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  • I.S. Jha
  • Arun Goyal
  • P.K. Singh, Members
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  • I.S. Jha
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Smart Summary

Factual and Procedural Background

The Commission, by an order dated 4.6.2022 in Petition No. 381/TT/2020, carried out a truing-up of annual fees and charges for the 2014-2019 period and determined fees and charges for the 2019-2024 tariff period in respect of multiple assets under the scheme titled "Fiber Optic Communication System in lieu of existing Unified Load Dispatch & Communication (ULDC) Microwave links in Northern Region." The order dealt with Asset-I through Asset-IV (various kilometre lengths of fiber optic systems in lieu of microwave) and Asset-V (Fiber Optic Communication System of 847.124 km), applying the Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, 2014 and 2019.

On review, the Commission observed inadvertent errors in the 4.6.2022 order that were arithmetical or clerical in nature and had a consequential impact on the fee and charges allowed for some assets. The Commission proceeded to rectify those errors by revising specific tables and figures in the original order.

Legal Issues Presented

The opinion addresses a procedural matter and does not frame distinct legal issues.

Arguments of the Parties

The opinion does not contain a detailed account of the parties' legal arguments.

Table of Precedents Cited

No precedents were cited in the provided opinion.

Court's Reasoning and Analysis

The Commission's analysis, as reflected in the opinion, proceeded as follows:

  1. Identification of errors:
    • It was observed that the sum total of the capital cost of the State Portion of Asset-IV as on 31.3.2019 in paragraph 35 of the order was incorrectly recorded as Rs. 1019.82 lakh instead of Rs. 1040.39 lakh. This was classified as an arithmetical error.
    • The Additional Capital Expenditure (ACE) for the State Portion of Asset-IV during 2014-2015 and 2015-2016 in paragraph 54 had been inadvertently recorded as Rs. 5.95 lakh and Rs. 15.20 lakh, but the correct figures are Rs. 8.65 lakh and Rs. 33.07 lakh respectively. These were treated as arithmetical errors as well.
    • For Asset-V, the Interest on Working Capital (IWC) and the Operation & Maintenance (O&M) expenses allowed for the Central Portion and State Portion for the 2014-2019 tariff period in paragraph 54 were inadvertently interchanged. This was described as a clerical error which the Commission noted did not affect the Annual Fixed Charges allowed for Asset-V.
  2. Legal basis for rectification:

    The Commission invoked its powers under Regulation 111 read with Regulation 103A of the Central Electricity Regulatory Commission (Conduct of Business) Regulations, 1999 to rectify the inadvertent arithmetical and clerical errors in the earlier order.

  3. Remedial action taken:

    Having classified the mistakes as arithmetical or clerical, and having noted the consequential impact on certain fee and charge calculations (notably for the State Portion of Asset-IV), the Commission issued specific corrections. These corrections comprised revised numeric tables and figures in multiple paragraphs of the original order (paragraphs 35, 41, 42, 53, 54, 57, 59, 63, 64, 75 and 76). Each revision replaced previously published figures with corrected figures for capital cost, additional capital expenditure, monthly capital recovery charges (loan and equity), retained gross capital cost, recoveries, net capital cost, working capital components, interest on working capital, fee & charges (annualized and applicable/pro-rata) and related items for the affected assets and periods.

  4. Assessment of impact:

    The opinion explicitly notes that the identified arithmetical errors had a consequential impact on the Fee and Charges allowed for the State Portion of Asset-IV for both the 2014-2019 and 2019-2024 tariff periods, and accordingly the corrected figures are reflected in the revised tables. Conversely, the clerical interchange in Asset-V did not affect the Annual Fixed Charges for Asset-V.

Holding and Implications

Rectification of inadvertent arithmetical and clerical errors in the order dated 4.6.2022 in Petition No. 381/TT/2020 has been effected.

