for FY Table 15: Estimated Cash Flow Streams Table 16 : Schedule of Excess / Deficit energy to be exported / imported for FY Table 17: Proposed Annual Revenue Requirement for the Ensuing Year Table 18: Proposed Differential Bulk Supply Tariffs for the Ensuing Year FY Assam State Electricity Board Page 5 of 46

6 Petition for Approval of ARR and Revision of Tariff for FY Glossary Acronym A&G ABC ABT ADB AEGCL AERC AMR APDRP APERC APGCL APTRANSCO ARR ASEB AT&C BST CAEDCL CAGR CEO CMRI CT/PT DPS DTRs EE FAS FY GEC GoA GoI GPRS GSM HHM HT HVDS IAS IRCA KV KVA KW KWH LAEDCL LT MCAGR MCBS MIS MMSCMD MOU MRI MU NERLDC Full form Administrative and General Aerial Bunched Conductors Availability Based Tariff Asian Development Bank Assam Electricity Generating Corporation Limited Assam Electricity Regulatory Commission Automated Meter Reading Accelerated Power Development and Reforms Program Andhra Pradesh Electricity Regulatory Commission Assam Power Grid Corporation Limited Andhra Pradesh Transmission Company Annual Revenue Requirement Assam State Electricity Board Aggregate Technical and Commercial Bulk Supply Tariff Central Assam Electricity Distribution Company Limited Compounded Annual Growth Rate Chief Executive Officer Common Meter Reading Instrument Current Transformer/Potential Transformer Delayed Payment Surcharge Distribution Transformers Executive Engineer Fuel Adjustment Surcharge Financial Year Guwahati Electrical Circle Government of Assam Government of India General Packet Radio Service Global System for Mobile Communication Hand Held Machines High Tension High Voltage Distribution System Import Adjustment Surcharge Industrial Revenue Collection Area Kilo Volt Kilo Volt Ampere Kilo Watt Kilo Watt Hour Lower Assam Electricity Distribution Company Limited Low Tension Modified Compounded Annual Growth Rate Miniature Circuit Breaker Management Information Systems Measured Million Standard Cubic Meter per day Memorandum of Understanding Meter Reading Instruments Million Unit North East Region Load Despatch Centre Assam State Electricity Board Page 6 of 46

7 Petition for Approval of ARR and Revision of Tariff for FY Acronym NLCPR O/H PGCIL ph PIS PLC PLF PMGY PSTN R&M RE MNP RGGVY Rs RST RTU SBM SC SCCP SDE SEBs SMEC ST T&D T.C. TCS TOU TSP UAEDCL UoM US V YOY Full form Non-Lapsable Central Pool Reserve Over Heads Power Grid Corporation of India Limited Phase Performance Incentive Scheme Power Line Carriers Plant Load Factor Prime Minister Gramudyog Yojana Public Switch Telephone Network Repairs and Maintenance Rural Electrification Minimum Needs Program Rajiv Gandhi Grameen Vidyutikaran Yojana Rupees Retail Supply Tariff Remote Terminal Unit Spot Billing Machine Scheduled Caste Scheduled Caste Component Plan Sub-Divisional Engineer State Electricity Boards Snowy Mountains Engineering Corporation Limited Scheduled Tribe Transmission and Distribution Transportation Cost Tata Consultancy Services Limited Time of Use Tribal Sub-Plan Upper Assam Electricity Distribution Company Limited Unit of Measurement United States Volt Year-on-Year Assam State Electricity Board Page 7 of 46

8 Petition for Approval of ARR and Revision of Tariff for FY BEFORE THE HON BLE ASSAM ELECTRICITY REGULATORY COMMISSION IN THE MATTER OF: FILING NO... CASE NO.. A Petition for the approval of the Annual Revenue Requirement for the period for FY and for the approval of the proposal for Bulk Supply Tariffs for Assam State Electricity Board (ASEB) IN THE MATTER OF: AND Assam State Electricity Board constituted under Section 5 of the Electricity (Supply) Act, 1948 and having its registered office in the State of Assam THE HUMBLE APPLICANT ABOVE NAMED MOST RESPECTFULLY SHEWETH: 1 That the Assam State Electricity Board, hereinafter named as ASEB, is carrying out the function of Bulk Purchaser and Bulk Supplier as mentioned under Schedule F of the Assam Electricity Reforms First Transfer Scheme, 2004 (here in after named as the Transfer Scheme ) notified by Government of Assam on 10 th December That the ASEB is a deemed licensee under the provisions laid down in Section 14 Proviso 5, read with Section 131 (2) of the Electricity Act That the licensee is now filing the petition for the approval of its Annual Revenue Requirement for the financial year and proposal for the Bulk Supply Tariff. 4 Government of Assam vide notification no. PEL,151/2003/Pt/349 dated 16 th August, 2005 (Annexure I) issued orders to give effect to the reorganization of the Assam State Electricity Board and the finalization of the provisional transfers effected as per the provisions of the Electricity Act, 2003 and the Transfer Scheme. (a) The balance sheet as provided in Schedule VI to this order shall be the residual opening sheet of Assam State Electricity Board as on 1 st April 2005 after giving effect to the opening balance sheets of Assam Power Generating Corporation Limited, Assam Electricity Grid Corporation Limited, Upper Assam Electricity Distribution Company Limited, Central Assam Electricity Distribution Company Limited and Lower Assam Electricity Distribution Company Limited as on 1 st April (b) The Government of Assam shall pass separate orders in terms of the Transfer Scheme in regard to the transfer and absorption of personnel of Assam State Electricity Board in the five Companies, namely: Assam Power Generating Corporation Limited, Assam Electricity Grid Corporation Limited, Upper Assam Electricity Distribution Company Limited, Central Assam Electricity Distribution Company Limited and Lower Assam Electricity Distribution Company Limited. (PETITIONER) Assam State Electricity Board Page 8 of 46

9 Petition for Approval of ARR and Revision of Tariff for FY NOTES: In this petition: Previous Year is defined as the Financial Year (FY) Current Year is defined as the Financial Year (FY) Ensuing Year is defined as the Financial Year (FY) Assam State Electricity Board Page 9 of 46

