Multi Year Tariff Petition of FY 2016-17 to FY 2018-19 and ... · Multi Year Tariff Petition of FY...

MSPCL ARR & Tariff Petition for FY15-16

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Multi Year Tariff Petition of FY 2016-17 to FY 2018-19

and Annual Performance Review of FY 2015-16

and Tariff Petition For FY 2016-17

of Manipur State Power Company Limited

Main Text & Formats

Submitted to:

Joint Electricity Regulatory Commission

for Manipur and Mizoram

By:

Manipur State Power Company Limited

(Imphal) November 15

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BEFORE THE HONOURABLE JOINT ELECTRICITY REGULATORY COMMISSION FOR MANIPUR AND MIZORAM

FILING NO __________

CASE NO __________

IN THE MATTER

OF:

Petition for Approval of filing Multi Year Tariff

Petition of FY 2016-17 to FY 2018-19 and Annual

Performance Review of FY 2015-16 and Tariff Petition

For FY 2016-17 of Manipur State Power Company

Limited under Sections 61, 62 and 64 of The

Electricity Act 2003

AND

IN THE MATTER

OF:

THE PETITIONER

Manipur State Power Company Limited

Keisampat, Imphal

.................PETITIONER

PETITIONER, UNDER SECTIONS 61, 62 AND 64 OF THE ELECTRICITY ACT 2003

FILES FOR INITIATIONS OF PROCEEDINGS BY THE HONORABLE COMMISSION

FOR DECIDING ON THE MATTERS CONCERNING THE APPROVAL OF FILING

OF MULTI YEAR TARIFF PETITION OF FY 2016-17 TO FY 2018-19 AND ANNUAL

PERFORMANCE REVIEW OF FY 2015-16 AND TARIFF PETITION FOR FY 2016-17

OF MANIPUR STATE POWER COMPANY LIMITED(herein after referred to as

“MSPCL”)

THE MANIPUR STATE POWER COMPANY LIMITEDRESPECTFULLY SUBMITS:

1. The petitioner, Manipur State Power Company Limitedis the transmission

licensee in the state of Manipur which has been formed after the restructuring

of the erstwhile Electricity Department of Manipur.With effect from 1st

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February'2014, the Electricity Deparment of Manipur has been restructured

into two companies, the Manipur State Power Company Limited (MSPCL)

responsible for distribution and the Manipur State Power Corporation Limited

(MSPCL) responsible for transmission function.

2. As per Terms and Conditions of JERC MYT regulations' 2014, the ARR and

tariff of transmission and distribution are to be determined separately. In the

last order issued for FY 2015-16, JERC has also issued a directive for filing a

separate petition for determination of transmission charges and distribution&

retail supply business. Now, since the department has been restructured and

the segregated data for transmission and distribution is available, two separate

petitions are being filed for determination of transmission charges and

determination of distribution and retail supply tariff. The present petition is for

Multi Year Tariff Petition of FY 2016-17 to FY 2018-19 and Annual Performance

Review of FY 2015-16 and Tariff Petition for FY 2016-17.

3. Pursuant to the enactment of the Electricity Act, 2003 MSPCL is required to

submit its Annual Revenue Requirement (ARR) and Tariff Petition as per

procedures outlined in Sections 61, 62 and 64 of the Electricity Act, 2003 and

the governing regulations thereof.

4. MSPCL has submitted its ARR and Tariff Petition for determination of Multi

Year Tariff Petition of FY 2016-17 to FY 2018-19 and Annual Performance

Review of FY 2015-16 and Tariff Petition for FY 2016-17 on the basis of the

principles outlined in JERC notified by the Joint Electricity Regulatory

Commission.

5. MSPCL prays to the Honourable Commission to admit the enclosed petition

for Multi Year Tariff of FY 2016-17 to FY 2018-19 and Annual Performance

Review of FY 2015-16 and Tariff Petition for FY 2016-17.

ManipurState Power Company Limited

Petitioner

Place: Imphal

Dated:___November, 2015

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TABLE OF CONTENTS

CHAPTER 1: INTRODUCTION ........................................................................................... 9

1 HISTORICAL BACKGROUND ............................................................................................ 9 2 BACKGROUND OF REGULATORY SETUP ....................................................................... 10 3 CONTENTS OF THIS PETITION ....................................................................................... 12

CHAPTER 2: OVERALL APPROACH FOR PRESENT FILING ................................... 13

1 ANNUAL REVENUE REQUIREMENT AND MULTI YEAR TARIFF PETITION FOR FY

2016-17, FY 2017-18, FY 2018-19 ......................................................................................... 13 2 APPROACH FOR FILING ................................................................................................. 13

CHAPTER 3: ANNUAL PERFORMANCE REVIEW OF FY 2015-16 ............................ 14

1 BACKGROUND ............................................................................................................. 14

CHAPTER 4: AGGREGATE REVENUE REQUIREMENT FOR FY 2016-17 TO FY 2018-19 AND TRANSMISSION CHARGES FOR FY 2016-17 ....................................... 27

CONTRACTED CAPACITY IN MANIPUR ................................................................................ 28

1. OPERATION & MAINTENANCE COSTS ............................................................... 32

A. EMPLOYEE EXPENSE ...................................................................................................... 33 B. REPAIRS & MAINTENANCE EXPENSE ........................................................................... 36 C. ADMINISTRATION & GENERAL EXPENSE ..................................................................... 37

2. CAPITAL EXPENDITURE PLAN ............................................................................... 38

GROSS FIXED ASSETS (GFA) ............................................................................................ 59

3. DEPRECIATION ............................................................................................................ 59

4. INTEREST & FINANCE COSTS ................................................................................. 62

A. INTEREST ON WORKING CAPITAL BORROWINGS ........................................................ 62

5. RETURN ON EQUITY .................................................................................................. 63

6. NON-TARIFF & OTHER INCOME ............................................................................ 63

7. AGGREGATE REVENUE REQUIREMENT ............................................................. 64

8. NORMS OF OPERATION ........................................................................................... 65

9. RECOVERY OF TRANSMISSION ARR AND TRANSMISSION TARIFF PROPOSAL FOR FY 2016-17 ................................................................................................ 66

CHAPTER 4: COMPLIANCE ON DIRECTIVES ............................................................. 67

PRAYER.................................................................................................................................... 70

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LIST OF TABLES

TABLE 1: ENERGY ALLOCATION FROM CENTRAL GENERATING STATIONS .......................... 29 TABLE 4: EMPLOYEE COST (RS. LAKHS) ................................................................................ 35 TABLE 5: REPAIRS & MAINTENANCE EXPENSE ....................................................................... 36 TABLE 6: ADMINISTRATIVE & GENERAL EXPENSES ................................................................ 37 TABLE 7: NET O&M EXPENSES ................................................................................................. 38 TABLE 8 CAPITAL INVESTMENT PLAN ..................................................................................... 43 TABLE 10: CAPITAL EXPENDITURE & PROPOSED CAPITALIZATION ...................................... 59 TABLE 11: GROSS FIXED ASSETS (RS. CRORES) ........................................................................ 59 TABLE 12: DEPRECIATION (RS. CRORES) .................................................................................. 61 TABLE 13 INTEREST ON WORKING CAPITAL (RS. LAKHS) ...................................................... 63 TABLE 14: NON-TARIFF INCOME .............................................................................................. 64 TABLE 15: AGGREGATE REVENUE REQUIREMENT .................................................................. 64 TABLE 16 TRANSMISSION TARIFF ............................................................................................. 66

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Notes: In this Petition: Previous Year is defined as Financial Year 2014-15 (referred to as FY-’15 or FY 14-15) Current Year is defined as Financial Year 2015-16 (referred to as FY-’16 or FY 15-16) Ensuing Year is defined as Financial Year 2016-17 (referred to as FY-’17 or FY 16-17) Multi Year or MYT or MYT period is defined as Financial Year 2016-17 to Financial Year 2018-19 (referred to as FY-’17 to FY-’19 or FY 16-17 to FY 18-19) All currency figures and energy units used in this Petition, unless specifically stated otherwise, are in Rs. Crore (Crs) and Million Units (MUs) This petition contains the Main Text of the Petition and Format (Volume I) and Annexure (Volume II).

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Chapter 1: Introduction

1 Historical Background The commissioning of the two micro hydel sets having capacities of 100 KW and 56

KW at Leimakhong in 1930 by the then Manipur State HE Board marked the

beginning of the use of electricity in Manipur. The Royal palace and main areas of

Imphal Town enjoyed Electricity generated from this captive hydel station. During

the World War-II, two more DG sets of 62 KW and 46 KW capacities were installed

at the old Imphal Power House by the Armed Forces for electrification of Imphal

town and its suburbs. The above installed capacity remained the same till the end

of the first Five Year plan (1951-56) of the post independence period. The second

Five Year Plan (1956-61) however saw a significant change in the demand of power

in the state. The demand has been growing rapidly envisaging more social

acceptance and the gradual promotion of awareness of the people towards the use

of electricity for different purposes. This had necessitated further addition in the

generation capacity and it was accomplished with the installation of a few more

DG sets of various capacities in and around Imphal.

To evacuate the power generated from the captive micro hydel power station (100

+ 56) KW at Leimakhong to specific load centres of Palace Compound and main

bazar area of Imphal, the 20 Km. long, 11 KV line between Imphal&Leimakhong

was constructed for the first time in Manipur in 1930. The state was then having 26

Kms. of 11 KV lines and 45 Kms. of domestic lines to serve very few consumers in

7 villages/Leikais. Both the line and generating stations were owned by the then

Manipur State HE Board, constituted under the ex-officio Chairmanship of the

Political Agent. Subsequently Electricity was kept under the administrative control

of the Public Works Department, Government of Manipur. It was separated from

state PWD and started functioning as an independent Department since February

1970.

The peak load demand of Manipur in 1971 was 3.6 MW only. The demand was met

from the State’s own generating stations and power purchased from the

neighboring states/Electricity Board at the low voltage. The per capita

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consumption of energy was 4.84 KWh. The demand was kept suppressed due to

lack of generation till the year 1980. The scenario was abruptly changed after the

purchase of bulk power from Assam with the commissioning of 132 KV inter-state

transmission line from Imphal to Dimapur and 6.3 MVA, 132/33 KV sub-station at

Yurembam in December 1981. The situation was further alleviated with the

commissioning of Loktak Hydro Electric Project having a capacity of 3x35 MW on

4th of August 1984.

During the years from 1984 to 1996, a number of Central Sector Power Projects,

mostly hydel projects in the North Eastern Region were commissioned. Every

project has a share of about 7-8% for Manipur. Because of the availability from

such projects, the peak demand of the state has increased gradually and in the

previous financial year, it has increased to more than 200 MW.

After the enactment of Electricity Act 2003, various reforms have been initiated in

the power sector including restructuring of integrated state electricity boards into

separate companies. The Electricity Department of Manipur had also initiated the

process of reforms and restructuring and had engaged M/s SBI Caps to advise the

Department on process of corporatization and restructuring of the Electricity

Department. In FY 2013-14, with effect from 1st Feb'2014, Electricity Department of

Manipur (EDM) has been restructured and separated into two different entities 1)

Manipur State Power Distribution Corporation Limited (MSPCL) and 2) Manipur

State Power Corporation Limited (MSPCL). Accordingly, the tariff filing for

Wheeling and Retail Supply Business will be done by MSPDCL and that of

Transmission will be done by MSPCL and submitted to JERC.

MSPCL would like to submit that the present petition is limited to determination

of Multi Year Tariff Petition of FY 2016-17 to FY 2018-19 and Annual Performance

Review of FY 2015-16 and Tariff Petition for FY 2016-17. MSPCL is filing it’s first

MYT petition as per the newly issued JERC MYT regulations' 2014.

2 Background of Regulatory Setup The State Governments of Manipur and Mizoram, in an aspiration to create an

independent Electricity Regulatory Commission to regulate the affairs of power

sector, authorized Government of India to constitute a Joint Commission as per

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Memorandum of Agreement dated 23rd July, 2004 among the Government of

India and the States of Manipur and Mizoram. Accordingly, under provisions of

Section 83(5) the Electricity Act, 2003, a quasi-judicial independent body as the

Joint Electricity Regulatory Commission for the States of Manipur & Mizoram

(JERC) was constituted by the Central Government vide Govt. of India F. No.

23/3/2002-R&R dt. 18thJanuary, 2005 notified in the Gazette of India,

Extraordinary dated 18th January, 2005. The functioning of the Commission

started on January 2008. The Joint Electricity Regulatory Commission issued its

first Tariff Order for FY 10-11 for the state of Manipur on 15th March, 2011. The

second tariff order was issued by JERC for FY 2012-13 on 14th August'2012.

EDM had filed the tariff petition for FY 2013-14 to JERC in April'2013 but the same

was not admitted by the petition because of the delay in filing of the petition and

since the order had to be issued before the start of the year. The petition for FY

2013-14 was kept by JERC for reference and record purpose. The Petition for FY

2014-15 was filed by EDM before November 2013 and the order has been issued

for the same in February'2014.The Petition for FY 2015-16 was filed by MSPCL

before November 2014 and the order has been issued for the same in February'

2015.

As such, MSPCL is filing the present petition for ARR and Tariff Petition for

determination of Multi Year Tariff Petition of FY 2016-17 to FY 2018-19 and

Annual Performance Review of FY 2015-16 and Tariff Petition for FY 2016-17 by

the required timeline of 30th November' 2015 to enable the issue of the tariff order

before the start of FY 2016-17.

MSPCL is discharging its duties in the matters of;

• Wheeling of electricity and transmission of power within the state for

further use by the distribution licensee;

• Preparing and carrying out schemes for transmission upto 33 kV

Chapter 2 (clause 4) of the Joint Electricity Regulatory Commission (Terms and

Conditions for Determination of Tariff) Regulations, 2010 requires the licensees to

submit the details of expected Aggregate Revenue Requirement for the ensuing

financial year before 30th November every year. To fulfill this statutory

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requirement, the MSPCL is submitting this Application for approval of the

aggregate revenue requirement for the ensuing Financial Year 2016-17.

MSPCL being a utility undertaking transmissionfunction, the cost and expenses of

transmissionfunctions are being compiled together and it has been decided to file

tariff petition for the same.

In view of above MSPCLhereby submits its Petition for ARR and Tariff Petition

for determination of Multi Year Tariff Petition of FY 2016-17 to FY 2018-19 and

Annual Performance Review of FY 2015-16 and Tariff Petition for FY 2016-17.

3 Contents of this Petition

This Petition covers the actuals for FY 2014-15, revised estimates for FY 2015-16

and the basis, assumptions and projections of individual elements constituting the

determination of ARR for FY 2016-17, FY 2017-18. FY 2018-19. The Joint Electricity

Regulatory Commission for the states of Manipur and Mizoram had issued the

first Tariff Order for Electricity Department-Manipur on 15th March, 2011 for FY

2010-11. Further the Second Tariff Order for Electricity Department-Manipur was

issued on 14th August, 2012 for FY 2012-13. The third order was issued by JERC

for FY 2014-15 on 28th February' 2014. The last and fourth order was issued by

JERC for FY 2015-16 on 28th February' 2015seperately for MSPCL and MSPDCL.