Consequences and direct effects:

  • The Commission has replaced the originally published figures with corrected figures in multiple tables across the order: specifically revisions to the tables in paragraphs 35, 41, 42, 53, 54, 57, 59, 63, 64, 75 and 76, with detailed corrected numeric entries for Asset-I through Asset-V as indicated in the opinion.
  • These corrections change the recorded sum total capital cost and Additional Capital Expenditure figures for the State Portion of Asset-IV (for instance the total capital cost as on 31.3.2019 for the State Portion of Asset-IV is corrected to Rs. 1040.39 lakh), and lead to adjusted monthly and annual capital recovery charges and Fee & Charges values for the affected years and tariff periods.
  • The clerical interchange between IWC and O&M figures for Asset-V has been noted and corrected; this interchange was stated not to affect Asset-V's Annual Fixed Charges.
  • Except for the corrections enumerated, all other terms contained in the original order dated 4.6.2022 in Petition No. 381/TT/2020 remain unchanged.

Broader implications:

The opinion does not discuss broader legal or policy implications. The corrective action is procedural and remedial in nature, addressing inadvertent errors in the earlier order and producing revised numeric tables; it does not purport to create a new precedent.

Source: Order dated 4.6.2022 in Petition No. 381/TT/2020 (text provided). This summary reproduces and synthesizes only the information expressly contained in the provided opinion.

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    Power Grid Corporation of India Limited

    1. The Commission vide order dated 4.6.2022 in Petition No. 381/TT/2020 trued up the annual fees and charges of 2014-2019 period and determined the fees and charges of 2019-2024 tariff period for Asset-I : 1099.803 km of Fiber Optic Communication System in lieu of existing Microwave, Asset-II : 1628.966 km of Fiber Optic Communication System in lieu of existing Microwave, Asset-III : 493.064 km of Fiber Optic Communication System in lieu of existing Microwave and Asset-IV : 530.621 km of Fiber Optic Communication System in lieu of existing Microwave under “Fiber Optic Communication System in lieu of existing Unified Load Dispatch & Communication (ULDC) Microwave links in Northern Region” Scheme based on actual expenditure for the period from 1.4.2014 to 31.3.2019 and also truedup the tariff of the 2014-2019 tariff period and determined the tariff of the 2019-2024 tariff period in respect of Asset V : Fiber Optic Communication System (847.124 km) in lieu of existing Unified Load Despatch and Communication (ULDC) Microwave Links in Northern Region under the Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, 2014 (hereinafter referred to as “the 2014 Tariff Regulations”) and the Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, 2019 (hereinafter referred to as “the 2019 Tariff Regulations”).

    2. It is observed that following inadvertent errors have crept into the order dated 4.6.2022 in Petition No. 381/TT/2020 (a) the sum total of the capital cost of the State Portion of Asset-IV as on 31.3.2019 in paragraph 35 was wrongly considered as Rs. 1019.82 lakh instead of Rs. 1040.39 lakh and (b) the Additional Capital Expenditure (ACE) in respect of the State Portion of Asset-IV during 2014-2015 and 2015-2016 in paragraph 54 was inadvertently considered as Rs. 5.95 lakh and Rs. 15.20 lakh instead of Rs. 8.65 lakh and Rs. 33.07 lakh respectively. We have found these errors to be arithmetical errors. Further, these errors have consequential impact on the Fee and Charges allowed for the State Portion of Asset-IV for the 2014-2019 and 2019-2024 tariff periods.

    3. It is also observed that the Interest on Working Capital (IWC) and the O&M Expenses allowed for the Central Portion and State Portion of Asset-V for the 2014-2019 tariff period in paragraph 54 have been inadvertently interchanged. It is a clerical error which does not have any impact on the Annual Fixed Charges allowed for Asset-V.

    4. These inadvertent errors are being rectified in exercise of powers in terms of the Regulation 111 read with Regulation 103A of the Central Electricity Regulatory Commission (Conduct of Business) Regulations, 1999.