10 Petition for Approval of ARR and Revision of Tariff for FY T1: Legal and Regulatory Framework 1.1 Under the provisions of the Electricity Act, 2003 the Assam Electricity Reforms First Transfer Scheme, 2004 (hereafter Transfer Scheme ) was notified by Government of Assam on 10 th December As per Schedule F of the Transfer Scheme the bulk purchase and bulk supply functions, namely, purchase of electricity in bulk from the generating companies including Assam Power Generating Corporation Limited (APGCL) and supply of electricity in bulk to the Distribution companies (LAEDCL, CAEDCL and UAEDCL) is with the ASEB. 1.2 Govt. of Assam, vide notification no. PEL.133/2003/363 dated 29 th November 2005, has authorized Assam State Electricity Board (ASEB) to continue as a trading licensee for a period up to 9 th June (Annexure II) 1.3 Section 62 of the Electricity Act 2003 requires the licensee to furnish details as may be specified by the Commission for determination of tariff. 1.4 Section 7 of A. E. R. C. (Terms and conditions for determination of Tariff) Regulations 2005 lays down the following: The licensee and generating company may file a tariff petition annually with the Commission to determine changes to the current tariff by not later than 1st December unless an extension is granted by the Commission upon application. In the tariff petition, the licensee and generating company shall submit information for the purpose of calculating expected revenue and expenditure and for furnishing information for tariff determination in formats that will be issued separately by the Commission The tariff petition shall be accompanied by financial and performance information in forms specified by the Commission for the previous year/years, current year and the ensuing year. The information for the previous year should be based on audited accounts and in case audited accounts for previous year are not available, audited accounts for the latest proceeding previous year should also be filed along with unaudited accounts for all the succeeding year. If a person holds more than one licensee and /or is deemed to be licensee for more than one area of distribution or transmission, he shall submit separate petitions in respect of each licensee or area of transmission or distribution. 1.5 The petitioner has now prepared the petition for the approval of its annual revenue requirement for FY and its proposal for Bulk Supply Tariff and submits the same to AERC. T2: Annual Revenue Requirement for FY ASEB is expected to carry out the function of Bulk Purchase and Supply, i.e., purchase of electricity from various generating sources including APGCL and supply of electricity in bulk to the distribution companies. The Bulk Supply Tariff (BST) at which ASEB will supply power to distribution companies will be determined by the Commission, based on the approved Annual Revenue Requirement (ARR) of ASEB. In its function as a Bulk Supplier, ASEB does not propose any trading margin or return, i.e., all revenues from the power traded to other states/utilities/licensees, all set off against the gross revenue requirement for ASEB, and ASEB has not claimed any component of reasonable return as part of its proposed ARR. 2.2 The projected elements of the ARR for the Ensuing Year FY and hence the estimated Bulk Supply Tariff are explained in the following sections. Assam State Electricity Board Page 10 of 46

11 Petition for Approval of ARR and Revision of Tariff for FY Plant Wise Power Procurement and Power Purchase Costs for FY As per the Annual Revenue Requirement of the distribution companies, their total sales work out to be 2,355 MU for FY After accounting for distribution losses (28.50% on a weighted average basis) the total energy required at the Distribution Grid and to be purchased from ASEB by the Distribution companies is 3,293 MU for FY The transmission loss benchmark set for the transmission company is 7.50%. Hence, the energy required to meet the demand of the three distribution companies at an overall loss level of 33.86% in the Assam s T&D system is 3,561 MU. 2.4 It has adopted the following methodology for estimating the power purchase cost: (a) (b) ASEB Trader has estimated monthly availability of power purchase from various sources of power namely, APGCL, NEEPCO, NHPC, DLF and MeSEB. In case there is a surplus / deficit in any month, the excess / shortfall in the energy requirement has been considered to be sold to / purchased from various power traders after following procedures laid down by the Commission. APGCL Availability 2.5 ASEB Trader has adopted the availability figures as made available to it directly by APGCL, which indicate that the company is in a position to supply 952 MU (net of auxiliary consumption) FY Table 1: Energy Availability - APGCL for FY Sl. No. Plant Capacity (MW) Plant Load Factor Gross Generation (MU) Auxiliary Consumption Net Generation (MU) 1 Namrup % % Lakwa % % Total % % 952 Fixed and Variable Cost 2.6 The licensee has calculated the fixed and variable costs in terms of the guidelines of the Hon ble Commission outlined in its Tariff Order for FY The fixed charges for APGCL are estimated to be Rs crores for FY This figure is net of miscellaneous income that is forecast to be earned during the year FY and without considering any return on equity. Return on equity has not been considered keeping in mind the AERC directive issued through its tariff order for FY vide paragraph 6.29 in which it was stated that Because of the poor performance of the ASEB in FY , the Commission is not allowing any return on equity in FY by applying a zero return on equity rate. As APGCL is now a separate company and accountable for its generation and financial viability, the Hon ble Commission is requested to review its stand. APGCL is in the process of implementing various programmes to improve its performance such as: (a) (b) Negotiating additional supply of gas to increase generation at Lakwa Carrying out repair & maintenance works at Namrup. The benefits of the aforesaid programmes and more have already been reflected in higher Assam State Electricity Board Page 11 of 46