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Chapter 2: Overall Approach for Present Filing

1 Annual Revenue Requirement and Multi Year Tariff Petition for FY 2016-17, FY 2017-18, FY 2018-19

MSPCL is filing the petition for the determination of Annual Revenue Requirement

Petition for the years FY 2016-17, FY 2017-18 and FY 2018-19 based on the past

performance and expected changes in each element of cost and revenue for the

ensuing years. MSPCL has studied the previous trends and taken cognizance of other

internal and external developments to estimate the likely performance for FY 2016-17,

FY 2017-18 and FY 2018-19.

2 Approach for Filing

The present filing for the Annual Revenue Requirement for the FY 2016-17, FY 2017-18

and FY 2018-19 is based on the principles enumerated by the Joint Electricity

Regulatory Commission’s (JERC) in the Terms and Conditions for (Multi Year Tariff)

Regulations, 2014 notified on 9th June, 2014 as well as the present CERC regulations

for the control period FY 2014-19, wherever applicable. The subsequent sections

provide projection for various expenses, the proposed investment plan for multiyear

and the expected revenue requirements for FY 2016-17, FY 2017-18, FY 2018-19 based

on the tariff notifications in force in the area of supply of MSPCL.

Projections of various cost components required for determination of Aggregate

Revenue Requirement for FY 2016-17, FY 2017-18 and FY 2018-19 along with the

rationale for estimation of such cost and the philosophy adopted by MSPCL for

projecting sales, number of consumers and power purchase cost for FY 2016-17, FY

2017-18 and FY 2018-19 has been covered in this section.

For the purpose of projecting the financial & technical parameters for FY 2016-17, FY

2017-18 and FY 2018-19, MSPCL has considered its actual performance during FY

2012-13, FY 2013-14, FY 2014-15 and FY 2015-16(First five months) as base and has

projected the figures for FY 2016-17, FY 2017-18 and FY 2018-19 with supporting

rationales.


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Chapter 3: Annual Performance Review of FY 2015-16

As per JERC (Multi Year Tariff) Regulations, 2014, MSPCL is required to submit the

Annual Performance Review (APR) of the current year in each year of the control

period along with the Tariff Petition of the ensuing year. Since the JERC (Multi Year

Tariff) Regulations, 2014 is effective from 1st April, 2015, the APR of FY 2015-16 shall

be carried out under the JERC (Multi Year Tariff) Regulations, 2014.

It may be noted that the truing up petition for the past year i.e. FY 2014-15 is not being

carried out because the tariff order for FY 2014-15 issued by JERC was integrated for

all functions and was applicable for the erstwhile Electricity Department of Manipur.

However, with effect from February' 2014, the erstwhile Electricity Department of

Manipur has been restructured into Manipur State Power Company Limited which

mainly looks after the transmission function and Manipur State Power Distribution

Company Limited which looks after the distribution function. However, the truing up

of FY 2015-16 shall be carried out along with the tariff petition of next year i.e. FY 2017-

18.

1 Background The last tariff order for FY 2015-16 for MSPCL was issued by the Commission on 27

February, 2014. Before issuing the next Tariff Order, it is important to review the

technical as well as financial performance of MSPCL vis-à-vis the Tariff Order issued

by the Commission for the current year i.e. FY 2015-16. The review examines technical

and financial performance of MSPCL in FY 2015-16 with the figures approved for FY

2015-16 in the Tariff Order dated 27 February, 2014. The exercise also attempts to

gauge the effectiveness of the last Tariff Order by evaluating the actual performance as

against the targets set in the last Tariff Order. These aspects are discussed in the

following paras.

It may be noted that the actual truing up of the performance of FY 2015-16 shall be

done next year along with the tariff petition of FY 2017-18 when the audited account

statements are available.

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2 Transmission System Availability

As per JERC MYT regulations’ 2014the target transmission availability proposed for

FY 2015-16 for MSPCL is 98%. The estimated transmission availability for FY 2015-16

is also 98%.

3 Transmission Losses

MSPCL would like to submit that currently all the input and output points of

transmission system are not metered and all the out-going 11 kV feeders as well as

incoming 132 kV lines in the state are not metered. As such, the transmission losses in

the system cannot be measured for MSPCL at this point of time. MSPCL is making all

efforts to complete the metering of all Import and Export points by the end this

Financial Year. IT has placed the purchase order for procurement of 132 and 33 kv

meters.

However, In the absence of any base level of losses, the Commission had approved

intra-state transmission loss of 3.6% on estimated basis. MSPCL requests the

Commission to approve the transmission loss form next year for the tariff of FY 2017-

18 onwards.

4 Energy Requirement

MSPCL would like to submit that the approved energy quantum at the input of

MSPCL network was 851.7 MUs. In actual, the actual energy input at MSPCL

network is estimated to be 782.35 MUs because of lesser drawl by MSPDCL than the

projected figures approved by the Commission.

Table : Energy Requirementand Availability for FY 2015-16

Particulars Approved Actual (till

Aug'15) Estimated

Energy at state periphery of

Manipur 851.76 325.75 782.35

5 Operation and Maintenance Expenses

Employee cost

The Commission had approved an employee cost of Rs. 33.76 crores based on the

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actual data of FY 2013-14 assuming year on year increase of 15%. The actual

expenditure in FY 2015-16 till Sept'15 is Rs. 12.05 crores and based on the latest actual

data, the estimated expenditure in FY 2015-16 7s Rs. 31.06 crores.

MSPCL would like to submit that it has plans of recruting 463 number of employees in

the current year and it has already initiated the process of recrtuitment and the process

is underway. The new employees are expected to be inducted into the company by the

end of this calendar year. Further, around 67 retirements are expected for the current

financial year. As such, the actual employee strength of 874 as on 31.03.2015 is

expected to increase to 1270 by 31.03.2016. The average employee strength is

accordingly estimted to be 1072 for FY 2015-16.

MSPCL would like to submit that the assumed increase of 15% is not sufficient as the

total employee count is expected to increase by around 40% in the current year itself

because of the recruitments which are already in process.

MSPCL is suffering from acute shortage of manpower as on the date of restructuring.

There are only 874 employees against the sanctioned strength of 1585 as on 31.03.2015.

MSPCL plans to fill these vacancies over the control period from FY 2014-15 to FY

2017-18 so that the burden of employee cost does not increase sharply. However,

because of the existing shortage of manpower, the employee cost will increase in the

future years because of the intake planned in current year and the ensuing years.

The data of employees cost and the number of employees is given in the table below.

Table: Employee cost for FY 2015-16 (Rs. Crore)

Employees Cost Approved Actual (till

Sept'15)

Estimated

FY 2015-16

Grand Total 33.76 12.03 31.60

Average number of

employees 1101 860 1072

(b) Repairs and Maintenance expenses

There has been an increase in R&M expenses in the last year on account of huge

increase in asset base. It is submitted that most of the expenses on account of R&M

mainly happens in the last quarter as the funds are mostly released at that time. But

MSPCL expects the estimated expenses to be higher based on the actual R&M works

already done, the payouts for which are pending.

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Table: R & M Expenses for FY 2015-16 (Rs. crore)

MSPCL requests the Commission to approve the expenses for FY 2015-16 as estimated

as the same is necessary for proper maintenance and strengthening of the system and

quality of supply in the region in order to ensure consumer satisfaction.

(c) Administrative and General Expenses

The Commission had approved Rs. 2.37 crores as A&G expenses for MSPCL based on

the item wise projections provided by MSPCL. However, the actual expenses till

Aug'15 are Rs.0.53 crores and the estimated expenses for FY 2015-16 are Rs.3.07 crores.

The actual A&G expenses in FY 2014-15 was Rs.2.93 crores. The estimated expenses are

based on the actual data for FY 2014-15.

MSPCL would like to submit that post restructuring, there has been an increase in

A&G expenses on account of various IT interventions and capacity building initiatives.

As such, MSPCL requests the Commission to consider the actual expenses incurred in

FY 2015-16 and approve the same. The break-up of actual expenses is provided in the

next section.

Table: A&G Expenses of MSPCL for FY 2015-16 (Rs. crore)

A&G Cost Approved Actual (till

Aug'15)

Estimated

FY 2015-16

Grand Total 2.37 0.53 3.07

6 Capital Expenditure Plan for FY 2015-16

The actual progress of various capital expenditure schemes against the approved

figures are given below. MSPCL would like to submit that a majority of the expenses

in the capital investment schemes happens in the last quarter because of the time taken

in clearance of the invoices and release of funds. As such, the actual progress till

September' 15 submitted below is not a direct indicator of the estimated expenditure

for the full year. MSPCL has projected the estimated expenditure based on the

progress of the schemes and the actual expenditure of the past years.

Sl. No. R&M Cost Approved Actual (till

Aug'15)

Estimated

FY 2015-16

1 Grand Total 4.11 0.33 4.00

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Table : Capital Expenditure FY 2015-16 (Rs. crore)

Sl. No.

Name of the Scheme / Work Total Project

Cost

Approved Capital Investment

Actual Investment till Sept'15

Estimted Capital

Expenditure

I Generation Hydro

1 Loktak Down Stream HE Project 867.77 10.00 0.00 2.00

2 Tipaimukh HE project 8138.79 1.00 0.00 0.00

Total : Generation Hydro (I) 9006.56 11.00 0.00 2.00

II Transmission & Distribution

A.1 Ongoing Schemes

A.1.1 132 KV System

1 Installation of line bay equipment at 132 KV terminals at Churachandpur and Kakching 132/33 KV S/Ss

3.56 1.50 0.00 0.50

2 Augmentation of 132/33 KV S/S at Ningthoukhong S/S

4.99 0.90 0.00 0.00

3 Stringing of 2nd Circuit 132 KV line on the existing Double Circuit tower from Ningthoukhong - CCpur line (Rs. 316.29 lakh is for line bay only)

3.16 0.05 0.00 0.50

4 Constn. of 132 KV S/C lineYurembam to Yaingangpokpi

33.71 2.00 0.83 1.93

5 Installation of 132/33 KV S/S at Kongba (NEC scheme with State Plan support)

21.53 1.00 0.00 0.50

6 Installation of 132/33 KV S/S at Hundung (Ukhrul) & its associated line

51.30 5.90 0.50 0.50

7 Re-stringing of 132 KV line from Loktak to Jiribam

8.02 0.05 0.00 0.40

8 Renovation & Modernisation of 132/33 KV sub-station at Yurembam (NEC scheme with State Plan support)

35.41 4.87 0.00 2.26

9 Installation of 132/33 KV S/S at Chandel with associated 132 KV line (NLCPR scheme with State Plan support)

31.10 3.10 0.00 3.00

10 Augmentation of 132/33 KV S/S at Yaingangpokpi by installing additional 20 MVA transformer

6.87 0.05 0.00 1.00

11 Renovation & Modernisation of two nos. of 132/33 KV S/S at Yaingangpokpi&Ningthoukhong (NLCPR scheme with State Plan support)

39.02 6.24 0.00 7.45

12 Renovation & Modernisation of three nos. of 132/33 KV S/S at Kakching, Karong&Churachandpur (NLCPR scheme with

52.93 21.81 7.53 16.77

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Sl. No.


Cost



Estimted Capital

Expenditure

State Plan support)

13 Installation of 132/33 KV S/S at Thanlon with associated line (NLCPR scheme with State Plan support)

109.16 26.81 1.18 22.09

14 Providing of 132 KV Energy Meter 2.00 1.00 0.00 0.50

15 Installation of 2x20 MVA, 132 KV Sub-station along with the associated 132 Kv LI-LO line & related civils works at Thoubal (Support for NEC funding)

0.00 0.00 0.00 18.00

16 Augmentation of Rengpang 132/33 KV sub-station by installing (3x4.16+1x4.16) MVA, 132/33 KV single phase transformers

0.00 0.00 0.00 4.00

Sub-Total A.1.1 402.76 75.28 10.04 79.41

A.1.2 33 KV System

1 Augmentation of existing 33/11 KV Sub-stations at Yurembam, Mongsangei, Kongba, Keishampat, Lamphel, Iroisemba and Nilakuthi by installing 2x10 MVA (14 nos.)

15.91 1.00 0.00 0.50

2 Upgradation of the installed capacities of 33/11 KV S/Ss

20.05 1.50 0.00 1.00

3 Construction of 33 KV D/C line from Leimakhong to Iroisemba (NLCPR scheme with State Plan support)

12.47 0.79 0.59 0.10

4 Construction of 33 KV D/C line from Mongsangei to Khumanlampak via Kongba (NLCPR scheme with State Plan support)

23.36 5.00 0.00 1.00

5 Installation of 33 KV S/S at Thanlon (NLCPR scheme with State Plan support)

15.46 3.00 0.00 0.30

6 Installation of 33/11 KV sub-station at Henglep (NLCPR scheme with State Plan support)

7.05 0.05 0.30 1.21

7 Installation of 33/11 KV sub-station at Chakpikarong (NLCPR scheme with State Plan support)

11.54 1.28 0.00 1.41

8 Installation of 33/11 KV (2x10 MVA) S/S at Mantripukhri

9.12 0.70 0.00 0.00

9 Installation of 33/11 KV (2x5 MVA) S/S at Chingaren

8.69 0.20 0.00 0.10

10 Installation of 33 KV S/S at Willong (NLCPR scheme with State Plan support)

8.98 0.05 0.00 0.00

11 Installation of 33/11 KV (2x1 MVA) S/S at Oinamlong

7.08 2.20 0.83 1.00

12 Installation of 33/11 KV (2x3.15 MVA) S/S at Sagolmang (NLCPR scheme with State Plan support)

7.02 0.00 0.00 0.00

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Sl. No.