    5. Accordingly, following corrections are made in order dated 4.6.2022 in Petition No. 381/TT/2020:

    a. Table under paragraph 35 (in respect of Asset IV) are revised as follows:

    (Rs. in lakh)

    Assets Sector Capital cost allowed as on 1.4.2014 Additional Capital Expenditure Total capital cost as on 31.3.2019 2014-2015 2015-2016 Asset-I Central Portion 877.24 -49.43 5.04 832.85 State Portion 2066.35 5.95 15.20 2087.50 Asset-II Central Portion 569.54 -25.28 16.58 560.84 State Portion 2964.68 34.89 71.44 3071.00 Asset-III Central Portion 517.97 -22.78 7.05 502.24 State Portion 1532.39 8.44 28.44 1569.27 Asset-IV Central Portion 445.81 2.32 -103.83 344.30 State Portion 998.67 8.65 33.07 1040.39 Asset-V Central Portion 208.63 94.34* 302.97 State Portion 1660.24 977.66* 2637.90

    *additional capitalization in 2014-2019 period

    b. Tables under paragraph 41 (in respect of Asset IV) are revised as follows:

    (Rs. in lakh)

    Monthly capital recovery charges for loan Particulars 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 Asset-I - Central Portion 6.29 5.89 5.93 5.94 5.94 Asset-I - State Portion 15.05 15.10 15.23 15.23 15.23 Asset-II - Central Portion 4.06 3.87 4.00 4.00 4.00 Asset-II - State Portion 21.51 21.79 22.37 22.37 22.37 Asset-III - Central Portion 3.68 3.51 3.56 3.56 3.56 Asset-III - State Portion 11.11 11.18 11.41 11.41 11.41 Asset-IV - Central Portion 3.18 3.20 2.39 2.39 2.39 Asset-IV-State Portion 7.24 7.31 7.57 7.57 7.57

    (Rs. in lakh)

    Monthly capital recovery charges for equity Particulars 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 Asset-I - Central Portion 3.77 3.54 3.56 3.56 3.56 Asset-I - State Portion 8.91 8.94 9.01 9.01 9.01 Asset-II - Central Portion 2.45 2.34 2.41 2.41 2.41 Asset-II - State Portion 12.76 12.92 13.25 13.25 13.25 Asset-III - Central Portion 2.23 2.12 2.16 2.16 2.16 Asset-III - State Portion 6.61 6.65 6.78 6.78 6.78 Asset-IV - Central Portion 1.92 1.93 1.46 1.46 1.46 Asset-IV-State Portion 4.31 4.35 4.50 4.50 4.50

    c. Table under paragraph 42, in respect of Asset IV, is revised as follows:

    (Rs. in lakh)

    Asset IV Capital Central Portion State Portion Retained Gross Capital Cost as on 1.4.2014 Loan 312.07 699.07 Equity 133.74 299.60 Total 445.81 998.67 Capital Cost Recovered up to 31.3.2019 Loan 57.24 148.58 Equity 16.47 42.79 Total 73.71 191.36 Net Capital Costas on 31.4.2019 Loan 183.78 556.49 Equity 86.82 256.81 Total 270.59 813.30

    d. Table under paragraph 53, in respect of Asset IV, is revised as follows:

    (Rs. in lakh)

    Asset IV Central Portion 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 Maintenance Spares (15% of O&M Expenses) 2.01 2.69 0.92 1.49 0.97 O&M Expenses (1 Month of O&M Expenses) 1.12 1.49 0.51 0.83 0.54 Receivables (2 months of Annual Charges) 12.80 13.66 8.97 9.64 9.04 Total Working Capital 15.92 17.84 10.39 11.95 10.54 Rate of Interest on Working Capital (in %) 13.50 13.50 13.50 13.50 13.50 Total Interest on Working Capital 2.15 2.41 1.40 1.61 1.42 Particulars State Portion Maintenance Spares (15% of O&M Expenses) 0.00 0.00 0.00 0.00 0.00 O&M Expenses (1 Month of O&M Expenses) 0.00 0.00 0.00 0.00 0.00 Receivables (2 months of Annual Charges) 23.63 23.85 24.69 24.70 24.70 Total Working Capital 23.63 23.85 24.69 24.70 24.70 Rate of Interest on Working Capital (in%) 13.50 13.50 13.50 13.50 13.50 Total Interest on Working Capital 3.19 3.22 3.33 3.33 3.33

    e. The table under paragraph 54, in respect of State Portion of Asset IV and in respect of Central Portion and State Portion of Asset V are revised as follows:

    (Rs. in lakh)

    Asset-IV - State Portion - Fees and charges Particulars 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 Opening Gross Capital Cost 998.67 1007.32 1040.39 1040.39 1040.39 Opening Gross Notional Loan 699.07 705.13 728.27 728.27 728.27 Opening Gross Equity 299.60 302.20 312.12 312.12 312.12 Recovered Gross Capital Cost (As on 1st April) 9.18 38.89 72.19 110.50 153.12 Recovered Gross Notional Loan 7.41 31.17 57.46 87.32 120.07 Recovered Gross Equity 1.77 7.72 14.73 23.19 33.05 Opening Net Capital Cost 989.49 968.43 968.20 929.89 887.27 Opening Net Notional Loan 691.66 673.95 670.82 640.96 608.21 Opening Net Equity 297.83 294.47 297.39 288.93 279.07 Recovered Capital Cost (During the Year) 29.71 33.29 38.32 42.61 47.43 Recovered Notional Loan 23.76 26.29 29.86 32.75 35.92 Recovered Equity 5.95 7.01 8.46 9.86 11.51 Closing Net Capital Cost 959.78 935.13 929.89 887.27 839.85 Closing Net Notional Loan 667.90 647.67 640.96 608.21 572.29 Closing Net Equity 291.88 287.46 288.93 279.07 267.56 Additional Capital Cost 8.65 33.07 0.00 0.00 0.00 Additional Notional Loan 6.06 23.15 0.00 0.00 0.00 Additional Equity 2.60 9.92 0.00 0.00 0.00 Years (Capital to be recovered up to 1.10.2028) 14.50 13.50 12.50 11.50 10.50 Months 174.00 162.00 150.00 138.00 126.00 Weighted Average Rate of Interest p.a. 9.2741% 9.2790% 9.2805% 9.2815% 9.2828% Weighted Average Rate of Interest p.m. 0.7728% 0.7733% 0.7734% 0.7735% 0.7736% Monthly Recovery Factors-Loan 0.010471 0.010847 0.011288 0.011814 0.012451 Monthly Capital Recovery Charge - Loan 7.24 7.31 7.57 7.57 7.57 Annual Capital Recovery Charge-Loan 86.91 87.72 90.87 90.87 90.88 Rate of Return on Equity p.a. 15.500% 15.500% 15.500% 15.500% 15.500% Rate of Return on Equity p.m. 1.292% 1.292% 1.292% 1.292% 1.292% Monthly Recovery Factors-Equity 0.014468 0.014763 0.015122 0.015565 0.016115 Monthly Capital Recovery Charge-Equity 4.31 4.35 4.50 4.50 4.50 Annual Capital Recovery Charge-Equity 51.71 52.17 53.97 53.97 53.97 Monthly Capital Recovery Charge - Total 11.55 11.66 12.07 12.07 12.07 Annual Capital Recovery Charge-Total 138.62 139.89 144.83 144.84 144.84 Fee & Charges (2014-19) (Annualized) State Portion - Charges Annual Capital Recovery Charge - Loan 86.91 87.72 90.87 90.87 90.88 Annual Capital Recovery Charge-Equity 51.71 52.17 53.97 53.97 53.97 Annual Capital Recovery Charge-Total 138.62 139.89 144.83 144.84 144.84 O&M Expenses 0.00 0.00 0.00 0.00 0.00 Interest on Working Capital 3.19 3.22 3.33 3.33 3.33 Total Fee & Charges (Annualized) 141.81 143.11 148.17 148.17 148.18 Interest on Working Capital Maintenance Spares (15% of O&M) 0.00 0.00 0.00 0.00 0.00 O&M Expenses (1 Month) 0.00 0.00 0.00 0.00 0.00 Receivables (2 months) 23.63 23.85 24.69 24.70 24.70 Total 23.63 23.85 24.69 24.70 24.70 Rate of Interest on Working Capital 13.50% 13.50% 13.50% 13.50% 13.50% Total Interest on Working Capital (Annualized) 3.19 3.22 3.33 3.33 3.33 Fee & Charges (2014-19) (Applicable) State Portion - Charges Particulars 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 Annual Capital Recovery Charge - Loan 86.91 87.72 90.87 90.87 90.88 Annual Capital Recovery Charge-Equity 51.71 52.17 53.97 53.97 53.97 Annual Capital Recovery Charge-Total 138.62 139.89 144.83 144.84 144.84 O&M Expenses 0.00 0.00 0.00 0.00 0.00 Interest on Working Capital 3.19 3.22 3.33 3.33 3.33 Total Fee & Charges (Applicable) 141.81 143.11 148.17 148.17 148.18