12 Petition for Approval of ARR and Revision of Tariff for FY generation figures in respect of Namrup and Lakwa Thermal Power Stations. It is therefore, prayed to the Hon ble Commission that Return on Equity be 14% on the equity capital for FY keeping in view the age and difficult circumstances that the existing power stations of APGCL have to be operated in. The following table shows the detailed break-up of the various components of the APGCL costs for FY : Table 2: Fixed Charges of APGCL Plant for FY Components of Fixed Costs (Rs. crores) Amount Interest Depreciation Interest on Working Capital 2.02 Employees Cost Repairs & Maintenance expenses 8.35 Administrative & General expenses 2.76 Return on Equity Nil Less: Miscellaneous income 1.11 TOTAL Less: Expenses capitalised Net chargeable to revenue The variable cost is calculated for the two plants assuming the currently prevailing parameters, which are given in the following table. The total variable cost for Namrup (NTPS) and Lakwa (LTPS) is computed to be Rs crores. Hence, the total power purchase from APGCL plant by ASEB is Rs crores. Table 3: Variable Charges of APGCL Plant for FY Sl. No. Plant Plant Load Factor Station Heat Rate KCal/kWh) Auxiliary Consumption Calorific Value of Fuel Fuel Cost (KCal/SCM) P/kWh sent out 1 Namrup 47.89% % Lakwa 42.81% % 8674 (wtd. avg.) Total 45.48% % NEEPCO Availability 2.9 The availability of NEEPCO Hydroelectric plants has been estimated based on their design energy. In addition to the allocated shares, Assam is also availing 6% of the design energy as free energy from Kopili and Khandong Hydroelectric power stations. While computing the estimated quantum of energy that is likely to be made available to ASEB system from the hydroelectric power stations of NEEPCO, the following considerations have been taken: Assam State Electricity Board Page 12 of 46

13 Petition for Approval of ARR and Revision of Tariff for FY (a) (b) 12% of the net energy generated by each of the stations will not be available for sale as primary energy. It shall be due to the home state(s) as free allocation where the power station is located The actual energy generated is estimated to vary from the design energy on account of hydrological fluctuations viz. extent and timing of rainfall. This variance from the design energy has been estimated on a monthly basis, based on actual figures observed over the recent past. The plant wise availability and corresponding shares of ASEB are shown in the following table: Table 4: Availability NEEPCO Hydroelectric Power Stations for FY Sl. No. Plant Design Energy (MU) Auxiliary Consumption Saleable Primary Energy - net (MU) ASEB Share ASEB Share (MU) ASEB share adjusted for hydrological fluctuations (MU) 1 Doyong % % Kopili % % Kopili-1 (Free share) 6.00% Khandong % % Khandong (Free Share) 6.00% Ranganadi % % Kopili % % Kopili-2 (Free share) Total % The availability of NEEPCO gas based thermal plants has been estimated based on Plant Load Factor of 85% for both Assam Gas Based Power Plant (Kathalguri) and Agartala Gasbased Thermal Power Plant (Agartala). It will be observed that the projected energy that is likely to be imported from AGBPP and AGTPP varies from that computed by multiplying the plant capacity by the normative Plant Load Factor due to the forecasted incapacity of these power stations to run at full load throughout the year. This assumption is validated by the actual generation pattern observed during the year till date. Table 5: Availability NEEPCO Thermal Stations for FY Sl. No. Plant Capacity (MW) Auxiliary Consumption Plant Load Factor Energy Available (MU) ASEB Share ASEB Share (MU) ASEB Share adjusted for plant availability 1 AGBPP % 85% % AGTPP % 85% % Total % 85% % Fixed and Variable Cost NEEPCO Hydroelectric Stations 2.11 The tariffs for the NEEPCO hydroelectric stations are based on norms and rates determined Assam State Electricity Board Page 13 of 46

14 Petition for Approval of ARR and Revision of Tariff for FY in the CERC Order. Accordingly, the charges for energy imported from NEEPCO s hydroelectric plants have been computed as follows: (a) Fixed costs shall be computed as below: Fixed costs = total fixed cost (100% - 12% being the free energy that will be supplied to the home state(s) free of charge) x ASEB non-free Share (b) (c) Energy charge shall be Nil as long as the actual generation does not exceed the design energy If the energy generated exceeds the design energy, then the energy charge applicable in respect of the excess energy generated shall be equal to 90% of the lowest variable cost of Central sector thermal power generation in the North Eastern region. Table 6: Details of Power Purchase NEEPCO Hydel plants for FY Sl. No. Plant Annual Fixed Charges (Rs crores) Variable Cost (Paise/kWh) Purchase MU Fixed Charge ASEB Share (Rs crores) Variable Charge ASEB Share (Rs crores) Total charge ASEB Share (Rs crores) 1 Doyong Nil Nil Kopili Nil Nil Kopili-1 (Free Share) Nil Nil 58 Nil Nil Nil 4 Khandong Nil Nil Khandong (Free Share) Nil Nil 17 Nil Nil Nil 6 Ranganadi Nil Nil Kopili Nil Nil Kopili-2 (Free share) Nil Nil 5 Nil Nil Nil 9 Total Nil Nil Table 7: Details of Power Purchase NEEPCO Thermal plants for FY Sl. No. Plant Annual Fixed Charges (Rs crores) Variable Cost (Paise/kWh) Purchase (MU) Fixed Charges ASEB Share (Rs crores) Variable Charges ASEB Share (Rs crores) Total Charge ASEB Share (Rs crores) 1 AGBPP AGTPP Total Assam State Electricity Board Page 14 of 46

15 Petition for Approval of ARR and Revision of Tariff for FY NHPC Availability for FY The energy availability from the Loktak HE project has been estimated based on its design energy. Table 8: Availability Loktak HE (NHPC) for FY Sl. No. Plant Design Energy (MU) Auxiliary Consumption Saleable Primary Energy (MU) ASEB Share ASEB Share (MU) ASEB share adjusted for hydrological fluctuations (MU) 1 Loktak HE % % Fixed and Variable Cost - NHPC 2.13 ASEB has estimated the fixed and variable costs as allowed in the CERC order. Table 9: Details of Power Purchase Loktak HE (NHPC) for FY Sl. No. Plant Annual Fixed Charges (Rs crores) Variable Cost (Paise/kWh) Purchase (MU) Fixed Charges ASEB Share (Rs crores) Variable Charges ASEB Share (Rs crores) Total Charge ASEB Share (Rs crores) 1 Loktak HE Nil Nil DLF Availability for FY DLF has a 9 MW combined cycle plant at Adamtilla and the 15.5 MW combined cycle plant at Banskandi Barak Valley. ASEB is committed to purchase the entire generation out of these two plants under power purchase agreement. Table 10: Availability DLF Thermal Stations for FY Sl. No. Plant Capacity (MW) Auxiliary Consumption Plant Load Factor Net Energy Available (MU) ASEB Share ASEB Share (MU) 1 Adamtilla % 55.00% % 42 2 Banskandi % 60.00% % 79 3 Total % 58.16% % 121 Fixed and Variable Cost - DLF 2.15 ASEB has estimated the fixed and variable charges as per the Power Purchase Agreement (PPA) between DLF and ASEB. However, as the projected Plant Load Factors for both Adamtilla and Banskandi are lower than the normative levels, the recovery of Fixed costs have been reduced proportionately viz. Fixed cost recovery = Full fixed cost x Projected PLF Normative PLF Assam State Electricity Board Page 15 of 46