Cost



Estimted Capital

Expenditure

13 Installation of 33/11 KV (2x1 MVA) S/S at Sekmaijin (Support for NLCPR funding)

7.33 0.90 0.00 0.82

14 Installation of 33/11 KV (2x1 MVA) S/S at UkhrulKhunjao (NLCPR scheme with State Plan support)

9.49 1.00 0.00 0.21

15 Construction of 33/11 KV S/Ss under APDRP and RGGVY : Land acquisitions of the sub-stations

0.00 0.10 0.00 0.00

16 Installation of 33/11 KV (2x5 MVA) S/S at Chandel (NEC scheme with State Plan support)

4.78 1.75 0.40 0.20

17 Construction of Line bays, equipment foundation and civil works for Machi and Joupi 33/11 KV sub-stations

2.24 0.50 0.00 0.00

18 Installation of 33/11 KV S/S at Jessami with associated 33 KV line

14.68 1.00 0.00 0.10

19 Installation of 33/11 KV S/S at Sinjol with associated 33 KV line

13.54 2.00 0.00 2.00

20 Installation of 33/11 KV (2x5 MVA) S/S at JNIMS with associated 33 KV line

7.99 0.10 0.00 0.00

21 Re-stringing & strengthening of 33 KV line 1.82 0.00 2.00 2.00

22 Installation of 33/11 KV S/S at ThoubalLeishangthem with associated 33 KV line

10.87 0.10 0.25 1.91

23 Erection of 33 KV feeders from Yurembam POWERGRID sub-station

9.32 4.00 5.00 5.00

24 Installation of 2x5 MVA 33/11 KV sub-ststion with associated 33 KV line at Power House site of Loktak Down Stream HE Project (NEC scheme with State Plan support)

13.04 3.80 2.00 2.00

25 Installation of 33/11 KV sub-station with associated 33 KV line at Sugnu (NLCPR scheme with State Plan support)

11.27 2.94 0.41 3.44

26 Installation of 33/11 KV sub-station with associated 33 KV line at Khongjom (NLCPR scheme with State Plan support)

9.87 2.75 0.47 3.23

27 Installation of 33/11 KV sub-station with associated 33 KV line at Sekmai (NLCPR scheme with State Plan support)

9.52 2.70 0.76 3.17

28 Installation of 33/11 KV S/S at Gelnel (NLCPR scheme with State Plan support)

8.45 2.40 0.47 2.87

29 Installation of 33/11 KV sub-station with associated 33 KV line at NungbiKhullen (NLCPR scheme with State Plan support)

11.69 2.94 0.89 3.44

Total: A.1.2 292.62 44.75 14.36 37.01

A.2 New Schemes

A.2.1 400 KV System

21

Sl. No.


Cost



Estimted Capital

Expenditure

1 Installation of 400 KV Sub-Station along with associated line

370.00 90.00 32.76 37.78

A.2.2 132 KVSystem

1 Installation of 132/33 KV sub-station at Morehwth erection of associated 132 KV line.

47.85 20.00 12.58 19.18

2 Installation of 132/33 KV S/S at Thoubal with associated 132 KV line.

39.80 17.00 7.95 7.95

3 Renovation & Modernisation of 132/33 KV S/S at Jiribam with installation of one addl. 20 MvA transformer

2.73 2.70 0.73 1.50

4 Augmentation of 132/33 KV S/S at Ningthoukhong by installing one addl. 20 MVA transformer

2.61 2.10 1.11 0.50

5 Augmentation of 132/33 KV S/S at Kongba by installing one addl. 20 MVA transformer

2.61 2.10 0.00 0.50

6 Composite scheme for Development of Transmission & Distribution Network in NER (World Bank loan)

443.42 7.00 0.00 0.10

7 Erection of 132 KV line (2nd circuit) from Yaingangpokpi to Kakching via Kongba

25.73 5.50 0.00 3.00

8 Erection of 132 KV line (2nd circuit) from Kakching to Churachandpur

11.48 5.50 7.70 7.70

9 Augmentation of 132/33 KV S/S at Rengpang by installing additional 12.5 MVA transformer

5.00 2.00 0.00 2.00

10 Construction of 132 KV S/C line (2nd Circuit) on D/C Towers from Leimatak Power House (NHPC) to 132 KV S/S at Ningthoukhong.

0.00 0.00 0.00 10.00

11 Installation of 132 KV S/S along with associated line at Elangkhangpokpi, Thoubal District

0.00 0.00 0.00 15.00

12 Construction of 132 KV S/C line (3rd Circuit) strung on D/C Towers from 132 KV Yurembam S/S (State) to Yurembam S/S (PGCI).

0.00 0.00 0.00 2.00

13 Installation of 2x12.5 MVA, 132 KV S/S along with associated line at Tipaimukh, Churachandpur District

0.00 0.00 0.00 5.00

Sub-Total : A.2.1 and A.2.2 951.23 153.90 62.84 112.21

A.2.3 33 KV System

1 Installation of GIS 33/11 KV S/S at Capitol Project with associated 33 KV line

16.24 1.00 0.00 0.00

2 Installation of GIS 33/11 KV S/S at Pisum with associated 33 KV line

13.18 1.00 0.00 0.00

3 Installation of 33/11 KV sub-station with associated 33 KV line at Sagolband

8.03 1.00 0.00 0.00

22

Sl. No.


Cost



Estimted Capital

Expenditure

4 Installation of 33/11 KV sub-station with associated 33 KV line at Hiyangthang

8.68 1.00 0.00 0.00

5 Installation of 33/11 KV sub-station with associated 33 KV line at Gumnom

6.40 1.00 0.00 2.04

6 Re-stringing & strengthening of 33 KV line lines 3.00 0.50 0.00 0.00

7 Providing of 33 KV &11 KV feeder meters. 5.00 2.00 0.00 1.00

8 Renovation of 33/11 KV S/S at Khoupum 1.00 0.30 0.00 0.15

9 Installation of 33/11 KV S/S at Moirangpali with associated 33 KV line

10.45 1.00 0.00 0.05

10 Installation of 33/11 KV S/S at Senapati with associated 33 KV line

9.98 0.50 0.00 0.00

11 Augmentation of 33/11 KV Sub-stations at Moreh, Karong, Nambol, Bishnupur, Ningthoukhong, MoirangKhunou, Kangpokpi and Leimakhong.

18.77 1.50 0.00 0.00

12 Installation of 33/11 KV S/S at Mualnuam with associated 33 KV line

12.15 1.00 0.00 0.05

13 Installation of 33/11 KV sub-station with associated 33 KV line at Gamphajol

0.00 0.00 2.00 2.00

14 Re-stringing & strengthening of 33KV line from KhumanLampak to Nilakuthi

0.00 0.00 0.00 0.00

15 Contn. Of 2*1 MVA,33/11 KV SS at Sinjwal 0.00 0.00 0.00 0.00

16 Instln. On 2*2.5 MVA 33 KV SS and related civil works at Phungyar,UkhrulDistrict,Manipur on turn key basis.

0.00 0.00 2.00 2.00

17 Instln. Of 2*2.5 MVA 33 KV SS and related civil works at KasomKhullenUkhrul District Manipur on turn key basis

0.00 0.00 2.00 2.00

18 Instln. Of 2*2.2.5 MVA 33 KV SS and related civil works at MayangkhangSenapati District, Manipur on Turn Key Basis.

0.00 0.00 1.50 1.50

19 Instln. Of 2*2.5 MVA 33 KV SS and related civil works at Mao SenapatiDistrict,Manipur on turn key basis.

0.00 0.00 1.50 1.50

20 Installation of 33/11 KV S/S at Longpi with associated 33 KV line

0.00 0.00 0.00 0.05

21 Installation of 33/11 KV S/S at Nungleiband with associated 33 KV line

0.00 0.00 0.00 0.05

Sub-Total : A.2.3 112.88 11.80 9.00 12.40

III Misc. Schemes 61.89 14.10 6.34 18.33

Total: Normal Plan I+II+III) 10827.95 310.83 102.58 261.35

It may be observed from the above table that the estimated capital expenditure for FY

2015-16 has decreased from the projected figure of Rs.310.83 crores to Rs. 261.35 crores.

Out of the total estimated expenditure, Rs. 102.58 crores has already been spent till

23

September'2015. MSPCL would like to submit that there were some new schemes

which it had to undertake in FY 2015-16 in order to meet the demand, which were not

planned. Details of scheme wise progress is given above.

7 Gross Fixed Assets

The approved and estimated values of GFA for FY 2015-16 is shown below. It is

submitted that the actual value of assets have decreased because the assets transferred

from the erstwhile Electricity Department of Manipur has been transferred at written

down values as on 31.01.2014 and not the gross asset value as projected earlier. A copy

of the financial statements for FY 2014-15 is attached as Annexure for reference.

Further, it may be seen from audited statements that MSPCL is having a Capital

Works in Progress (CWIP) of Rs. 469 crores as on 31.03.2015, which are expenses

incured on ongong projects. Out of this CWIP, a number of projects shall be

commissioned in FY 2015-16. As such, it is estimated that new assets of around Rs. 330

crores shall be capitalized in FY 2015-16, from the existing CWIP and new investment

as plan of FY 2015-16 of Rs. 261.3 crores (as mentioned above).

Against the estimated capitalization of Rs.330 crores, the Commission had approved

only Rs.157 crores. MSPCL has given the detailed scheme wise progress of capital

investment plan and requests the Commission to consider the estimated figures for

projections under this petition.

Table Gross Fixed Assets (Rs. crores)

Particulars Approved Estimated

FY 2015-16

Opening value of assets at the start of year 508.64 194.64

New assets capitalized during the year 157.33 329.35

Closing value of assets at the end of the year 665.97 523.99

7 Depreciation

Based on the category wise assets shown above and the depreciation rates provided by

the Commission in JERC (MYT Tariff) Regulations 2014, the depreciation is calculated

as given below. Because of the decrease in value of assets as provided above, the

depreciation figures have decreased accordingly

Table: Depreciation for FY 2015-16 (Rs. crore)

24

Depreciation Approved Estimated

FY 2015-16

Grand Total 0.88 0.24

8 Interest and Finance Charges

Last year, MSPCL had expected the World Bank projects to be funded through a

small component of 10%. But after detailed discussion with all stakeholders, it has

now been decided that the World Bank projects shall be undertaken directly by

Government of India and the assets after completion shall be handed over to

MSPCL. As such, there shall be no liability of loan for MSPCL on account of World

Bank projects. As such, there is no interest and finance charges estimated during FY

2015-16 and beyond.

Table : Interest and Finance Charges for FY 2015-16 (Rs. crore)


Aug'15)

Estimated

FY 2015-16

Total Interest and Finance Charges 0.00 0.00 0.00

9 Interest on Working Capital

For APR, MSPCL has calculated the interest on working capital as per the new JERC

(Multi Year Tariff) Regulations, 2014, and based on the estimated figures shown

earlier. The calculation is shown below:

Table: Interest on Working Capital for the FY 2015-16 (Rs. crore)

Sl. No. Particulars CY

2015-16

1 Receivables for two months

calculated on NATAF 5.13

2 Maintenance spares @ 15% of O&M 5.80

3 O&M expenses for 1 month 3.22

4 Total Working Capital 14.15

5 Rate of Interest 14.75%

6 Interest on Working Capital

estimated 2.09

Interest on working capital as approved

by JERC for FY 2015-16 order 1.92

25

10 Return on Equity (with Tax)

JERC (Multi Year Tariff) Regulations, 2014 provides for return at 15.5% on post tax

basis. After inclusion of tax at 20.01%, the effective return rate works out to be 19.38%.

Hence, the estimated value of RoE claimed on an equity amount of Rs. 10.05 crores,

under this APR is 1.95 crores. It may be noted that the Commission had considered the

paid up equity of Rs. 10.00 crores but the actual paid up equity as per account

statements is Rs. 10.05 crores.

Table: Return on Equity for FY 2015-16 (Rs. crore)

Return on Equity Approved Estimated

FY 2015-16

Grand Total 1.86 1.95

11 Non-Tariff Income

The estimated value for FY 2015-16, actual amount till Aug'15 and the approved values

for non tariff income are shown below:

Table: Non-Tariff Income for FY 2015-16(Rs. crore)


Aug'15)

Estimated

FY 2015-16

Non-Tariff Income 0.38 5.22 11.48

Out of the estimated expenditure of Rs. 11.48 crores, Rs. 7.54 crores is income from

short term open access charges. The other heads are Agency charges, Interest from

FD, bank account etc. MSPCL would like to submit that the energy transacted

through short term open access have seen a very sharp increase and as such the

income from such transactions have also increased.

12 Aggregate Revenue Requirement

Based on the above analysis and approvals, the Aggregate Revenue Requirement

estimated for APR by MSPCL against the figures approved by the Commission for FY

2015-16 is furnished in Table below:

26

Table : Aggregate Revenue Requirement for FY 2015-16 (Rs. crore)

Sr. No. Particulars Approved

Estimated under

APR

Employee costs 33.76 31.60

6 Repair & Maintenance expense 4.11 4.00

7 Adm& Gen. Expenses 2.37 3.07

8 Depreciation 0.88 0.24

9 Interest & Finance Charges 0 0.00

10 Interest on Working capital 1.92 2.09

Total Cost 43.04 41.01

12 Add: Return on Equity / ROE 1.86 1.95

13 Less: Non Tariff income 0.38 11.48

Less: Expenses Capitalized 0.76 0.69

Aggregate Revenue Requirement 43.76 30.78


27

Chapter 4: Aggregate Revenue Requirement for FY 2016-17 to FY 2018-19 and Transmission charges for FY 2016-17

MSPCL is submitting its Multi yearTariff petition for the determination of ARR for FY

2016-17 to FY 2018-19, transmission tariff for FY 2016-17 and Annual Performance

Review of FY 2015-16 broadly on the basis of the principles outlined in Tariff

Regulations notified by JERC. MSPCL has considered the past trends and taken

cognizance of other internal and external developments to estimate the likely

performance for for FY 2016-17, FY 2017-18 and FY 2018-19.

The following sections explain in detail the basis and forecasts of the following

elements for FY 2016-17, FY 2017-18 and FY 2018-19:

a. Capital Investment Plan for the current year and ensuing year

b. Determination of Aggregate Revenue Requirement by forecasting

the following costs, other income & returns:

i. Employee Cost

ii. Repairs & Maintenance Cost

iii. Admin & General Cost

iv. Interest Cost

v. Interest on Working Capital

vi. Depreciation

vii. Return on Equity

viii. Non-Tariff Income

c. Additional Revenue through the proposed Tariff Revision and the

arrangements to cover the revenue gap.

28

Contracted Capacity in Manipur

1. Manipur has allocations in Central Sector Generating Stations of NHPC,

NEEPCO (Hydro), NEEPCO(Gas),Tripura Baramura gas basedPower Plant,

OTPC Pallatana unit 1&2(Gas) and NTPC Bongaigaon plant.

2. Further the allocation from various power stations to Manipur has been

listed in the table below:


29

Table 1: Energy Allocation from Central Generating Stations

Source FY 14-15 (Actual) FY 16-17 (Proj.) FY 17-18 (Proj.) FY 17-18 (Proj.)