    (Rs. in lakh)

    Asset V - Central Portion 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 Depreciation 14.09 15.32 17.29 19.00 19.12 Interest on Loan 13.40 13.17 13.70 13.81 12.25 Return on Equity 13.09 14.30 16.14 17.74 17.90 Operation and Maintenance 9.61 12.86 4.38 7.10 4.61 Interest on Working Capital 1.47 1.70 1.33 1.56 1.39 Total 51.66 57.34 52.83 59.20 55.27

    (Rs. in lakh)

    Asset V - State Portion 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 Depreciation 112.98 143.06 165.36 165.89 166.65 Interest on Loan 107.79 122.73 128.41 113.73 99.57 Return on Equity 105.00 133.60 154.43 154.92 156.05 Operation and Maintenance 0.00 0.00 0.00 0.00 0.00 Interest on Working Capital 7.50 9.19 10.32 10.00 9.72 Total 333.26 408.59 458.52 444.55 431.99

    f. The table under paragraph 57, in respect of Asset IV, is revised as follows:

    (Rs. in lakh)

    Assets Sector Total Capital Cost as on 31.3.2019 Additional Capitalization during 2019-2024 period Capital Cost as on 31.3.2024. Asset-I Central Portion 832.85 0.00 832.85 State Portion 2087.50 0.00 2087.50 Asset-II Central Portion 560.84 0.00 560.84 State Portion 3071.01 0.00 3071.01 Asset-III Central Portion 502.25 0.00 502.25 State Portion 1569.26 0.00 1569.26 Asset-IV Central Portion 344.30 0.00 344.30 State Portion 1040.39 0.00 1040.39 Asset-V Central Portion 302.97 0.00 302.97 State Portion 2637.90 0.00 2637.90

    g. The table under 59, in respect of Asset-IV, is revised as follows:

    (Rs. in lakh)

    Debt-Equity Ratio (as on 1.4.2019) Funding Asset-I Asset-II Asset-III Asset-IV Central Portion State Portion Central Portion State Portion Central Portion State Portion Central Portion State Portion Loan 583.00 1461.24 392.59 2149.70 351.57 1098.49 241.01 728.27 Equity 249.86 626.25 168.25 921.30 150.67 470.78 103.29 312.12 Total 832.85 2087.49 560.84 3071.00 502.24 1569.27 344.30 1040.39 Debt 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% Equity 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% Total 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

    h. The tables under paragraph 63, in respect of Asset-IV, is revised as follows:

    (Rs. in lakh)