16 Petition for Approval of ARR and Revision of Tariff for FY Table 11: Details of Power Purchase -DLF stations for FY Sl. No. Plant Annual Fixed Charges (Rs crores) Variable Cost (Paise/kWh) Purchase (MU) Fixed Charges ASEB s Share (Rs crores) Variable Charges ASEB Share (Rs crores) Total Charge ASEB Share (Rs crores) 1 Adamtilla Banskandi Total Power Procurement from Other Sources for FY Apart from procurement of energy by ASEB from APGCL, NEEPCO, NHPC and DLF as discussed above, it will purchase a further 229 MU from MeSEB and traders to meet its energy requirement As per the power procurement plan proposed, ASEB proposes to procure 8 MU from MeSEB at a total cost of Rs crores in FY During the months of April, June, September and October to February, the availability of energy is expected to be less than the total demand. The estimated deficit for these months is 221 MU. The cost for buying this energy from traders is estimated to be Rs Rs 3.92 per kwh for import during peak hours Rs 3.45 per kwh during the rest of the day. These rates are in line with the estimated rates (based on offers received) in respect of energy proposed to be imported from various traders by ASEB as well as those quoted by prospective suppliers. ASEB estimates an export of 140 MU during FY The surplus months are expected to be May, July and August in 2006 and March in A summary of the cost of energy that is likely to be purchased by ASEB from the various power supply agencies is furnished in the following table: Assam State Electricity Board Page 16 of 46

17 Petition for Approval of ARR and Revision of Tariff for FY Table 12: Summary of cost of energy purchased ASEB Trader Sl No Source (Allocated Generator/ Injection Points) Units purchased (M.U.) Fixed Charges per annum (Rs Crores) Variable charge Cost of Purchased Power: Fuel escalation charge Variable charge (Paise/kwh) Incentive payment Wheeling charge Any Other Charges Total variable charge Total Cost of Power at each interface point. (Rs Crores) Form-D1/AT1/T1 Average rate (Paise/kwh) Fixed charges Variable charges Total 1 NEEPCO (Doyong) NEEPCO (Kopili-I Paid) NEEPCO (Kopili-I Free) NEEPCO (Kopili-I Paid) NEEPCO (Kopili-I Free) NEEPCO (Khandong-I Paid) NEEPCO (Khandong-I Free) NEEPCO (Ranganadi-I Paid) Assam Gas Based Power Plant Agartala Gas based Thermal Power Plant NHPC (Loktak) DLF (Adamtilla) DLF (Banskandi) Meghalaya State Electricity Board Trading Import (Peak Hours) Trading Import (Non-Peak Hours) Trading Export (Peak Hours) Trading Export (Non-Peak Hours) (36.67) (36.67) TOTAL Assam State Electricity Board Page 17 of 46

18 Petition for Approval of ARR and Revision of Tariff for FY Power Purchase cost Other Components for FY Cost of Loss in PGCIL Network 2.19 From data downloaded from NERLDC website, it is observed that, an estimated transmission loss in Central Transmission Network of NER varies widely from day to day. For example during it varies from 3.67% during few days of October 04 to 6.83% during few days of January 05. Also during current financial year i.e it varies from 3.72% during few days of November 05 to 6.08% during November 05 itself. Since the transmission loss in the Central Transmission Network is a major component considered by the State Regulatory Commission for determination of receipt of energy from the Central Sector Generating Stations to ASEB bus vis-à-vis retail tariff, an average transmission loss of 4% has been assumed in respect of all energy that is likely to be imported through the PGCIL network as compared to the figure of 3.8% permitted by the Hon ble Commission in its Tariff Order for FY However, it is prayed to the Hon ble Commission to allow a loss which is commensurate with the present trends as ASEB should not be penalised for the losses which are beyond its control. In this connection, it needs to be mentioned that the current level of transmission losses reported by PGCIL is significantly higher at around 4.6%. The data sheets as compiled by downloading data from NERLDC web site for the year are furnished in the following table: Table 13: Downloaded data from NERLDC web site for FY Month Days Apr-05 Tr Loss May-05 Tr Loss Jun-05 Tr Loss Jul-05 Tr Loss Aug-05 Tr Loss Sep-05 Tr Loss Oct-05 Tr Loss Nov-05 Tr Loss Month Days Apr-05 Tr Loss May-05 Tr Loss Jun-05 Tr Loss Jul-05 Tr Loss Aug-05 Tr Loss Sep-05 Tr Loss Oct-05 Tr Loss PGCIL Transmission Charges for FY The licensee has to pay a transmission charge to Rs per unit for power purchased from NEEPCO and NHPC stations. The total transmission cost based on the estimated power purchase from these stations works out to be Rs crores. Assam State Electricity Board Page 18 of 46

19 Petition for Approval of ARR and Revision of Tariff for FY NERLDC Charges for FY The NERLDC charges are estimated to be Rs 1.60 crores for the Ensuing Year. Rebate on Timely Payment for FY The licensee is entitled to a rebate of 2% on the timely payment to central generating stations. The rebate for the Ensuing Year is estimated to be Rs crores. Wheeling Charges paid to AEGCL (Transmission Company) for FY As per the Annual Revenue Requirement of AEGCL, the State Transmission Utility, the total ARR for the Ensuing Year is Rs crores. The ARR of transmission licensee is expected to be recovered from the bulk supply tariff at which the ASEB will sell power to Distribution companies. Employee Expenses for FY The First Transfer Scheme envisages the transfer of all employees of the erstwhile ASEB to the new successor companies, except a very few, which would carry out the functions for the ASEB in the transition period. It will be carrying out the function of trading with minimal staff in the transition period. The expenses of these employees of ASEB are projected to be Rs 1.30 crores for the Ensuing Year, in line with the projected figure for the previous year. Administrative and General Expenses for FY In its function as a Bulk supplier and purchaser ASEB will be incurring Administrative and General (A&G) Expenses. The A&G expenses of ASEB are projected to be Rs 0.85 crores for the Ensuing Year. Carry Forward Losses from FY to FY Based on the projected sales, generation and energy import as well as fixed and other operational costs for the year , as well as the tariff that was in force during that year, it is expected that there will be a loss of Rs crores even without considering any return on the equity capital employed. In order that the financial viability of ASEB and its successor companies is not jeopardized, it is proposed to carry forward this loss to FY for recovery through the tariff that is proposed to be made effective for that year. The detailed computation of the estimated revenue shortfall that is likely to be incurred for FY is shown in Table 14: Assam State Electricity Board Page 19 of 46