Installed Capacity

Manipur Allocation

(MW)

Avg . Allocation in

%

Manipur Allocation

(MW)

Avg . Allocation in

%

Manipur Allocation

(MW)

Avg . Allocation

in %

Manipur Allocation

(MW)

Avg . Allocation

in %

NEEPCO(Hydro)

Kopili I HEP 200 14.78 7.39% 14.78 7.39% 14.78 7.39% 14.78 7.39%

Kopili II HEP 25 1.74 6.95% 1.74 6.95% 1.74 6.95% 1.74 6.95%

Khandong HEP 50 3.28 6.56% 3.28 6.56% 3.28 6.56% 3.28 6.56%

Ranganadi HEP 405 33.91 8.37% 33.91 8.37% 33.91 8.37% 33.91 8.37%

Doyang HEP 75 5.90 7.87% 5.90 7.87% 5.90 7.87% 5.90 7.87%

New Projects

Kameng HEP Stage I 300 0.00 0.00% 7.00 2.33% 7.00 2.33% 7.00 2.33%

Kameng HEP Stage II

300 0.00 0.00% 0.00 0.00% 7.00 2.33% 7.00 2.33%

Pare HEP 110 0.00 0.00% 4.40 4.00% 4.40 4.00% 4.40 4.00%

Turial HEP 60 0.00 0.00% 0.00 0.00% 2.40 4.00% 2.40 4.00%

Subtotal 1525 59.61

71.01

80.41 80.41

NEEPCO(Gas Based)

Assam Gas based Power Project

291 23.59 8.11% 23.59 8.11% 23.59 8.11% 23.59 8.11%

Agartala Gas Turbine Power

Project 84 6.98 8.31% 6.98 8.31% 6.98 8.31% 6.98 8.31%

Agartala Gas Turbine Power

51 0.00 0.00% 4.24 8.31% 4.24 8.31% 4.24 8.31%

30


Installed Capacity

Manipur Allocation

(MW)

Avg . Allocation in

%

Manipur Allocation

(MW)

Avg . Allocation in

%

Manipur Allocation

(MW)

Avg . Allocation

in %

Manipur Allocation

(MW)

Avg . Allocation

in %

Project- EXT

New Projects

Monarchak Gas Based Power Project

101.00 0.00 0.00% 4.04 4.00% 4.04 4.00% 4.04 4.00%

Subtotal 527 30.57

38.85

38.85 38.85

NHPC(Loktak HEP)

Purchased (20.02 MW) and Free (12.60

MW) 105 31.62 30.12% 39.62 37.73% 39.62 37.73% 39.62 37.73%

Subtotal 105 31.62

39.62

39.62 39.62

TRIPURA

Baramura(Gas Based)(Unit IV &

Unit V) 42 10.50 25% 10.50 25% 10.50 25% 10.50 25%

New Projects

OTPC-(Pallatana-Unit I)

363 21.00 5.79% 21.00 5.79% 21.00 5.79% 21.00 5.79%

OTPC-(Pallatana-Unit II)

363 21.00 5.79% 21.00 5.79% 21.00 5.79% 21.00 5.79%

NTPC

NTPC Bongaigaon Unit I

250 0.00 0.00% 13.33 5.33% 13.33 5.33% 13.33 5.33%

NTPC Bongaigaon Unit II

250 0.00 0.00% 13.33 5.33% 13.33 5.33% 13.33 5.33%

31


Installed Capacity

Manipur Allocation

(MW)

Avg . Allocation in

%

Manipur Allocation

(MW)

Avg . Allocation in

%

Manipur Allocation

(MW)

Avg . Allocation

in %

Manipur Allocation

(MW)

Avg . Allocation

in %

NTPC Bongaigaon Unit II

250 0.00 0.00% 13.33 5.33% 13.33 5.33% 13.33 5.33%

Subtotal 1518 52.5

92.49

92.49 92.49

Total at the End of the Year

3675 174.30

241.97

251.37 251.37

Average Contracted Capacity for the

Year 150.48 218.22 243.37 243.37


32

3. It can be seen from the above table that total contracted capacity as on date

in Manipur is174.30 MW which is expected to increase up to 241.97 MW,

251.37 MW and 251.37 MW respectively in FY 2016-17, FY 2017-18 and FY

2018-19 with the expected commissioning of new generating units namely

NTPC Bongaigaon Unit I, II and III, NEEPCO Monarchak Gas Based Power

Project, Kameng HEP, Pare HEP and Tuirial HEP.

4. The own generation of Manipur is very less therefore it mainly relies on the

allocations of power from Central Generating Stations like NHPC,

NEEPCO, OTPC Pallatana Unit I and Tripura based Baramura power plant

to meet its energy requirement. Further, MSPDCL is also expected to start

getting power from NTPC Bongaigaon Unit I and NEEPCO Monarchak Gas

Based Power Project in last quarter of FY 2015-16 and NTPC

BongaigaonUnit II & III in FY 2016-17. The total allocation from NTPC

Bongaigaon Unit I, II & III is 39.99 MW. MSPDCL is also expecting power

from Kameng HEP Stage I and Pare HEP in FY 2016-17 with a share of

11.40 MW and from Kameng HEP Stage II and Tuirial HEP in FY 2017-18

with a share of 9.40 MW. Also MSPDCL’s share from NHPC Loktak HEP

has been increased by 8 MW (Non-Free category).

5. MSPCL proposed to recover the transmission ARR as fixed monthly

charges based on the contracted capacity of the distribution licensee i.e

MSPDCL. The subsequent sections detail the calculation of transmission

ARR.

1. Operation & Maintenance Costs

1. Operation and Maintenance expenses comprise of the following heads:

Employees Expenses which includes the basic pay, dearness pay, dearness

allowances, house rent allowances, and other allowances, new pension

schemepaid to the staff;

Repair and Maintenance (R&M) Expenses, which include all expenditure

incurred on the maintenance and upkeep of transmissionassets; and

33

Administrative and General Expenses, which include all expenditure

incurred in operating a business such as office and IT expenses, consultancy

and regulatory fee etc.

2. As such, the arrear figures have been removed from the actual data of

employee expenses for considering the base of projections for FY 2015-16 and

FY 2016-17, FY 2017-18 and FY 2018-19 respectively. However considering

impact of implementation of upcoming VII pay commission, thetotal projected

Employee cost has been increased by 20% for FY 2017-18 and FY 2018-19.

3. The methodology adopted by MSPCL for projecting the values of each

component of the O&M expense for projecting the values of each component of

the O&M expense for FY 2016-17, FY 2017-18 and FY 2018-19 has been

explained in the following section.

a. Employee Expense

Old Employees of EDM

1. As per the transfer scheme notified by Government of Manipur under the

restructuring exercise, all the employees (including regular employees,

work charge staff and muster roll) of erstwhile Electricity Department have

been transferred to the new companies on deputation for three years. They

have transferred to the new companies on "as-is-where-is" basis". As such,

the old employees of EDM working in distribution area have been

transferred to MSPDCL while those working in transmission function have

been transferred to MSPCL.

2. Under the deputation, all the employees of MSPCL shall have the same pay

structure as existing in EDM and no deputation allowance is being paid to

the employees. Also, the terminal benefits (including pension, gratuity and

leave encashment) of the old regular employees shall continue to be borne

directly by the State Government. The new companies shall only bear the

salary component (including basic, HRA TA, DA etc) of the deputed

employees.

3. The employee expenses for the old employees have been projected based

on the actual payouts made in FY 2014-15 after restructuring by MSPCLand

34

assuming 3% increase in basic pay (including grade pay, additional pay)

annually and 12% increase in dearness allowance.

4. New Employees of MSPCL

MSPCL is suffering from acute shortage of manpower and as on the date of

restructuring, there are only 874employees against the sanctioned strength

of 1585. MSPCL plans to fill these vacancies over a period from FY 2015-16

to FY 2018-19so that the burden of employee cost does not increase sharply

in a single year. The vacancies in MSPCL are for various categories like

Switch Board Operators and Assistants, Line Man, clerical staff etc.

Further, in order to meet the need of corporatization and to strengthen the

key activities of finance, accounts and legal, MSPCLneeds to recruit officer

level staff of Assistant Manager, Managers and Senior Managers for these

functions.

In FY 2015-16, MSPCL plans to recruit 463new employees. Some of these

employees have already joined MSPCL and for the rest, recruitment

process is in progress. Similarly, MSPCL plans to recruit 200, 150, and

100employees respectively for FY 2016-17, FY 2017-18 and FY 2018-19 to fill

up the vacancies in the sanctioned strength and to strengthen the

institutional capability of the new company. The cost of the new employees

has been estimated based on the existing average pay of the old employees.

5. National Pension Scheme:

NPS is a defined contribution based pension scheme launched by

Government of India with effect from January' 2004. Government of

Manipur has also adopted NPS for employees joining after 2005. MSPCL

has around 550, 725 and 850 employees who are eligible under NPS in FY

2016-17, FY 2017-18 and FY 2018-19 respectively and as such, MSPCL

contributes 10% of the basic pay as pension contribution.

6. Projection of Salaries and Cost

For projecting the employees cost, the average basic bay of the employees

(including grade pay and House Rent Allowance) has been increased by

3%.Further, the provision of DA component is increased by 12% in line

35

with the recommendations made by the Sixth Central Pay Commission,

which is to be increased at the rate of 6% every six months and also as per

the policy adopted by State Government in past few years.

7. The total staff strength of MSPCLis projected to increasein the next couple

of yearsbecause of the large number of recruitments ongoing and planned.

The average number of employees in MSPCL is expected to increase from

874in FY 2014-15 to 1072in FY 2015-16 and 1533in FY 2018-19, based on the

number of retirements and recruitments projected, as given above.

8. The MSPCL would like to bring into the notice of Hon’ble Commission that

certain components of employee cost increase should be considered as

uncontrollable factors, especially factors like DA/Basic hike through

Government, revision through VII Pay Commission etc. The MSPCL would

not be in a position to not allow these increases as any deviation will be

against law/policy. The revision in salaries and other incentives are kept at

par with the other departments of Government of Manipur and is a legal

binding on the department to follow the same. Therefore, MSPCL requests

the Commission to adopt a relaxed and realistic approach for employee

expenditure, keeping in view the obligation of the organization towards the

employees.

Table 2: Employee Cost(Rs. Lakhs)

Employees Cost (Rs Cr) FY 2014-15

(Actual) FY 2015-16 (Estimated)

FY 2016-17 (Projected)



Salaries 8.82 11.15 14.36 16.11 17.41

Additional Pay 2.00 2.53 3.26 3.66 3.95

Dearness Allowance (DA) 11.04 15.16 21.23 29.74 41.65

Medical Expenses Reimbursement

0.05 0.07 0.08 0.09 0.10

Travelling Allowance(Conveyance

Allowance)

0.57 0.72 0.91 0.99 1.04

Provident Fund Contribution/ NPS

0.07 1.24 1.63 2.51 3.56

Any Other Items/ ACP Arrear/ Spl Pay/Cy. All

0.59 0.72 0.90 0.98 1.03

Impact of VII th Pay commission 0.00 10.81 13.75

Net Employee expenses (D)-(E) 23.15 31.60 42.38 64.89 82.48

Opening Employees 874 1270 1411 1509

36

Employees Cost (Rs Cr) FY 2014-15





Retirements 67 59 52 53

Recruitments 463 200 150 100

Closing Number of Employees 874 1270 1411 1509 1556

Average Number of Employees 1072 1341 1460 1533

9. MSPCLsubmits to the Hon’ble Commission to approve the employee costs

as projected by the Petitioner.

b. Repairs & Maintenance Expense

1. These expenses include expenses on repairs and maintenance of Plant and

Machinery, Transformers, Lines, cable network etc., Vehicles, Office

equipment, etc.

2. The repair and maintenance expense in FY 2014-15 as per the account

statements has been assumed to the base R&M expenses for MSPCL. Based

on this base, the R&M expenses for next years have been increased based

on ratio of Asset addition and WPI (which is 2%).

3. Based on the above mentioned trend, for the ensuing years, the R&M cost

in expected to increase for the MYT period which is shown in the table

below

4. MSPCL submits to the Commission that it is important for MSPCLto incur

the R&M expenses as mentioned above in order to maintain and strengthen

the system and quality of supply.

Table 3: Repairs & Maintenance Expense

R&M Cost (Rs Cr) FY 2014-15





Grand Total 3.93 4.00 7.68 12.50 17.99

1. MSPCL requests the Commission to approve the R&M expense without

any disallowances as the same is necessary for proper maintenance and

37

strengthening of the system and quality of supply in the region in order to

ensure consumer satisfaction.

c. Administration & General Expense

1. Administrative and General (A&G) expense comprise of various sub-heads

including the following:

Travel and conveyance expenses

Hydel investigation expenses

Consultancy and regulatory fees

Office expenses

Publication expenses

Other administration expenses

2. The A&G expense for MSPCL in FY 2014-15 is 2.93 crores, as per the account

statements. MSPCL has projected the A&G expense for FY 2015-16 and for

MYT period for each of the heads based on the expected increase/decrease in

each of the head and taking into account inflationary increase expected in some

heads.

3. For FY 2015-16 total A&G expenses have been projected at Rs. 3.07 Crore and

for FY 2016-17, FY 2017-18 and FY 2018-19 total A&G expenses have been

projected at Rs. 3.22 crore, 3.38 Crore and 3.54 Crores respectively on account

of A&G expenses.

Table 4: Administrative & General Expenses

A&G Cost (Rs Crores) FY 2014-15





Telephone, Postage, Telegram & Telex Charges

0.03 0.03 0.04 0.04 0.04

Vehicle Expenses 0.17 0.18 0.19 0.20 0.21

Printing And Stationery 0.15 0.15 0.15 0.15 0.15

Advertisement Expenses 0.13 0.14 0.15 0.16 0.17

Electricity Charges To Offices 1.28 1.36 1.44 1.53 1.62

Miscellaneous Expenses, Meetings, Seminars

0.31 0.33 0.35 0.37 0.39

38

A&G Cost (Rs Crores) FY 2014-15





Legal Charges 0.33 0.33 0.33 0.33 0.33

Auditor's Fee,Consultants, License

0.14 0.14 0.14 0.14 0.14

Vehicle Running Expenses Truck / Delivery Van

0.10 0.10 0.11 0.12 0.12

Fabrication Charges, Furniture, Local Purchase

0.29 0.31 0.33 0.35 0.37

Total A&G Expenes 2.93 3.07 3.22 3.38 3.54

4. Considering the above aspects, MSPCL submits to the Commission to approve

the A&G costs in full without any disallowance, as these costs are essentially

required to administer MSPCL’s operation.

O&M charges

5. Based on the above mentioned expenses for employees, A&G expenses and

R&M expenses, the total O&M expense is tabulated below. Around 2% of

employee and A&G expenses is capitalized assuming that this expenses are

incurred for addition of new assets and are of capital nature.

Table 5: Net O&M Expenses

Sl.no ITEMS FY 2014-15





(A) Breakup of O&M

expenses

1 Employee Cost 23.15 31.60 42.38 64.89 82.48

2 Repair and Maintenance 3.93 4.00 7.68 12.50 17.99

3 Administrative and General Expenses

2.93 3.07 3.22 3.38 3.54

LESS: O&M expenses

capitalized 0.00 0.69 0.91 1.37 1.72

Net O&M Expenses 30.01 37.98 52.37 79.40 102.30

2. Capital Expenditure Plan

1. Considering the increase in demand from the Distributioncompany and

increased availability for the state, MSPCL would be required to undertake

significant capital expenditure for system augmentation and strengthening.