    Monthly capital recovery charges for loan Particulars 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 Asset-I-Central Portion 5.94 5.94 5.94 5.94 5.94 Asset-I-State Portion 15.22 15.22 15.22 15.22 15.22 Asset-II-Central Portion 4.00 4.00 4.00 4.00 4.00 Asset-II - State Portion 22.30 22.30 22.30 22.30 22.30 Asset-III-Central Portion 3.56 3.56 3.56 3.56 3.56 Asset-III-State Portion 11.36 11.36 11.36 11.36 11.36 Asset-IV - Central Portion 2.38 2.38 2.38 2.38 2.38 Asset-IV-State Portion 7.51 7.51 7.51 7.44 7.44

    (Rs. in lakh)

    Monthly capital recovery charges for equity Particulars 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 Asset-I - Central Portion 3.56 3.56 3.56 3.56 3.56 Asset-I - State Portion 9.01 9.01 9.01 9.01 9.01 Asset-II - Central Portion 2.41 2.41 2.41 2.41 2.41 Asset-II - State Portion 13.25 13.25 13.25 13.25 13.25 Asset-III - Central Portion 2.16 2.16 2.16 2.16 2.16 Asset-III - State Portion 6.78 6.78 6.78 6.78 6.78 Asset-IV - Central Portion 1.46 1.46 1.46 1.46 1.46 Asset-IV-State Portion 4.50 4.50 4.50 4.44 4.44

    i. The table under paragraph 64, in respect of Asset-IV, is revised as follows:

    (Rs. in lakh)

    Particulars Capital Central Portion State Portion Asset-I: Capital Cost Recovered during 2019-2024 Loan 215.94 550.20 Equity 93.37 236.03 Total 309.32 786.23 Asset-II: Capital Cost Recovered during 2019-2024 Loan 137.16 754.69 Equity 56.31 309.12 Total 193.46 1063.81 Asset-III: Capital Cost Recovered during 2019-2024 Loan 119.78 378.32 Equity 48.44 152.24 Total 168.22 530.56 Asset-IV: Capital Cost Recovered during 2019-2024 Loan 76.73 243.49 Equity 30.34 95.69 Total 107.07 339.18

    j. The table under paragraph 75, in respect of State Portion of Asset-IV, is revised as follows:

    (Rs. in lakh)

    Asset-IV State Portion Particulars 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 Working Capital for O&M Expenses (O&M expenses for One month) 0.00 0.00 0.00 0.00 0.00 Working Capital for Maintenance Spares (15% of O&M expenses) 0.00 0.00 0.00 0.00 0.00 Working Capital for Receivables (Equivalent to 45 days of annual fixed cost/annual transmission charges) 17.98 18.01 17.99 17.81 17.81 Total Working Capital 17.98 18.01 17.99 17.81 17.81 Rate of Interest on Working Capital (in%) 12.05% 11.25% 10.50% 10.60% 10.60% Interest on working capital 2.17 2.03 1.89 1.89 1.89

    k. The table under paragraph 76, in respect of Asset IV - State Portion for 2019-2024 tariff period is revised as follows:

    (Rs. in lakh)