20 Petition for Approval of ARR and Revision of Tariff for FY Table 14: Detailed computation of estimated revenue and expenditure for FY (Rs crores) Estimated Revenue / Expenditure Item AERC Approved Figures Revised Estimates Revenue from sale of Electricity for Miscellaneous Income Income from trading (UI) Total Income Power Purchase Cost for (Net) Transmission Cost (including PGCIL & NERLDC charges) Depreciation Interest & finance charges Fuel cost Employee costs Repairs & Maintenance Administrative & General expenses Provision for doubtful debts Interest on Security Deposit Special Charge for terminal benefits Development Surcharge FY Loss c/f Less: Rebate on power purchased Less: Government of Assam support Total Expenditure Shortfall for FY Additional Power Purchase requirement for During the winter months, generation from the hydro stations of the north eastern region goes down drastically. In the absence of any base load power station to support the power shortfall, there is no recourse other than to make further purchase of power from the power traders. During the period of November 2005 to March 2006, an acute power shortfall is foreseen and hence commensurate power purchase arrangements have been made to take care of this acute shortfall. The Hon ble Commission had allowed Rs crores for power purchase from power traders vide its Tariff Order for FY As against this, the revised estimated ARR for FY as given in Table 14 above, incorporates a power purchase cost impact of Rs crores for purchase of power from power traders. The Principal Secretary, Power (Elect) M&M Dept, Government of Assam, has been requested vide Chairman ASEB s letter no ASEB. ACT/FIN/6/2005/3 dated 10/12/2005 for cash support for purchase of additional power as forecasted in the above letter. As mentioned in the letter, the MOS(I), Power has assured the State Government s financial support to meet this additional power cost. A copy of the letter together with the details of forecasted power purchase requirement has been attached as Annexure III. Assam State Electricity Board Page 20 of 46

21 Petition for Approval of ARR and Revision of Tariff for FY It is prayed to the Hon ble Commission that in case there is any shortfall in fund support by the Government of Assam to meet the additional power purchase liability, then the same may be allowed to be recovered by the utility through tariff. Terminal Liabilities for FY The Government of Assam vide notification no.pel.190/2004/69 dated 4th February 2005 notified the plan for funding Terminal Benefit of ASEB Employees. The actuarial valuation for current value of liability for ASEB Employees was carried out on 9th December 2004 to determine the following: (a) (b) (c) Quantum of Assets required as on the valuation date, Annual future rate of contribution, as a percentage of payroll, to pay for the gratuity and pension benefits, Total projected cash flow over the next 20 years period 2.29 The net present value of ASEB past unfunded Terminal Benefits as on 9th December 2004 has been estimated as Rs. 2, Crores In addition to this, actuarial studies have estimated that the contribution to be made by new companies for meeting the liabilities arising out of future services rendered by the existing employees after transfer date would need to be 22.79% of the Basic plus DA every month of the existing employees till they retire Actuarial studies have also estimated the cash outflows for Terminal Benefits for past services for FY as Rs Crores In the Tariff Order for FY , the Commission had allowed a total amount of Rs Crores which is now Rs Crores (due to variation in sales volume) as estimated for FY against a proposal of Rs Crores in the ASEB Petition. The balance shortfall amount of Rs Crores is required to be supported by the Government of Assam The estimated cash outflow towards past unfunded liabilities of existing employees, existing pensioners and existing family pensioners will be generated through the streams as shown in the following table: Table 15: Estimated Cash Flow Streams Sl No. Particulars (Rs. Crores) Cash Flows for % on Rs Crores (ASEB pension and CPF) Electricity 5 paise/unit on 2355 MU Special charge on 20 paise/unit on 3294 MU Budgetary support from Government of Assam to meet shortfall during FY Sub-total Budgetary support from Government of Assam to meet shortfall during FY Assam State Electricity Board Page 21 of 46

22 Petition for Approval of ARR and Revision of Tariff for FY From the above table it transpires that the total budgetary support required from the Government of Assam for FY amounts to Rs Crores. In case the Commission allows special charge on BST at less than 20 paise/unit, the deficit will be required to be borne through budgetary support from Government of Assam. In this context the Hon ble Commission is requested to kindly consider the budgetary support to be received from Government of Assam In pursuance of Board Resolution No. 18 dated , Chairman, ASEB has constituted the Board of Trustees of ASEB Employees Pension Fund Investment Trust with 11 Trustees including Chairman ASEB/successor companies as President of the Trust. AEGCL shall act as nodal agency for dealing with all matters relating to pension. Head of Finance, AEGCL shall be the Member and Chief Executive and shall have the authority for all operational activities of the Trust. In a meeting held on with Member (Finance), discussions on the following issues have taken place: 1. Drawal of monthly pension and family pension by the existing pensioners and family pensioners who were drawing their pension from consolidated Board. 2. Procedure for payment of pension and setting up of Pension Cell under Finance wing of each successor company to administer and monitor the benefits of operation at the company s end. 3. Recovery of administrative cost from successor companies. 4. Plan for funding terminal benefits. 5. Creation of GPF trust fund. Actions are being undertaken on the above issues. Other Income Income from Trading 2.36 The monthly availability and the requirement for the state is shown in the table below: Table 16 : Schedule of Excess / Deficit energy to be exported / imported for FY (All figures are in MU) Particulars Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Total Availability ASEB Requirement Excess energy available for export through trading Deficit energy to be imported through trading ASEB estimates that it has an excess of 140 MU for trading during the Ensuing Year FY and a deficit of 221 MU during FY as shown in the table above It is projected the excess power can be sold at a rate of Rs per kwh giving revenues of Rs crores for the Ensuing Year. Assam State Electricity Board Page 22 of 46