System augmentation would not only help MSPCL in handling increased load

but would also ensure better quality of supply and network reliability to the

39

consumers. Since, the current transmission loss levels are high, the capital

expenditure would help in reduction in the transmission loss level.

2. Each year, MSPCL prepares an Annual Plan for the capital investment for new

schemes and continuing schemes which it plans to incur in the ensuing year.

The MSPCL has to undertake various capital projects for transmission function

mainly focusing on the strengthening electricity network and augment new

networks for ensuring reliable power to its consumers.

Ongoing Capital Expenditure Schemes undertaken by MSPCL

New generation projects - Loktak downstream hydel project and

Tipaimukh hydel project

Installation of line bay equipment at 132 KV terminals at

Churachandpur and Kakching 132/33 KV S/Ss

Augmentation of 132/33 KV S/S at Ningthoukhong S/S and Karong

S/S

Stringing of 2nd Circuit 132 KV line on the existing Double Circuit

tower from Ningthoukhong - CCpur line

Constn. of 132 KV S/C line Yurembam to Yaingangpokpi

Installation of 132/33 KV S/S at Kongba

Installation of 132/33 KV S/S at Hundung (Ukhrul) & its associated

line

Re-stringing of 132 KV line from Loktak to Jiribam

Renovation &Modernisation of 132/33 KV sub-station at Yurembam

Installation of 132/33 KV S/S at Chandel with associated 132 KV line

Augmentation of 132/33 KV S/S at Yaingangpokpi by installing

additional 20 MVA transformer

Renovation &Modernisation of two nos. of 132/33 KV S/S at

Yaingangpokpi&Ningthoukhong

Renovation &Modernisation of three nos. of 132/33 KV S/S at

Kakching, Karong&Churachandpur

Installation of 132/33 KV S/S at Thanlon with associated line

Providing 132 KV Energy Meter

40

Installation of 2x20 MVA, 132 KV Sub-station along with the

associated 132 Kv LI-LO line & related civils works at Thoubal

Augmentation of Rengpang 132/33 KV sub-station by installing

(3x4.16+1x4.16) MVA, 132/33 KV single phase transformers

Augmentation of existing 33/11 KV Sub-stations at Yurembam,

Mongsangei, Kongba, Keishampat, Lamphel, Iroisemba and Nilakuthi

by installing 2x10 MVA (14 nos.)

Upgradation of the installed capacities of 33/11 KV S/Ss

Construction of 33 KV D/C line from Leimakhong to Iroisemba and

from Mongsangei to Khumanlampak via Kongba

Installation of 33 KV S/S at Thanlon, Henglep, Chakpikarong,

Chingaren, Oinamlong, Sagolmang, UkhrulKhunjao, Chandel,

Jessami, Sinjol, JNIMS, ThoubalLeishangthem, Sugnu, Khongjom,

Sekmai, Gelnel, NungbiKhullen

Construction of Line bays, equipment foundation and civil works for

Machi and Joupi 33/11 KV sub-stations

Re-stringing & strengthening of 33 KV line from Utlou to

Ningthoukhong (20.30 Km.)

Erection of 33 KV feeders from Yurembam POWERGRID sub-station

Installation of 2x5 MVA 33/11 KV sub-ststion with associated 33 KV

line at Power House site of Loktak Down Stream HE Project (NEC

scheme with State Plan support)

Re-stringing & strengthening of 33 KV lines

3. Apart from the above schemes, MSPCL has also planned to new projects for

system strengthening and augmentation and improvement of electricity

infrastructure.

Installation of 400 KV Sub-Station at Thoubal

Construction of 400 KV line on D/C towers from Yurembam to

Thoubal via Nambol

Compensatory Aforestation for stringing of transmission lines

Installation of 132/33 KV sub-station at Morehwth erection of

associated 132 KV line.

41

Augmentation of 132/33 KV S/S at Jiribam (Installation of one old 20

MVA transformers from Yurembam)-Phase-II

Augmentation of 132/33 KV S/S at Ningthoukhong by installing one

addl. 20 MVA transformer

Composite scheme for Development of Transmission & Distribution

Network in NER

Stringing of 132 KV line (2nd circuit) from Yaingangpokpi to

Kakching via Kongba

Erection of 132 KV line (2nd circuit) from Kakching to

Churachandpur

Construction of 132 KV S/C line (2nd Circuit) on D/C Towers from

Leimatak Power House (NHPC) to 132 KV S/S at Ningthoukhong.

Installation of 132 KV S/S along with associated line at

Elangkhangpokpi, Thoubal District

Construction of 132 KV S/C line (3rd Circuit) strung on D/C Towers

from 132 KV Yurembam S/S (State) to Yurembam S/S (PGCI).

Installation of 1x20 MVA transformer at Yaingangpokpi 132/33 KV

sub-station for replacement of old transformer

Installation of 2x12.5 MVA, 132 KV S/S along with associated line at

Tipaimukh, Churachandpur District

Aug. of 33/11 kv S/S at Kangpokpi, Karong, Wangoi with Assosiated

33 kv line 1x3.15- 2x3.15

Installation of 33/11 kv S/S at Wangjing, Yairipok, Heirok, Capitol,

Pisum, Sagolband, Hiyangthang, Gumnom, Moirangpali, Senapati,

KasomKhullen, Gamphazol, Mayangkhang, Mao, Longpi,

Nungleiband, Mualnuam with Assosiated 33 kv line

Augmentation of 33/11 KV Sub-stations at Moreh, Karong, Nambol,

Bishnupur, Ningthoukhong, MoirangKhunou, Kangpokpi and

Leimakhong.

Providing of 33 KV &11 KV feeder meters.

Renovation of 33/11 KV S/S at Khoupum

33 kv and lines Paogi (Ukhrul) and Thuging (Senapati)

R&M of 33 kv s/s Phase I

42

4. Apart from the above schemes, MSPCL has also planned to below mentioned

miclleneous schemes

Survey & Investigation of Irang, Tuivai, MaklangTuyungbi,

Nungleiband

Establishment of State Load Despatch Centre (SLDC) / Information

Technology (IT)

Construction of Administrative Building, Divisional & Sub-Divisional

office buildings, quarters, complain rooms, etc.

Purchase of vehicle, Consultancy fee for Corportisation etc.

5. Following Table depicts the detailed capital investment plan ofMSPCLfor

entire MYT period and the total estimated expenditure in FY 2015-16: Also, the

funding pattern for each scheme is given below


43

Table 6 Capital Investment Plan

Sl. No.

Name of the Scheme / Work

Project Cost

(Sanctioned / PIB/ HTC cost)

Cumulative

Expdr. as on Mar,

2015

Amtreqd for

completion of

scheme

Total Plan for

FY 2015-16

Capital Investment during 2016-17 Capital Investment during

2017-18 Capital Investment during 2018-19

Normal

State Plan

NLCPR

NEC Equit

y Total

Normal

State Plan

NLCPR

NEC Equit

y Total

Normal State Plan

NLCPR k

NEC

Equity Total

1 2 3 4 5 9 9 10 11

12 9 10 11

12 9 10 11

12

I Generation Hydro

1 Loktak Down Stream HE Project

867.77 0.00 867.77 2.00

10.00 10.00

20.00 20.00

30.00 30.00

2 Tipaimukh HE project 8138.79 0.00 8138.79 0.00

0.00

0.00

0.00

Total : Generation Hydro (I)

9006.56 0.00 9006.56 2.00 0.00 0.00 0.00 10.00 10.00 0.00 0.00 0.00 20.00 20.00 0.00 0.00 0.00 30.00 30.00

II Transmission & Distribution

A.1 Ongoing Schemes

A.1.1

132 KV System

1

Installation of line bay equipment at 132 KV terminals at Churachandpur and Kakching 132/33 KV S/Ss

3.557 0.000 3.557 0.001 3.500

3.500

0.000

0.000

2 Augmentation of 132/33 KV S/S at Ningthoukhong S/S

4.987 4.586 0.400 0.000 0.400

0.400

0.000

0.000

3 Augmentation of 132/33 KV S/S at Karong S/S

6.600 6.506 0.094 0.500 9.400

9.400

0.000

0.000

4

Stringing of 2nd Circuit 132 KV line on the existing Double Circuit tower from Ningthoukhong -

3.163 3.163 0.000 0.500 0.000

0.000

0.000

0.000

44

Sl. No.


Project Cost


Cumulative

Expdr. as on Mar,

2015

Amtreqd for

completion of

scheme

Total Plan for

FY 2015-16



Normal

State Plan

NLCPR

NEC Equit

y Total

Normal

State Plan

NLCPR

NEC Equit

y Total

Normal State Plan

NLCPR k

NEC

Equity Total

CCpurline (Rs. 316.29 lakh is for line bay only)

5 Constn. of 132 KV S/C line Yurembam to Yaingangpokpi

33.710 28.454 5.256 1.934 3.322

3.322

0.000

0.000

6

Installation of 132/33 KV S/S at Kongba (NEC scheme with State Plan support)

21.532 21.468 0.063 0.500 0.500

0.500

0.000

0.000

7 Installation of 132/33 KV S/S at Hundung (Ukhrul) & its associated line

51.300 39.378 11.922 0.500 6.000

6.000 5.420

5.420

0.000

8 Re-stringing of 132 KV line from Loktak to Jiribam

8.022 0.000 8.022 0.400 3.000

3.000 4.500

4.500

0.000

9

Renovation &Modernisation of 132/33 KV sub-station at Yurembam (NEC scheme with State Plan support)

35.412 31.843 3.568 2.261 1.000

1.000 1.600

1.600

0.000

10

Installation of 132/33 KV S/S at Chandel with associated 132 KV line (NLCPR scheme with State Plan support)

31.100 25.720 5.381 3.000 3.000

3.000 2.380

2.380

0.000

11

Augmentation of 132/33 KV S/S at Yaingangpokpi by installing additional 20 MVA transformer

6.870 6.834 0.037 1.000 0.000

0.000

0.000

0.000

45

Sl. No.


Project Cost


Cumulative

Expdr. as on Mar,

2015

Amtreqd for

completion of

scheme

Total Plan for

FY 2015-16



Normal

State Plan

NLCPR

NEC Equit

y Total

Normal

State Plan

NLCPR

NEC Equit

y Total

Normal State Plan

NLCPR k

NEC

Equity Total

12

Renovation &Modernisation of two nos. of 132/33 KV S/S at Yaingangpokpi&Ningthoukhong (NLCPR scheme with State Plan support)

39.021 29.645 9.377 7.447 2.000

2.000

0.000

0.000

13

Renovation &Modernisation of three nos. of 132/33 KV S/S at Kakching, Karong&Churachandpur (NLCPR scheme with State Plan support)

52.930 19.491 33.439 16.772

8.000

8.000 4.000

4.000 4.000

4.000

14

Installation of 132/33 KV S/S at Thanlon with associated line (NLCPR scheme with State Plan support)

109.161 32.651 76.510 22.092 5.000 10.00

0 15.00

0 20.00

0 20.00

0 20.000

20.000

15 Providing of 132 KV Energy Meter

3.500 0.000 3.500 0.500 2.000

2.000 1.000

1.000

0.000

16

Compensatory Aforestation for stringing of transmission line from Yaingangpokpi to Hundung

0.000 0.000 0.000 0.000

0.000

0.000

0.000

17

Compensatory Aforestation for stringing of transmission line from Kakching to Chandel

0.000 0.000 0.000 0.000

0.000

0.000

0.000

18

Installation of 2x20 MVA, 132 KV Sub-station along with the associated 132 Kv LI-LO line & related civils

51.012 1.000 50.012 18.000 5.000

10.000

15.000

5.000

6.000

11.000

6.000

6.000

46

Sl. No.


Project Cost


Cumulative

Expdr. as on Mar,

2015

Amtreqd for

completion of

scheme

Total Plan for

FY 2015-16



Normal

State Plan

NLCPR

NEC Equit

y Total

Normal

State Plan

NLCPR

NEC Equit

y Total

Normal State Plan

NLCPR k

NEC

Equity Total

works at Thoubal (Support for NEC funding)

19

Augmentation of Rengpang 132/33 KV sub-station by installing (3x4.16+1x4.16) MVA, 132/33 KV single phase transformers

10.282 2.000 8.282 4.000 2.000

2.000 1.000

1.000 1.000

1.000

Sub-Total A.1.1 472.16 252.74 219.42 79.41 46.12 18.00 10.00 0.00 74.12 44.90 0.00 6.00 0.00 50.90 31.00 0.00 0.00 0.00 31.00

A.1.2

33 KV System

1

Augmentation of existing 33/11 KV Sub-stations at Yurembam, Mongsangei, Kongba, Keishampat, Lamphel, Iroisemba and Nilakuthi by installing 2x10 MVA (14 nos.)

15.910 0.000 15.910 0.500 5.000

5.000 5.000

5.000 5.000

5.000

2 Upgradation of the installed capacities of 33/11 KV S/Ss

20.050 0.000 20.050 1.000 5.000

5.000 5.000

5.000 5.000

5.000

3

Construction of 33 KV D/C line from Leimakhong to Iroisemba (NLCPR scheme with State Plan support)

12.470 10.695 1.775 0.100 1.770

1.770

0.000

0.000

47

Sl. No.


Project Cost


Cumulative

Expdr. as on Mar,

2015

Amtreqd for

completion of

scheme

Total Plan for

FY 2015-16



Normal

State Plan

NLCPR

NEC Equit

y Total

Normal

State Plan

NLCPR

NEC Equit

y Total

Normal State Plan

NLCPR k

NEC

Equity Total

4

Construction of 33 KV D/C line from Mongsangei to Khumanlampak via Kongba (NLCPR scheme with State Plan support)

23.360 15.487 7.873 1.000 2.000

2.000 2.000

2.000 2.000

2.000

5 Installation of 33 KV S/S at Thanlon (NLCPR scheme with State Plan support)

15.460 15.000 0.460 0.300 0.500

0.500

0.000

0.000

6

Installation of 33/11 KV sub-station at Henglep (NLCPR scheme with State Plan support)

7.051 5.383 1.668 1.208 0.500

0.500

0.000

0.000

7

Installation of 33/11 KV sub-station at Chakpikarong (NLCPR scheme with State Plan support)

11.540 8.527 3.013 1.410 0.500

0.500

0.000

0.000

8 Installation of 33/11 KV (2x10 MVA) S/S at Mantripukhri

9.114 9.050 0.064 0.000 0.000

0.000

0.000

0.000

9 Installation of 33/11 KV (2x5 MVA) S/S at Chingaren

8.690 8.328 0.362 0.100 0.500

0.500

0.000

0.000

10 Installation of 33 KV S/S at Willong (NLCPR scheme with State Plan support)

8.980 8.980 0.000 0.000 -

0.000

0.000

0.000

11 Installation of 33/11 KV (2x1 MVA) S/S at Oinamlong

7.077 6.169 0.909 1.000 -

0.000

0.000

0.000

48

Sl. No.


