ARAVALLI POWER COMPANY PRIVATE LTD. Vs. HARYANA POWER PURCHASE CENTRE, NORTH DELHI POWER LTD., BSES-RAJDHANI POWER LTD. AND BSES-YAMUNA POWER LTD.

JUDGEMENT

(1.) THE petitioner, Aravali Power Company Private Limited (APCPL) is a company incorporated under companies Act 1956. It is a joint venture company with a shareholding of 50% by NTPC, 25% by Haryana Power Generation Company Ltd. and 25% by Indraprastha Power Generation Co. Ltd. The petitioner filed the instant petition for approval of tariff of Indira Gandhi STPP (3x500 MW) for the period from 1.10.2010 to 30.3.2011 for Unit -I and from 31.3.2011 to 31.8.2011 for Unit -I & II (combined) and from 1.9.2011 to 31.3.2014 for Units -I, II & III combined, in accordance with the Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, 2009 (hereinafter referred to as "the 2009 Tariff Regulations").

(2.) THE investment approval of the project was accorded by the Board of the petitioner company on 5.7.2007 at a project cost of Rs. 7892.428 crore. The Commission vide its order dated 2.11.2011 has allowed the annual fixed charges of Rs. 75790.05 lakh for Unit -I of the generating station from the actual date of commercial operation (COD) i.e. 5.3.2011 till the COD of Unit -II based on the anticipated capital cost of Rs. 372852.00 lakh as claimed by the petitioner, subject to truing -up. In the order, the petitioner was directed to amend the petition taking into consideration the anticipated COD of Unit -II of the generating station in terms of the provisions of the 2009 Tariff Regulations. In compliance with the above directions, the petitioner vide its affidavit dated 16.2.2012 filed amended petition revising the tariff based on the actual audited capital expenditure as on COD of Unit -1 and the projected additional capital expenditure from the COD of Unit -1 to anticipated COD of Unit -II on 1.3.2012 along with the projected additional capital expenditure from COD of Unit -II to anticipated COD of Unit -III (and generating station) on 1.9.2012. The petitioner in the amended petition revised the capital cost as on actual COD of Unit -I and the projected capital cost as on anticipated COD of Unit -II & Unit -III as under:

(3.) WHILE so, the petitioner vide its letter dated 22.2.2013 has submitted that Unit -III of the generating station commissioned on 7.11.2012 was expected to be declared under commercial and prayed for grant of provisional tariff for the generating station from the anticipated COD of the Unit -III, based on the projected capital expenditure up to COD of Unit -III. Subsequently, the petitioner by its letter dated 18.4.2013 has informed that since the declaration of commercial operation of the Unit -III was scheduled in a few days, the Commission may grant provisional tariff of the generating station based on the projected capital expenditure claimed as per amended petition filed vide affidavit dated 16.2.2012. Thereafter, the petitioner informed that Unit -III of the generating station has been declared under commercial operation on 26.4.2013.