23 Petition for Approval of ARR and Revision of Tariff for FY Government of Assam Support for FY No financial support has been assumed to be forthcoming from the Government of Assam. However, it is assumed that in the interests of the socio-economically challenged sections of the society, it will provide the necessary support as and when and to the extent required so that the very existence of ASEB and its successor companies is not endangered In this connection, ASEB would like to make special mention of the issue of terminal benefits. It is expected that the Government of Assam will make good any deficit that may arise due to inadequate provisions for this purpose made through successive tariff revision exercise. The deficit will be computed in terms of the Government of Assam s order No. PEL-190/2004/69 dated 4 February T3: Summary Annual Revenue Requirement for The Ensuing Year 3.1 The following table summaries the itemized break-up of the Annual Revenue Requirement of ASEB proposed to be recovered for the Ensuing Year FY in this petition. Table 17: Proposed Annual Revenue Requirement for the Ensuing Year ARR Element (Rs. crores) Amount Power Purchase Cost from external agencies gross Power purchase from APGCL Employee Expenses 1.30 Administrative and General Expenses 0.85 Interest on Working Capital PGCIL Charges NERLDC Charges 1.60 Wheeling Charges Payable to AEGCL Development Surcharge Carry Forward Losses in respect of FY Special Charge on Bulk Supply Tariff for Terminal Liabilities Total Expenditure Less: Other Income: Income from Trading : Income from Unscheduled Interchange Less: Government of Assam support Nil Less: Rebate on Power Purchase Net Annual Revenue Requirement T4: Proposal for Bulk Supply Tariff 4.1 The licensee proposes to recover its entire annual revenue requirement through charges from the three Distribution companies and proposes its bulk supply tariff on a full-cost recovery principle. Assam State Electricity Board Page 23 of 46

24 Petition for Approval of ARR and Revision of Tariff for FY The licensee proposes to recover its entire net Annual Revenue Requirement for the Ensuing Year FY of Rs crores. The licensee proposes to supply a total of 3561 MU to the three Distribution companies for the Ensuing Year FY based on the individual energy requirement of the Distribution companies as per their petition for approval of Annual Revenue Requirement for FY , at an average Bulk Supply Tariff of Rs per kwh. 4.3 It is envisaged that during the transition period, the retail tariffs across the three Distribution companies would be maintained at a uniform level, i.e., similar category of consumers across the three Distribution companies would pay identical charges. However, there are variations in the cost structures, sales mix and consumer mix of the three Distribution companies. This will lead to different revenue realisation figures and expenditure implications leading to different Annual Revenue Requirements for the three Distribution companies. 4.4 In order to enable the implementation of the above philosophy of uniform retail tariffs for the same category of consumers across the state of Assam, the licensee proposed to charge separate Bulk Supply Tariffs to each Distribution company based on the capacity of the Distribution companies to pay to ASEB for the power purchased, after meeting all revenue expenses (including Reasonable Return which has not been claimed for FY due to reasons explained earlier). Based on this rationale and the Annual Revenue Requirements of the Distribution companies, the licensee proposes the following differential Bulk Supply Tariff rates for the three Distribution companies for the Ensuing Year i.e. FY : Table 18: Proposed Differential Bulk Supply Tariffs for the Ensuing Year FY Distribution company Proposed BST (Paise/ KWh) Lower Assam Electricity Distribution Company Limited 295 Central Assam Electricity Distribution Company Limited 240 Upper Assam Electricity Distribution Company Limited 303 Weighted Average Bulk Supply Tariff 282 Proposed Fuel Adjustment Surcharge and Import Adjustment Surcharge clauses 4.5 Fuel Adjustment Surcharge: ASEB proposes to introduce a Fuel Adjustment Surcharge with a view to protecting itself from intermittent, adverse and unforeseen increase in the cost of fuel delivered to those power stations from whom ASEB purchases energy and whose tariff is either subject to escalation through a Fuel Adjustment Surcharge clause or has a clearly defined fuel cost element embedded in it. As the cost of fuel is wholly outside the control of ASEB, it will only be logical for ASEB to logical for ASEB to be insulated from such cost shocks. The details of the proposed Fuel Adjustment Surcharge clause are furnished in the following paragraphs Fuel Adjustment Surcharge (FAS) clause (for ASEB) Objectives: The cost of fuel incurred in respect of energy generated by a power supply agency is the largest single item of expenditure. At the same time, the power supply agency does not have any control whatsoever on the cost of fuel delivered basic price, sales tax, royalties, cess, transportation etc. to the power station. Moreover, there is no bar on the fuel suppliers as to how frequently or how much the fuel prices may be increased. Assam State Electricity Board Page 24 of 46