Project Cost


Cumulative

Expdr. as on Mar,

2015

Amtreqd for

completion of

scheme

Total Plan for

FY 2015-16



Normal

State Plan

NLCPR

NEC Equit

y Total

Normal

State Plan

NLCPR

NEC Equit

y Total

Normal State Plan

NLCPR k

NEC

Equity Total

12

Installation of 33/11 KV (2x3.15 MVA) S/S at Sagolmang (NLCPR scheme with State Plan support)

7.025 6.521 0.503 0.000 0.500

0.500

0.000

0.000

13

Installation of 33/11 KV (2x1 MVA) S/S at Sekmaijin (Support for NLCPR funding)

7.333 6.416 0.917 0.823 0.910

0.910

0.000

0.000

14

Installation of 33/11 KV (2x1 MVA) S/S at UkhrulKhunjao (NLCPR scheme with State Plan support)

9.490 8.596 0.894 0.208 0.700

0.700

0.000

0.000

15

Construction of 33/11 KV S/Ss under APDRP and RGGVY : Land acquisitions of the sub-stations

0.000 0.000 0.000 0.000

0.000

0.000

0.000

16

Installation of 33/11 KV (2x5 MVA) S/S at Chandel (NEC scheme with State Plan support)

4.780 4.401 0.379 0.200 0.370

0.370

0.000

0.000

17

Construction of Line bays, equipment foundation and civil works for Machi and Joupi 33/11 KV sub-stations

2.240 0.000 2.240 0.000 1.000

1.000

0.000

0.000

18 Installation of 33/11 KV S/S at Jessami with associated 33 KV line

14.677 0.000 14.677 0.100 0.500

0.500

0.000

0.000

49

Sl. No.


Project Cost


Cumulative

Expdr. as on Mar,

2015

Amtreqd for

completion of

scheme

Total Plan for

FY 2015-16



Normal

State Plan

NLCPR

NEC Equit

y Total

Normal

State Plan

NLCPR

NEC Equit

y Total

Normal State Plan

NLCPR k

NEC

Equity Total

19 Installation of 33/11 KV S/S at Sinjol with associated 33 KV line

13.538 7.689 5.849 2.000 2.000

2.000

0.000

0.000

20 Installation of 33/11 KV (2x5 MVA) S/S at JNIMS with associated 33 KV line

7.988 7.268 0.721 0.000 0.720

0.720

0.000

0.000

21

Re-stringing & strengthening of 33 KV line from Utlou to Ningthoukhong (20.30 Km.)

1.817 0.000 1.817 0.000 0.900

0.900 0.920

0.920

0.000

22

Installation of 33/11 KV S/S at ThoubalLeishangthem with associated 33 KV line

10.870 5.901 4.969 1.915 1.000

1.000 1.000

1.000 1.000

1.000

23 Erection of 33 KV feeders from Yurembam POWERGRID sub-station

21.824 3.098 18.727 5.000 4.000

4.000 4.000

4.000 5.000

5.000

24

Installation of 2x5 MVA 33/11 KV sub-ststion with associated 33 KV line at Power House site of Loktak Down Stream HE Project (NEC scheme with State Plan support)

13.039 3.738 9.301 2.000 1.000

1.500

2.500 1.000

2.800

3.800 1.000

1.000

25

Installation of 33/11 KV sub-station with associated 33 KV line at Sugnu (NLCPR scheme with State Plan support)

10.303 5.192 5.112 3.440 0.500 1.000

1.500 0.500

0.500

0.000

50

Sl. No.


Project Cost


Cumulative

Expdr. as on Mar,

2015

Amtreqd for

completion of

scheme

Total Plan for

FY 2015-16



Normal

State Plan

NLCPR

NEC Equit

y Total

Normal

State Plan

NLCPR

NEC Equit

y Total

Normal State Plan

NLCPR k

NEC

Equity Total

26

Installation of 33/11 KV sub-station with associated 33 KV line at Khongjom (NLCPR scheme with State Plan support)

9.019 4.953 4.066 3.226 0.500

0.500 0.500

0.500

0.000

27

Installation of 33/11 KV sub-station with associated 33 KV line at Sekmai (NLCPR scheme with State Plan support)

8.698 5.160 3.538 3.173

0.500

0.500

0.000

0.000

28

Installation of 33/11 KV S/S at Gelnel (NLCPR scheme with State Plan support)

7.805 3.892 3.913 2.869 0.500

0.500 0.500

0.500

0.000

29

Installation of 33/11 KV sub-station with associated 33 KV line at NungbiKhullen (NLCPR scheme with State Plan support)

10.455 5.231 5.224 3.440 0.500 1.000

1.500 0.500

0.500

0.000

30

Installation of 33 kV sub-station at Thinkew (NLCPR scheme with State Plan support)

8.457 0.000 8.457 0.000

0.000

0.000

0.000

31 Re-stringing & strengthening of 33 KV lines

11.000 0.000 11.000 2.000 3.000

3.000 3.000

3.000

0.000

Total: A.1.2 320.06 165.67 154.39 37.01 34.37 2.50 1.50 0.00 38.37 23.92 0.00 2.80 0.00 26.72 19.00 0.00 0.00 0.00 19.00

Total: A.1 Ongoing Schemes

792.22

116.42 80.49 20.50 11.50 0.00 112.4

9 68.82 0.00 8.80

77.62 50.00 0.00 0.00 0.00 50.00

A.2 New Schemes

51

Sl. No.


Project Cost


Cumulative

Expdr. as on Mar,

2015

Amtreqd for

completion of

scheme

Total Plan for

FY 2015-16



Normal

State Plan

NLCPR

NEC Equit

y Total

Normal

State Plan

NLCPR

NEC Equit

y Total

Normal State Plan

NLCPR k

NEC

Equity Total

A.2.1

400 KV System

1 Installation of 400 KV Sub-Station at Thoubal

170.474 0.000 170.474 45.729 5.000 35.00

0 40.00

0 5.000

20.000

25.000

40.000 25.00

0 65.000

2

Construction of 400 KV line on D/C towers from Yurembam to Thoubal via Nambol

199.074 0.000 199.074 0.000 15.000 35.00

0 50.00

0 15.00

0 35.00

0 50.00

0 50.000

40.000

90.000

A.2.2

132 KVSystem

0.000

0.000

0.000

1

Compensatory Aforestation for stringing of transmission line from Kakching to Moreh

10.000 0.000 10.000 0.000 3.330

3.330 3.330

3.330 3.330

3.330

2

Compensatory Aforestation for stringing of transmission line from Kheljang to Thanlon

10.000

10.000 0.000 3.000

3.000 3.000

3.000 4.000

4.000

3

Installation of 132/33 KV sub-station at Morehwth erection of associated 132 KV line.

81.630 0.000 81.630 19.182 5.000 10.00

0 15.00

0 5.000

10.000

15.000

10.000

10.000

4

Augmentation of 132/33 KV S/S at Jiribam (Installation of one old 20 MVA transformers from Yurembam)-Phase-II

3.659 0.000 3.659 1.500 1.000

1.000 1.000

1.000

0.000

5

Augmentation of 132/33 KV S/S at Ningthoukhong by installing one addl. 20 MVA transformer

4.987

4.987 0.500 1.000

1.000 1.000

1.000 2.500

2.500

52

Sl. No.


Project Cost


Cumulative

Expdr. as on Mar,

2015

Amtreqd for

completion of

scheme

Total Plan for

FY 2015-16



Normal

State Plan

NLCPR

NEC Equit

y Total

Normal

State Plan

NLCPR

NEC Equit

y Total

Normal State Plan

NLCPR k

NEC

Equity Total

6

Augmentation of 132/33 KV S/S at Kongba by installing one addl. 20 MVA transformer

2.610

2.610 0.500 0.500

0.500 1.000

1.000 1.000

1.000

7

Composite scheme for Development of Transmission & Distribution Network in NER (World Bank loan)

443.420

443.420 0.100 150.00

0 150.0

00 150.0

00 150.0

00 150.000

150.000

8

Stringing of 132 KV line (2nd circuit) from Yaingangpokpi to Kakching via Kongba

25.730

25.730 3.000 7.000

7.000 7.000

7.000 7.000

7.000

9

Erection of 132 KV line (2nd circuit) from Kakching to Churachandpur

11.480 0.000 11.480 7.700 2.000

2.000 2.000

2.000 2.000

2.000

10

Augmentation of 132/33 KV S/S at Rengpang by installing additional 12.5 MVA transformer

17.921

17.921 2.000 5.000

5.000 5.000

5.000 5.000

5.000

11

Construction of 132 KV S/C line (2nd Circuit) on D/C Towers from Leimatak Power House (NHPC) to 132 KV S/S at Ningthoukhong.

18.226

18.226 10.000 3.000

3.000 3.000

3.000 3.000

3.000

12

Installation of 132 KV S/S along with associated line at Elangkhangpokpi, Thoubal District

44.058

44.058 15.000 10.000

10.000

10.000

10.000

10.000

10.000

53

Sl. No.


Project Cost


Cumulative

Expdr. as on Mar,

2015

Amtreqd for

completion of

scheme

Total Plan for

FY 2015-16



Normal

State Plan

NLCPR

NEC Equit

y Total

Normal

State Plan

NLCPR

NEC Equit

y Total

Normal State Plan

NLCPR k

NEC

Equity Total

13

Construction of 132 KV S/C line (3rd Circuit) strung on D/C Towers from 132 KV Yurembam S/S (State) to Yurembam S/S (PGCI).

96.978

96.978 2.000 2.000

2.000 2.500

2.500 2.500

2.500

14

Installation of 1x20 MVA transformer at Yaingangpokpi 132/33 KV sub-station for replacement of old transformer

5.374

5.374 0.000 2.000

2.000 2.000

2.000 2.000

2.000

15

Installation of 2x12.5 MVA, 132 KV S/S along with associated line at Tipaimukh, Churachandpur District

43.289

43.289 5.000 13.000

13.000

13.000

13.000

14.000

14.000

Sub-Total : (A.2.2) 1188.91 0.00 1188.91 112.21 227.83 80.00 0.00 0.00

307.83

228.83

65.00 0.00 0.00 293.8

3 306.33 65.00 0.00 0.00 371.33

Total : (A.2.1 + A.2.2) 1188.91 0.00 1188.91 112.21 227.83 80.00 0.00 0.00

307.83

228.83

65.00 0.00 0.00 293.8

3 306.33 65.00 0.00 0.00 371.33

A.2.3

33 KV System

1 Installation of GIS 33/11 KV S/S at Capitol Project with associated 33 KV line

16.24

16.240 0.001 5.000

5.000 5.000

5.000 6.000

6.000

2 Installation of GIS 33/11 KV S/S at Pisum with associated 33 KV line

13.18

13.180 0.001 5.000

5.000 5.000

5.000 5.000

5.000

3 Installation of 33/11 KV sub-station with associated 33 KV line at Sagolband

8.03

8.030 0.001 3.000

3.000 3.000

3.000 3.000

3.000

54

Sl. No.


Project Cost


Cumulative

Expdr. as on Mar,

2015

Amtreqd for

completion of

scheme

Total Plan for

FY 2015-16



Normal

State Plan

NLCPR

NEC Equit

y Total

Normal

State Plan

NLCPR

NEC Equit

y Total

Normal State Plan

NLCPR k

NEC

Equity Total

4 Installation of 33/11 KV sub-station with associated 33 KV line at Hiyangthang

8.68

8.680 0.000 3.000

3.000 3.000

3.000 3.000

3.000

5 Installation of 33/11 KV sub-station with associated 33 KV line at Gumnom

9.53

9.526 2.042 1.000 1.500

2.500 1.500 1.500

3.000 1.500

1.500

6 Providing of 33 KV &11 KV feeder meters.

5.00

5.000 1.000 1.500

1.500 1.500

1.500 1.500

1.500

7 Renovation of 33/11 KV S/S at Khoupum

1.00

1.000 0.150 0.500

0.500 0.500

0.500 0.500

0.500

8 Installation of 33/11 KV S/S at Moirangpali with associated 33 KV line

10.45

10.450 0.050 3.000

3.000 3.000

3.000 3.000

3.000

9 Installation of 33/11 KV S/S at Senapati with associated 33 KV line

9.98

9.980 0.000 3.000

3.000 3.000

3.000 3.000

3.000

10

Augmentation of 33/11 KV Sub-stations at Moreh, Karong, Nambol, Bishnupur, Ningthoukhong, MoirangKhunou, Kangpokpi and Leimakhong.

18.77

18.770 0.001 7.000

7.000 7.000

7.000 7.000

7.000

11 Installation of 33/11 KV S/S at Phungyar with associated 33 KV line

10.45 0.000 10.452 2.000 3.000

3.000 3.000

3.000 3.000

3.000

12 Installation of 33/11 KV S/S at KasomKhullen with associated 33 KV line

10.42 0.000 10.423 2.000 3.000

3.000 3.000

3.000 3.000

3.000

13 Installation of 33/11 KV S/S at Gamphazol with associated 33 KV line

7.76 0.000 7.763 2.000 2.000

2.000 2.000

2.000 2.000

2.000

55

Sl. No.


Project Cost


Cumulative

Expdr. as on Mar,

2015

Amtreqd for

completion of

scheme

Total Plan for

FY 2015-16



Normal

State Plan

NLCPR

NEC Equit

y Total

Normal

State Plan

NLCPR

NEC Equit

y Total

Normal State Plan

NLCPR k

NEC

Equity Total

14 Installation of 33/11 KV S/S at Mayangkhang with associated 33 KV line

9.63 0.000 9.631 1.500 2.500

2.500 2.500

2.500 2.500

2.500

15 Installation of 33/11 KV S/S at Mao with associated 33 KV line

9.79 0.000 9.786 1.500 3.000

3.000 3.000

3.000 3.000

3.000

16 Installation of 33/11 KV S/S at Longpi with associated 33 KV line

9.00

9.000 0.050 3.000

3.000 3.000

3.000 3.000

3.000

17 Installation of 33/11 KV S/S at Nungleiband with associated 33 KV line

9.00

9.000 0.050 3.000

3.000 3.000

3.000 3.000

3.000

18 Installation of 33/11 KV S/S at Mualnuam with associated 33 KV line

12.15

12.150 0.050 4.000

4.000 4.000

4.000 4.000

4.000

19

Aug. of 33/11 kv S/S at Kangpokpi with Assosiated 33 kv line 1x3.15- 2x3.15

1.52

1.000

1.000 1.000

1.000 1.000

1.000

20 Aug. of 33/11 kv S/S at Karong with Assosiated 33 kv line 2x5

1.76

1.000

1.000 1.000

1.000 1.000

1.000

21 Aug. of 33/11 kv S/S at Wangoi with Assosiated 33 kv line 2x6

10.60

4.000

4.000 4.000

4.000 4.000

4.000

22 Aug. of 33/11 kv S/S at Wangjing with Assosiated 33 kv line 2x7

10.60

4.000

4.000 4.000

4.000 4.000

4.000

23 Aug. of 33/11 kv S/S at Yairipok with Assosiated 33 kv line 2x8

10.60

4.000

4.000 4.000

4.000 4.000

4.000

56

Sl. No.