    Asset-IV-State Portion-Fees and charges Particulars 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 Opening Gross Capital Cost 1040.39 1040.39 1040.39 1040.39 1040.39 Opening Gross Notional Loan 728.27 728.27 728.27 728.27 728.27 Opening Gross Equity 312.12 312.12 312.12 312.12 312.12 Recovered Gross Capital Cost (As on 1st April) 200.54 253.78 313.02 385.79 458.56 Recovered Gross Notional Loan 155.99 195.80 239.39 291.12 342.85 Recovered Gross Equity 44.56 57.98 73.63 94.67 115.70 Opening Net Capital Cost 839.85 786.61 727.37 654.60 581.83 Opening Net Notional Loan 572.29 532.47 488.89 437.15 385.42 Opening Net Equity 267.56 254.14 238.48 217.45 196.41 Recovered Capital Cost (During the Year) 53.24 59.24 72.77 72.77 81.16 Recovered Notional Loan 39.82 43.58 51.73 51.73 56.62 Recovered Equity 13.42 15.66 21.04 21.04 24.54 Closing Net Capital Cost 786.61 727.37 654.60 581.83 500.67 Closing Net Notional Loan 532.47 488.89 437.15 385.42 328.80 Closing Net Equity 254.14 238.48 217.45 196.41 171.87 Additional Capital Cost 0.00 0.00 0.00 0.00 0.00 Additional Notional Loan 0.00 0.00 0.00 0.00 0.00 Additional Equity 0.00 0.00 0.00 0.00 0.00 Years (Capital to be recovered up to 1.10.2018) 9.50 8.50 7.50 6.50 5.50 Months 114.00 102.00 90.00 78.00 66.00 Weighted Average Rate of Interest p.a. 9.067% 9.067% 9.067% 9.067% 9.067% Weighted Average Rate of Interest p.m. 0.756% 0.756% 0.756% 0.756% 0.756% Monthly Recovery Factors-Loan 0.013117 0.014097 0.015354 0.017014 0.019298 Monthly Capital Recovery Charge - Loan 7.51 7.51 7.51 7.44 7.44 Annual Capital Recovery Charge - Loan 90.08 90.08 90.08 89.25 89.25 Rate of Return on Equity p.a. 15.500% 15.500% 15.500% 15.500% 15.500% Rate of Return on Equity p.m. 1.292% 1.292% 1.292% 1.292% 1.292% Monthly Recovery Factors-Equity 0.016808 0.017696 0.018858 0.020421 0.022609 Monthly Capital Recovery Charge - Equity 4.50 4.50 4.50 4.44 4.44 Annual Capital Recovery Charge - Equity 53.97 53.97 53.97 53.29 53.29 Monthly Capital Recovery Charge - Total 12.00 12.00 12.00 11.88 11.88 Annual Capital Recovery Charge - Total 144.04 144.04 144.04 142.54 142.54 Fee & Charges (2019-24) (Pro-rata) State Portion - Charges Annual Capital Recovery Charge - Loan 90.08 90.08 90.08 89.25 89.25 Annual Capital Recovery Charge-Equity 53.97 53.97 53.97 53.29 53.29 Annual Capital Recovery Charge-Total 144.04 144.04 144.04 142.54 142.54 O&M Expenses 0.00 0.00 0.00 0.00 0.00 Interest on Working Capital 2.17 2.03 1.89 1.89 1.89 Total Fee & Charges (Pro-rata) 146.21 146.07 145.93 144.43 144.43 Interest on Working Capital Maintenance Spares (15% of O&M) 0.00 0.00 0.00 0.00 0.00 O&M Expenses (1 Month) 0.00 0.00 0.00 0.00 0.00 Receivables (2 months) 17.98 18.01 17.99 17.81 17.81 Total 17.98 18.01 17.99 17.81 17.81 Rate of Interest on Working Capital 12.05% 11.25% 10.50% 10.60% 10.60% Total Interest on Working Capital (Pro-rata) 2.17 2.03 1.89 1.89 1.89 Fee & Charges (2019-24) (Applicable) State Portion - Charges Particulars 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 Annual Capital Recovery Charge - Loan 90.08 90.08 90.08 89.25 89.25 Annual Capital Recovery Charge-Equity 53.97 53.97 53.97 53.29 53.29 Annual Capital Recovery Charge-Total 144.04 144.04 144.04 142.54 142.54 O&M Expenses 0.00 0.00 0.00 0.00 0.00 Interest on Working Capital 2.17 2.03 1.89 1.89 1.89 Total Fee & Charges (Applicable) 146.21 146.07 145.93 144.43 144.43

    6. Except for the above, all other terms contained in the order dated 4.6.2022 in Petition No. 381/TT/2020 remains unchanged.

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    Comments

    Power Grid Corporation of India Limited
    (Mar 22, 2023)