25 Petition for Approval of ARR and Revision of Tariff for FY On the other hand, ASEB (and its successor companies) is constrained to make a formal application to Assam Electricity Regulatory Commission for any upward revision of tariff, and that too not more than once a year, to receive their formal approval. Only when this entire process - normally quite lengthy - is gone through, can the power supply agency implement the revised tariff. It is therefore, proposed to introduce FAS in the Schedule of Rates that will facilitate the following: ASEB (and its successor companies) will not need to go through a full-blown tariff revision exercise to neutralise the financial impact of any change in fuel costs (the cost of fuel being deemed to include that of associated taxes, levies, transportation etc. as was defined in the erstwhile Sixth Schedule of The Electricity (Supply) Act, Instead, any adjustment in the FAS rate(s) applicable for the year shall be given effect to, based on (a) estimates for provisional rates and (b) audited financial statements for final rates. FAS will be levied on consumers on a provisional basis and shall be subject to a final adjustment on completion of audit in respect of each financial year. Should the final audited FAS rate be less or more than the provisional FAS rate(s) levied during the year, a corresponding credit or debit adjustment shall be made to the consumers accounts. As there may be a difference between the provisional FAS rate(s) levied in course of a given financial year and the final FAS rate computed in respect of that financial year, the revenue for the year will include a component Fuel Adjustment Surcharge due but not billed and shall be equal to the difference between the audited and the provisionally billed FAS rate(s) multiplied by the aggregate quantum of energy sold by ASEB to the distribution companies during that particular financial year. Salient features of the proposed Fuel Adjustment Surcharge (FAS) clause: 1. FAS shall be made applicable equally in respect of all distribution companies. 2. FAS shall be constructed in a manner that ASEB will not stand to gain or lose due to differences in the actual values of key parameters such as transmission loss, distribution loss, sales mix, and station heat rates, import mix etc. 3. The impact of any increase in fuel prices be it in respect of APGCL generation or in respect of energy imported from external agencies such as NEEPCO, DLF, Power Traders etc. - shall be neutralized by a corresponding increase in the FAS to be levied and collected by ASEB from its own consumers viz. UAEDCL, CAEDCL and LAEDCL. 4. It will be appreciated that the FAS clause being incorporated in the Schedule of Rates implies that the energy imported from external agencies should have a Fuel Cost component explicitly mentioned in the tariff as otherwise, it will not be possible for ASEB (or any of the successor companies) to pass on the impact of increases in fuel prices to its consumers through the FAS clause. 5. The FAS rate that shall be charged by ASEB to the distribution companies shall be computed as per the following formula: Assam State Electricity Board Page 25 of 46

26 Petition for Approval of ARR and Revision of Tariff for FY Sl. No. Source of energy Quantum of energy imported (MkWh) UoM Basic / Actual price of fuel (Rs per UoM) Basic / Actual calorific value of fuel (KCal per UoM) 1 Assam Gas Based Power Plant Q1 BP1 / AP1 BC1 / AC1 (AGBPP) 2 Agartala Gas-based Thermal Q2 BP2 / AP2 BC2 / AC2 Power plant (AGTPP) 3 Adamtilla (DLF) Q3 BP3 / AP3 BC3 / AC3 4 Banskandi (DPF) Q4 BP4 / AP4 BC4 / AC4 5 Power Traders Q5 BP5 / AP5 BC5 / AC5 6 Namrup Thermal Power Station (APGCL) 7 Lakwa Thermal Power Station (APGCL) 8 Lakwa Waste Heat Power Station (APGCL) 9 Chandrapur Thermal Power Station (APGCL) 10 Bongaigaon Thermal Power Station (APGCL) 11 Bongaigaon Thermal Power Station (NTPC) UoM Unit of measurement FAS Rate applicable to the distribution companies = Q6 BP6 / AP6 BC6 / AC6 Q7 BP7 / AP7 BC7 / AC7 Q8 BP8 / AP8 BC8 / AC8 Q9 BP9 / AP9 BC9 / AC9 Q10 BP10/AP10 BC10 / AC10 Q11 BP11 / AP11 BC11 / BC11 Q1 * [(AP1 * BC1 / AC1) BP1] + Q2 * [(AP2 * BC2 / AC2) BP2] + Q3 * [(AP3 * BC3 / AC3) BP3] + Q4 * [(AP4 * BC4 / AC4) BP4] + Q5 * [(AP5 * BC5 / AC5) BP5] + Q6 * [(AP6 * BC6 / AC6) BP6] + Q7 * [(AP7 * BC7 / AC7) BP7] + Q8 * [(AP8 * BC8 / AC8) BP8] + Q9 * [(AP9 * BC9 / AC9) BP9] + Q10 * [(AP10 * BC10 / AC10) BP10] + Q11 * [(AP11 * BC11 / AC11) BP11] Energy input to UAEDCL + Energy input to CAEDCL + Energy input to LAEDCL Notes: 1. Should ASEB or AERC desire that in order to maintain total uniformity of retail tariff, the applicable FAS rate should be the same across the distribution companies, the FAS rate that shall be applicable to all consumers in respect of a particular financial year shall be the aggregate FAS payable by all the distribution companies to ASEB in respect of the energy received from it (ASEB) divided by the aggregate sales to all consumers across all the distribution companies during that financial year. 2. It may be noted that if a uniform FAS rate is made applicable across all the distribution companies, it will result in over-realisation of FAS by certain distribution companies and under-realisation companies by others due to differences in distribution losses. 4.6 Import Adjustment Surcharge: ASEB proposes to introduce an Import Adjustment Surcharge with a view to protecting itself from intermittent, adverse and unforeseen increase in the cost of energy imported (other than the fuel cost of energy imported) from external power supply agencies and/ or stations from whom ASEB purchases energy. As the cost of imported energy is wholly outside the control of ASEB, it will only by logical for ASEB to be insulated from such cost shocks. The details of the proposed Import Adjustment Surcharge clause are furnished in the following paragraphs. Assam State Electricity Board Page 26 of 46