Project Cost


Cumulative

Expdr. as on Mar,

2015

Amtreqd for

completion of

scheme

Total Plan for

FY 2015-16



Normal

State Plan

NLCPR

NEC Equit

y Total

Normal

State Plan

NLCPR

NEC Equit

y Total

Normal State Plan

NLCPR k

NEC

Equity Total

24 Aug. of 33/11 kv S/S at Heirok with Assosiated 33 kv line 2x9

10.18

4.000

4.000 4.000

4.000 4.000

4.000

25 33 kv and lines Paogi (Ukhrul)

9.00

3.000

3.000 3.000

3.000 3.000

3.000

26 33 kv& lines Thuging (Senapati)

9.00

3.000

3.000 3.000

3.000 3.000

3.000

27 R&M of 33 kv s/s Phase I 150.00

50.000

50.000

50.000

50.000

50.000

50.000

Sub-Total : A.2.3 392.33 0.00 179.06 12.40 129.50 1.50 0.00 0.00

131.00

130.00

1.50 0.00 0.00 131.5

0 131.00 0.00 0.00 0.00 131.00

Total: A.2 (New Schemes) 1581.23

124.61 357.33 81.50 0.00 0.00

438.83

358.83

66.50 0.00 0.00 425.3

3 437.33 65.00 0.00 0.00 502.33

Total : T&D (II=A.1+A.2) 2373.45

241.02 437.82

102.00

11.50 0.00 551.3

2 427.6

5 66.50 8.80 0.00

502.95

487.33 65.00 0.00 0.00 552.33

III Misc. Schemes

1 Survey & Investigation of Irang(NEC scheme with State Plan support)

1.866

1.866 0.001

0.000

0.000

0.00

2 Survey & Investigation of Tuivai(NEC scheme with State Plan support)

3.120

3.120 0.001

0.000

0.000

0.00

3 Survey & Investigation of MaklangTuyungbi

4.326

4.326 0.001

0.000

0.000

0.00

4 Survey & Investigation of Nungleiband

4.576

4.576 0.001

0.000

0.000

0.00

5 Establishment of State Load Despatch Centre (SLDC) / Information

90.000 0.000 90.000 7.000 30.000

30.000

30.000

30.000

30.000

30.00

57

Sl. No.


Project Cost


Cumulative

Expdr. as on Mar,

2015

Amtreqd for

completion of

scheme

Total Plan for

FY 2015-16



Normal

State Plan

NLCPR

NEC Equit

y Total

Normal

State Plan

NLCPR

NEC Equit

y Total

Normal State Plan

NLCPR k

NEC

Equity Total

Technology (IT)

6 Construction of Administrative Building

9.000

1.500 3.000

3.000 3.000

3.000 3.000

3.00

7

Construction of Divisional & Sub-Divisional office buildings, quarters, complain rooms, etc.

7.500 0.000

2.500 2.500

2.500 2.500

2.500 2.500

2.50

8 Purchase of vehicle

0.700 1.500

1.500 1.500

1.500 1.500

1.50

9

Consultancy fee for preparation of bidding documents for allotment of six HE projects

0.100

0.000

0.000

0.00

10 JERC tariff petition

0.150

0.000

0.000

0.00

11 Training

0.100

0.000

0.000

0.00

12 Meetings and seminars

0.100

0.000

0.000

0.00

13 Consultancy fee for Corportisation

0.500 2.500

2.500 2.500

2.500 2.500

2.50

14 Advertisement & printing

0.100

0.000

0.000

0.00

15 Installation of Computer / Computerisation

0.310 0.500

0.500 0.500

0.500 0.500

0.50

Total : III 120.39 0.00 103.89 13.06 40.00 0.00 0.00 0.00 40.00 40.00 0.00 0.00 0.00 40.00 40.00 0.00 0.00 0.00 40.00

IV Payment to Muster-roll and WC Employees

0.00 5.27 7.00

7.00 7.00

7.00 7.00

7.00

Total: Normal Plan I+II+III+IV)

11500.40

418.41 10852.2

2 261.35 484.82 102.0 11.50 10.00

608.32

474.65

66.50 8.80 20.00 569.9

5 534.33 65.00 0.00 30.00 629.33


58

6. For FY 2016-17, 2017-18 and FY 2018-19 the MSPCL has proposed a plan capital

expenditure of Rs. 608.32 crores, 569.95 crores and 629.33 crores respectively

under various existing and new schemes, as given above. In FY 2015-16,

Rs.261.36 crores is expected to be spent on capital investment schemes. In the

current year till September'14, around Rs. 102.58 crores has been spent. The

scheme wise progress of ongoing schemes is given in the APR section

Funding of Capital Investment Plan

7. It may be noted that funding for mostof the schemes except that of Loktak

Downstream project, are covered by grants from State Government or grants

from Central Government bodies like NLCPR and NEC. As such, there are no

loans or equity for funding of such schemes. For all these schemes, 100% of the

funding is covered by grants from State Government or Central Government.

These schemes include Normal State Government plan schemes, NLCPR

funding and NEC funding.

8. Loktak Downstream Hydroelectric Corporation Limited, is a Joint Venture

Company(JVC) between NHPC and Government of Manipur with equity

participation of 74:26. The joint venture was incorporated on 23/10/2009 to

execute the Loktak Downstream Hydroelectric Project (66 MW) in Tamenglong

District. The project schedule is to complete by early 13th Plan. The State will

purchase the whole power generated from the project excluding 12% free

power. On this scheme, as part of equity contribution from Government of

Manipur, a contribution of Rs.10 crores, 20 crores and 30 crores is expected in

FY 2016-17, FY 2017-18 and FY 2018-19 respectively

Capitalization

9. The capitalization of the above mentioned scheme in a consolidated manner

has been considered at 30% of the planned capital expenditure in the same

year, 40% in the second year and 30% in the third year. In addition to that, as

on 31/03/2015, huge amount of Rs. 496 crores of capital work in progress

which is expected to be capitalized in a proportion of 40%, 30%, 20% and 10%

in FY 2015-16, FY 2016-17, FY 2017-18 and FY 2018-19 respectively.A brief

summary of the capital expenditure and capitalization for FY 2015-16 and for

entire MYT period is summarized in Table below:

59

Table 7: Capital Expenditure &Proposed Capitalization

Particulars (Rs. Crs) FY 2014-15





Capital Expenditure 113.29 261.35 608.32 569.95 629.33

Capitalization during the Year 57.99 329.35 461.75 586.53 646.18

CWIP 469.06 401.07 547.65 531.06 514.21

Gross Fixed Assets (GFA)

1. Based on the draft opening balance sheet as on 31 March '2015 and the

projected capitalization shown below, the value for gross fixed assets have

been taken to project GFA for FY 2015-16 and from FY 2016-17 to FY 2018-19.

2. The opening value of GFA for MSPCLhas been increased by the above

mentioned capitalization in FY 2015-16 and FY 2016-17, FY 2017-18 and FY

2018-19. The total capitalization has been divided among the asset categories

based on the existing proportion as per the opening asset break up. The same is

tabulated here:

Table 8: Gross Fixed Assets (Rs. Crores)

Sl. no.

Category of the Assets 31.03.2015 31.03.2016 31.03.2017 31.03.2017 31.03.2017

1 Land 0.00 0.00 0.00 0.00 0.00

2 Plant & Machinery 168.78 454.37 854.76 1363.36 1923.68

3 Building 25.24 67.96 127.85 203.92 287.73

4 Furniture &Fitings 0.23 0.61 1.14 1.82 2.57

5 Computer 0.01 0.01 0.03 0.04 0.06

6 Office Equipments 0.08 0.22 0.41 0.66 0.93

7 Vehicle 0.30 0.82 1.54 2.46 3.48

8 TOTAL 194.64 523.99 985.73 1572.27 2218.45

3. Depreciation

60

1. Depreciation is charged on the basis of straight-line method, on the GFA in use

at the beginning of the year and addition in assets during the financial year.

The depreciation is based on the original cost of the Gross Fixed Assets.


61

Table 9: Depreciation (Rs. crores)

Sl No

.

Name of Asset

Depreciation rate

2015-16 Estimated

2016-17 Projected

2017-18 Projected

2018-19 Projected

Opening Additio

n Depreci

ation Closin

g Openin

g Additi

on Depreciatio

n Closin

g Openin

g Additio

n Depreciation

Closing Openin

g Additi

on

Depreciati

on Closing

1 Land 0.00% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00

2 Plant &

Machinery 5.28% 168.78 285.59 16.45 454.37 454.37 400.39 34.56 854.76 854.76 508.60 58.56 1363.36 1363.36 560.3 86.78 1923.68

2 Building 3.34% 25.24 42.72 1.56 67.96 67.96 59.89 3.27 127.85 127.85 76.07 5.54 203.92 203.92 83.8 8.21 287.73

3 Furniture &Fitings

6.33% 0.23 0.38 0.03 0.61 0.61 0.53 0.06 1.14 1.14 0.68 0.09 1.82 1.82 0.7 0.14 2.57

3 Computer 15.00% 0.01 0.01 0.00 0.01 0.01 0.01 0.00 0.03 0.03 0.02 0.01 0.04 0.04 0.0 0.01 0.06

4 Office

Equipments

6.33% 0.08 0.14 0.01 0.22 0.22 0.19 0.02 0.41 0.41 0.25 0.03 0.66 0.66 0.3 0.05 0.93

4 Vehicle 9.50% 0.30 0.52 0.05 0.82 0.82 0.72 0.11 1.54 1.54 0.92 0.19 2.46 2.46 1.0 0.28 3.48

Total

194.64 329.35 18.10 523.99 523.99 461.75 38.02 985.73 985.73 586.53 64.42 1572.27 1572.27 646.18 95.47 2218.45

Percentage of assets not funded through

grants 1%

Depreciation to be

charged 0.24

0.51

0.87

1.29


62

2. Further, as per the guidelines of Institute of Chartered Accountant of India

(ICAI) which is Accounting Standard 12, depreciation should not be claimed as

net expenditure for assets funded through government grants. In MSPCL, as

mentioned earlier, most of the funding is through government grants,

depreciation shall not be included under ARR on the assets funded through

government grants. This is because MSPCLis not required to repay or recover

the amount received as grants from the Government.

3. It may be noted here that the State of Manipur has been granted a special status

similar to that of other North-Eastern States. Government of India provides

special assistance for the development of infrastructure facilities in these States.

Accordingly, the infrastructure projects of the State of Manipur, including

those of MSPCL are being supported by issue of Grants through various

Central Government Ministries and Agencies like NLCPR, Ministry of

Development of North Eastern Region (DONER) and North Eastern Council

(NEC).

4. Out of the existing capital investment schemes, only for Loktak, MSPCL is not

funding the schemes through grant but through equity or loan. Last year,

MSPCL had expected the World Bank projects to be funded through a small

component of 10%. But after detailed discussion with all stakeholders, it has

now been decided that the World Bank projects shall be undertaken directly by

Government of India and the assets after completion shall be handed over to

MSPCL. As such, there shall be no liability of loan for MSPCL on account of

World Bank projects.

4. Interest & Finance Costs

a. Interest on Working Capital Borrowings

1. As per the JERC MYT Regulations 2014, MSPCL is entitled to claim interest on

working capital as per the norms provided. The norms state that the working

capital shall cover the following:-

(i) Receivables for two months calculated on NATAF

63

(ii) Maintenance spares @ 15% of O&M

(iii) O&M expenses for 1 month

2. The interest rate has been assumed to be 14.75% based on the latest Prime

Lending Rate of SBI, as per regulations. The information regarding the working

capital for the current and ensuing years is as follows:

Table 10 Interest on Working Capital (Rs. Lakhs)

Sl.no Particulars FY 2014-15

FY 2015-16 FY 2016-17 FY 2017-18 FY 2018-19

1 Receivables for two

months calculated on NATAF

4.89 5.13 8.66 13.97 18.90

2 Maintenance spares @

15% of O&M 4.50 5.80 7.99 12.11 15.60

3 O&M expenses for 1

month 2.50 3.22 4.44 6.73 8.67

4 Total Working Capital 11.89 14.15 21.10 32.81 43.17

5 Rate of Interest 14.75% 14.75% 14.75% 14.75% 14.75%

6 Interest on Working

Capital 1.75 2.09 3.11 4.84 6.37

5. Return on Equity

1. As per the JERC MYT Regulations 2014, MSPCL is entitled for a Return on

Equity (RoE) of 19.38 %after grossing up the tax rate of 20.01% in 15.5%. As

such, the average paid up equity in FY 2016-17, FY 2017-18 and FY 2018-

19aretaken as around Rs. 20.05 Crore, 40.05crores Crore and 70.05 Crores

respectively. On average paid up equity, return on equity is claimed at the rate

of 19.38% as given in the Table below

Loan Details Unit

2014-15 2015-16 2016-17 2017-18 2018-19

Actual Estimated Projected

1 Average Equity Rs Crores 10.05 10.05 20.05 40.05 70.05

2 Rate of Return on Equity % 15.5% 15.5% 15.5% 15.5% 15.5%

4 Return on Equity Rs Crores 1.56 1.56 2.33 4.66 8.53

3 Income Tax Rs Crores 0.00 0.39 0.78 1.55 2.72

4 Total Rs Crores 1.56 1.95 3.11 6.21 11.25

6. Non-Tariff & Other Income

64

1. The non tariff income for MSPCL is mainly on account of transmission charges

realized for short term power purchase or sale by the distribution licensee.

These charges are paid to MSPCL for use of intra state transmission system for

short term power purchase or sale on the basis of CERC regulations for Short

Term Open Access'2008 and subsequent amendments thereof.

2. Apart from the above, income is also earned as interest from bank accounts

used for managing the account of short term open access charges and also on

account of Agency charges.

3. For projecting the non-tariff income for MYT period, income of SLDC has been

proportionately increased year on year with the ratio energy projected to be

purchased or sold under bilateral transactions or trading through exchange.