27 Petition for Approval of ARR and Revision of Tariff for FY Import Adjustment Surcharge (IAS) Clause (ASEB) Objectives: In case of Assam, bulk of the energy delivered to the power system comes from external agencies. Apart from being a major cost item over which ASEB has no control, this makes ASEB vulnerable to the risk of large arrears as the tariff of many of these external agencies is finalised by Central Electricity Regulatory Commission. Moreover, there is no bar on how frequently or how much the import prices may be increased by these external agencies. This issue is partly emphasised in case of energy imported through various power traders as it is done through short-term and medium term contracts that are subject to prevalent energy market conditions. On the other hand, ASEB is constrained to make a formal application to Assam Electricity Regulatory Commission for any upward revision of tariff, and that too not more than once a year, to receive their formal approval. Only when this entire process - normally quite lengthy - is gone through, can the power supply agency implement the revised tariff. It is therefore, proposed to introduce an IAS in the Schedule of Rates that will facilitate the following: ASEB will not need to go through a full-blown tariff revision exercise to neutralise the financial impact of any change in import costs (other than fuel costs as that will be taken care of through the Fuel Adjustment Surcharge clause). Instead, any adjustment in the IAS rate(s) applicable for the year shall be given effect to, based on (a) estimates for provisional rates and (b) audited financial statements for final rates. IAS will be levied on consumers on a provisional basis and shall be subject to a final adjustment on completion of audit in respect of each financial year. Should the final audited IAS rate be less or more than the provisional IAS rate(s) levied during the year, a corresponding credit or debit adjustment shall be made to the consumers accounts. As there may be a difference between the provisional IAS rate(s) levied in course of a given financial year and the final IAS rate computed in respect of that financial year, the revenue for the year will include a component Import Adjustment Surcharge due but not billed and shall be equal to the difference between the audited and the provisionally billed IAS rate(s) multiplied by the aggregate quantum of energy sold by ASEB to the distribution companies during that particular financial year. Salient features of the proposed IAS clause: 1. IAS shall be made applicable equally in respect of all distribution companies. 2. IAS shall be constructed in a manner that ASEB will not stand to gain or lose due to differences in the actual values of key parameters such as transmission loss, import mix etc. 3. The impact of any increase in import prices (other than fuel prices) in respect of energy imported from external agencies such as NEEPCO, NHPC, DLF, Power Traders etc. shall be neutralised by a corresponding increase in the IAS to be levied and collected by ASEB on its own consumers viz. UAEDCL, CAEDCL and LAEDCL. 4. IAS shall be computed as per the following formula: Assam State Electricity Board Page 27 of 46

28 Petition for Approval of ARR and Revision of Tariff for FY Sl. No. Source of energy Quantum of energy imported (MKWh) Basic / Actual price of import (Rs per MKWh) 1 Assam Gas Based Power Plant (AGBPP) Q1 BI1 / AI1 2 Agartala Gas-based Thermal Power plant (AGTPP) Q2 BI2 / AI2 3 Adamtilla (DLF) Q3 BI3 / AI3 4 Banskandi (DPF) Q4 BI4 / AI4 5 Power Traders Q5 BI5 / AI5 6 Namrup Thermal Power Station (APGCL) Q6 BI6 / AI6 7 Lakwa Thermal Power Station (APGCL) Q7 BI7 / AI7 8 Lakwa Waste Heat Power Station (APGCL) Q8 BI8 / AI8 9 Chandrapur Thermal Power Station (APGCL) Q9 BI9 / AI9 10 Bongaigaon Thermal Power Station (APGCL) Q10 BI10 / AI10 11 Bongaigaon Thermal Power Station (NTPC) Q11 BI11 / AI11 IAS Rate applicable to the distribution companies = Q1 * (AI1 BI1) + Q2 * (AI2 BI2) + Q3 * (AI3 BI3] + Q4 * (AI4 BI4) + Q5 * (AI5 BI5] + Q6 * (AI6 BI6) +Q7 * (AI7 BI7] + Q8 * (AI8 BI8] + Q9 * (AI9 BI9) + Q10 * [(AI10 BI10] + Q11 * (AI11 BP11] Energy input to UAEDCL + Energy input to CAEDCL + Energy input to LAEDCL T5: Annual Statement of Accounts for FY The Board approved Annual Statement of Accounts for the FY for consolidated ASEB is furnished in Annexure VII. Assam State Electricity Board Page 28 of 46

29 Petition for Approval of ARR and Revision of Tariff for FY Annexure I Assam State Electricity Board Page 29 of 46

30 Petition for Approval of ARR and Revision of Tariff for FY Annexure I contd.. Assam State Electricity Board Page 30 of 46

31 Petition for Approval of ARR and Revision of Tariff for FY Annexure I contd.. Assam State Electricity Board Page 31 of 46

32 Petition for Approval of ARR and Revision of Tariff for FY Annexure I contd.. Assam State Electricity Board Page 32 of 46

33 Petition for Approval of ARR and Revision of Tariff for FY SCHEDULE I Annexure I contd.. ASSAM POWER GENERATION CORPORATION LIMITED OPENING BALANCE SHEET AS ON APRIL 01 st, 2005 Assam State Electricity Board Page 33 of 46

34 Petition for Approval of ARR and Revision of Tariff for FY SCHEDULE II Annexure I contd.. ASSAM ELECTRICITY GRID CORPORATION LIMITED OPENING BALANCE SHEET AS ON APRIL 01 st, 2005 Assam State Electricity Board Page 34 of 46

35 Petition for Approval of ARR and Revision of Tariff for FY SCHEDULE III Annexure I contd.. UPPER ASSAM ELECTRICITY DISTRIBUTION COMPANY LIMITED OPENING BALANCE SHEET AS ON APRIL 01 st, 2005 Assam State Electricity Board Page 35 of 46

36 Petition for Approval of ARR and Revision of Tariff for FY SCHEDULE IV Annexure I contd.. CENTRAL ASSAM ELECTRICITY DISTRIBUTION COMPANY LIMITED OPENING BALANCE SHEET AS ON APRIL 01 st, 2005 Assam State Electricity Board Page 36 of 46

37 Petition for Approval of ARR and Revision of Tariff for FY SCHEDULE V Annexure I contd.. LOWER ASSAM ELECTRICITY DISTRIBUTION COMPANY LIMITED OPENING BALANCE SHEET AS ON APRIL 01 st, 2005 Assam State Electricity Board Page 37 of 46

38 Petition for Approval of ARR and Revision of Tariff for FY SCHEDULE VI Annexure I contd.. ASSAM STATE ELECTRICITY BOARD OPENING BALANCE SHEET AS ON APRIL 01 st, 2005 Assam State Electricity Board Page 38 of 46

39 Petition for Approval of ARR and Revision of Tariff for FY Annexure II: ASEB Trading Licence Assam State Electricity Board Page 39 of 46

40 ASEB s Letter to GOA Petition for Approval of ARR and Revision of Tariff for FY Annexure III: Chairman Assam State Electricity Board Page 40 of 46

41 Petition for Approval of ARR and Revision of Tariff for FY Annexure III contd.. Assam State Electricity Board Page 41 of 46

42 Petition for Approval of ARR and Revision of Tariff for FY Annexure III contd.. Assam State Electricity Board Page 42 of 46