Table 11: Non-tariff Income

Particulars (Rs. Crs) FY 2014-15 FY 2015-

16 FY 2016-

17 FY 2017-

18 FY 2018-

19

Actuals Estimates Projected Estimates Projected

SLDC Income 1.55 7.54 2.95 3.09 3.09

Agency Charges 1.6 3.04 3.22 3.41 3.62

Bank Interest 0.67 0.71 0.75 0.80 0.85

Other Income 0.18 0.19 0.20 0.21 0.23

Total 4.00 11.48 7.13 7.52 7.78

7. Aggregate Revenue Requirement

1. Aggregate Revenue Requirement for FY 2016-17, FY 2017-17 and FY 2018-19

areestimated to be Rs 51.98 Crores, 83.80 Crores and 113.42 Crores

respectively

Table 12: Aggregate Revenue Requirement

Annual Revenue Requirement (Rs Lakhs) FY 2016-17 FY 2017-18 FY 2018-19

Projected Projected Projected

R&M Expense 7.68 12.50 17.99

Employee Expenses 42.38 64.89 82.48

65

Annual Revenue Requirement (Rs Lakhs) FY 2016-17 FY 2017-18 FY 2018-19

Projected Projected Projected

A&G Expense 3.22 3.38 3.54

Depreciation 0.51 0.87 1.29

Interest on Loans 0.00 0.00 0.00

Return on Capital Employed 2.33 4.66 8.53

Interest on Working Capital 3.11 4.84 6.37

Income Tax 0.78 1.55 2.72

Less: Non Tariff Income 7.13 7.52 7.78

Less: Income from Other Business 0.00 0.00 0.00

Less: Expenses Capitalised 0.91 1.37 1.72

Total 51.98 83.80 113.42

8. Norms of Operation

1. Target availability: As per JERC MYT regulations' 2014, the target availability

proposed for FY 2016-17, FY 2017-18 and FY 2018-19 for MSPCL is 98%. It is

proposed that transmission ARR shall be recovered on pro-rata basis if target

availability is below 98%.

2. Transmission loss: MSPCL would like to submit that currently all the input and

output points of transmission system are not metered and all the out-going 11 kV

feeders as well as incoming 132 kV lines in the state are not metered. As such, the

transmission losses in the system cannot be measured for MSPCL at this point of

time. MSPCL is making all efforts to complete the metering of all Import and

Export points by the end this Financial Year. IT has placed the purchase order for

procurement of 132 and 33 kv meters.

However, In the absence of any base level of losses, the Commission had approved

intra-state transmission loss of 3.6% on estimated basis. MSPCL requests the

Commission to approve the transmission loss form next year for the tariff of FY

2017-18 onwards.

66

9. Recovery of transmission ARR and transmission tariff proposal for FY

2016-17

1. The total ARR for the FY 2016-17 is proposed to beRs.51.98 Crores. As per JERC

(Multi Year Tariff) Regulations, 2014, the transmission ARR should be recovered as

fixed monthly charges from all users of long term transmission customer based on

the share of average contracted transmission capacity in the total transmission

capacity. Also, in case the target availability is below normative availability of 98%,

then the transmission ARR shall be recovered on pro-rata basis.

2. Currently, MSPCL has only one long term transmission customer which is the

distribution licensee i.e MSPDCL. AS such, MSPCL has to recover the entire

transmission ARR as fixed monthly charges from MSPDCL.

Table 13 Transmission Tariff

Sl. No. Particulars Amount

1

Transmission ARR to be recovered (if

availability is equal or more than the

normative availability)

RS. 51.98 Crores

2 Transmission Tariff for MSPDCL as Rs.

Lakhs/month in FY 2016-17 Rs. 4.33 Crores Per Month

3 Average Contracted Transmission

Capacity for MSPDCL in FY FY 2016-17 218.22 MW

4

Transmission Tariff as per MW of

contracted capacity for long term

transmission users

Rs. 1.98 Lakhs per Monthper

MW of contracted capacity

3. Rebate:As per per JERC (Multi Year Tariff) Regulations, 2014, for payment of bills

of transmission charges through letter of credit on presentation, a rebate of 2%

shall be allowed. Where payments are made subsequently, through opening of

letter of credit or otherwise, but within a period of one month of presentation of

bills by the transmission licensee, a rebate of 1% shall be allowed.

4. Late payment surcharge: As per per JERC (Multi Year Tariff) Regulations, 2014, in

case the payment of bills of capacity charges and energy charges by beneficiary

(ies) is delayed beyond a period of one month from the date of billing, late

payment surcharge at the rate of 1.25% per month shall be levied.


67

Chapter 4: Compliance on Directives

The Hon’ble Commission vide Tariff Order dated 28th February, 2014 had issued a set

of directives to be followed by MSPCL to comply with the JERC regulations and

standards.

In line with the directives, MSPCL has been taken several steps to comply with the

directives. The purpose of this section is to appraise the Hon’ble Commission on

progress made by MSPCL on this matter since the issuance of the aforesaid tariff

order.

Sr. No.

Directive Compliance Status

1 MSPCL was directed to

prepare separate annual

accounts such as balance

sheet, profit and loss account

and relevant schedules and

statements, every year for

regulatory purpose and

submit to the Commission

duly got them audited

After the restructuring, the two Companies

MSPCL and MSPDCL have been

incorporatedand started functioniningseperately

from February 2014. The seperate account

statement for FY 2013-14 for both the entitities

have been prepared and submitted to the

Commission. MSPCL has also completed the

compilation of account statements for FY 2014-

15 and has attached the same with this petition.

2 Maintenance of asset and

depreciation registers

The asset register for MSPCL has been finalized

and submitted to the Commission based on the

transfer scheme notified by the Government of

Manipur.

3 MSPCL should ensure timely

completion of projects and

schemes

MSPCL endeavours to complete in time but got

delayed due to force majeure conditions like

strikes, law and order, untimely monsoons,

transportation bottlenecks etc. In spite of all this

MSPCL is trying hard to ensure timely

completion of projects and schemes. In the

current FY 2015-16, MSPCL has been able to

complete a number of projects and has been able

to capitalize around Rs.330 crores of assets, the

details of which are provided in this petition.

68

Sr. No.


4 Annual investment plan shall

be submitted to the

Commission and necessary

approval of Commission

shall be obtained for all major

capital works costing Rs. 5

crores or more , before

execution of the works

The annual investment plan is being submitted

every year with the ARR and Tariff Petition to

the Hon'ble Commission. In the present petition

MSPCL is submitting the annual investment

plan of FY 16-17 to FY 18-19 along with the

revised plan of FY 2015-16 to the Commission.

All the major capital investment schemes are

being undertaken by MSPCL with the prior

approval of State Government and as per the

approved schemes of State Government and

Central Government. Most of capital investment

schemes are being funded entirely by grants

from the State Government and as such are not

recovered through tariff from consumers.

5 Concerned Transmission and Distribution companies are directed to comply all those directives issued in tariff Order 2012-13 which are not fully complied with within the time frame specified in para 8.2 above

All the directives will be complied

appropriately by MSPCL and the status report is

submitted here.

6 Transmission losses are not arrived based on proper meter readings. It is reported that metering arrangement is not complete. Losses are estimated and reported at 3.6%. Losses at different voltages shall be arrived from meter readings taken at different input points. Meters of appropriate class shall be provided. MSPCL is in charge of network of 33 kV and above voltages. Meters shall be provided at sending end and receiving end of all feeders of 33 kV and above voltages. From the meter readings losses at different voltages 33 kV and above voltages and

MSPCL is in the process of providing meters for

appropriate class and accuracy at all its iinput

and export points, which shall enable accurate

calculation of voltage wise transmission losses.

The scheme of providing meters at 132 kV and

33 kV has been incorporated in the capital

investment plan submitted above. However,

MSPCL requests the Commission to provide

more time i.e. till FY 2018-19 to complete all

metering as per scheme.

69

Sr. No.


total system losses shall be arrived and provided for the next Tariff Order for FY 2016-17. Quarterly reports shall be furnished to the Commission on progress of providing meters.

7 As verified from capital investment plan, huge amount is contemplated for improvement of 33 kV systems. The MSPCL is directed to plan for completion of all works well within the targeted dates. Quarterly report on progress achievement may be submitted.

MSPCL endeavours to complete in time but got

delayed due to force majeure conditions like

strikes, law and order, untimely monsoons,

transportation bottlenecks etc. In spite of all this

MSPCL is trying hard to ensure timely

completion of projects and schemes. In the

current FY 2015-16, MSPCL has been able to

complete a number of projects and has been able

to capitalize around Rs.330 crores of assets, the

details of which are provided in this petition.

8 The MSPCL is directed to submit the next ARR & Tariff Petition under MYT for the period FY 2016-17 to FY 2018-19 along with APR for FY 2015-16 within the stipulated time.

The directive is complied with under this

petition.

70

Prayer

1. MSPCL requests the Hon’ble Commission to:

Admit the Aggregate Revenue Requirement of FY 2016-17 to FY 2018-19

and the Transmission Tariff Proposal for FY 16-17 as submitted herewith.

Admit the Annual Performance Review of FY 2015-16,

Condone any inadvertent omissions/ errors/ shortcomings and permit the

Petitioner to add/ change/ modify/ alter this filing and make further

submissions as may be required at a future date.

Permit submission of any additional information required by the

Commission during the processing of this petition.

And pass such other and further orders as are deemed fit and proper in the

facts and circumstances of the case,

71

Annual Revenue Requirement Summary

F1

Rs Crores

Form 2014-15 2015-16 2016-17 2017-18 2018-19

Actual Estimated Projected Projected Projected

1 Energy Available (MU) 788.71 782.35 1051.44 1146.98 1146.98

2 Energy Transmitted (MU) 3 Transmission Loss % A Capacity Charges (Annual Fixed Charges)

1 O&M expenses

a R&M Expense F18 3.93 4.00 7.68 12.50 17.99

b Employee Expenses F19 24.18 31.60 42.38 64.89 82.48

c A&G Expense F20 2.93 3.07 3.22 3.38 3.54

2 Depreciation 0 5.39 0.24 0.51 0.87 1.29

3 Interest on Loans 0 0.00 0.00 0.00 0.00 0.00

4 Return on Capital Employed 0 1.56 1.56 2.33 4.66 8.53

5 Interest on Working Capital F25 1.95 2.09 3.11 4.84 6.37

6 Income Tax F29 0.00 0.39 0.78 1.55 2.72

7 Less: Non Tariff Income F26 4.00 11.48 7.13 7.52 7.78

8 Less: Income from Other Business F27 0.00 0.00 0.00 0.00 0.00

9 Less: Expenses Capitalised F28 0.00 0.69 0.91 1.37 1.72

Total 35.94 30.78 51.98 83.80 113.42

72

Projection of Sales, Connected Load and Demand

Form No: F1a

A) Projection of sales

(MU)

Sl no.

Name of utility to whom energy sold

2014-15 2015-16 2015-16 2016-17 2017-18 2018-19

Till August 2015

Estimated Projected

1 MSPDCL 442.29 188.40 485.03 704.43 825.79 848.73

TOTAL 442.29 188.40 485.03 704.43 825.79 848.73

B) Projection of Connected Load (in

KW)

Sl no.


2014-15 2015-16 2015-16 2016-17 2017-18 2018-19

Till September

2015

Estimated Projected

1 MSPDCL 451479 460541 469602 495694 523235 552306

TOTAL 451479 460541 469602 495694 523235 552306

C) Projection of Maximum or Peak Demand (in MW)

(Unrestricted)

Sl no.


2014-15 2015-16 2015-16 2016-17 2017-18 2018-19

Till September

2015

Estimated Projected

1 MSPDCL 158 162 170 200 240 260

TOTAL 158.00 162.00 170.00 200.00 240.00 260.00

73

Details of Transmission Lines and Substations Form No: F2

Transmission Lines

No Name of line Type of line AC/ HVDC

S/C or D/C

No. of Sub-conductors

Voltage level kV

Line length Ckt.-Km.

Date of Commercial operation

Transmission Division No.- I

1 Yurembam to Mongsangei AC D/C 33 KV 8.136 Km 2002

2 Yurembam to KhumanLampak via Iroishemba

AC D/C 33KV 13.478 Km 1999

3 Kongba to khumanLampak AC D/C 33KV 11.00 Km 1982

4 Yurembam to MayangImphal AC S/C 33KV 23.80 Km 1982

5 Yurembam to Ningthoukhong AC S/C 33KV 23.80 Km 1982

6 Ningthoukhong to Churchandpur AC S/C 33KV 27.28 Km 1983

7 Mongsangei to Kakwa AC S/C 33KV 5.00 Km 2012

8 SinamChingin to Lamphel AC D/C 33KV 3.5 Km 1994

9 Thoubal to Kongba AC S/C 33KV 15.00 Km 1987

10 KhumanLampak to Imphal Power House AC S/C 33KV 3.50 Km 1994

11 Moirang to MoirangKhunou AC S/C 33KV 6.50 Km 1994

12 Yurembam to Imphal Airport AC S/C 33KV 7.00 Km 2002

13 Churchandpur to Thinkeu AC S/C 33KV 38.00 Km 2011

14 Thinkeu to Thanlon AC S/C 33KV 75.00 Km 2013

15 Churchandpur to Singhat AC S/C 33KV 38.50 Km

16 Leimatak to Ningthoukhong AC S/C 132 KV 10.50 Km 1990

17 Ningthoukhong to Yurembam AC S/C 132 KV 27.50 Km 1981

18 Yaingangpokpi to Kongba( Single Strung) AC S/C 132 KV 32.284 Km 2012

19 Kongba to Kakching (Single Strung) AC S/C 132 KV 44.953 Km 2012

20 Ningthoukhong to Churchandpur AC D/C 132 KV 23.016 Km 1995

Transmission Division No.- II

74


Transmission Lines


S/C or D/C


Voltage level kV



1 Yurembam to Noney AC S/C 33KV 34.50 Km 2005

2 Yurembam to Leimakhong AC S/C 33KV 20.00 Km 1984

3 Leimakhong to Kangpokpi AC S/C 33KV 35.00 Km

4 Kangpokpi to Tadubi via Karong AC S/C 33KV 50.00 Km 1994

5 Maram to Lakhamai AC S/C 33KV 40.00 Km 2009

6 Kangpokpi to Tamei AC S/C 33KV 50.00 Km 2011

7 Tamelong to Tousem AC S/C 33KV 42.00 Km 2011

8 Leimakhong to Nilakuthi AC S/C 33KV 9.50 Km

9 Yaingangpokpi to KhumanLampak via Napetpalli (18.40+ 10.00)

AC S/C 33KV 28.40 Km

10 Napetpalli to Saikul AC S/C 33KV 35.00 Km 2003

11 KhumanLampak to Nilakuthi AC S/C 33KV 8.50 Km

12 Yaingangpokpi to Hudung via Litan (12 + 20) AC S/C 33KV 32.00 Km

13 Hundung to Tolloi AC S/C 33KV 28.00 Km 1996

14 Tolloi to Namarei AC S/C 33KV 43.00 Km 2009

15 Namarei to Jessami AC S/C 33KV 50.00 Km 2010

16 Hundung to Kamjong AC S/C 33KV 56.00 Km 1997

17 Kheljang (Ccpur) to Singhat AC S/C 33KV 38.50 Km 2007

18 Jiribam to Shivapurikhan AC S/C 33KV 43.00 Km 2011

19 Yurembam to mao via Karong AC S/C 132 KV 91.375 Km 1981

20 Looping in-Looping Out at Karong AC S/C 132 KV 1.155 Km 1981

21 Yurembam to Yaingangpokpi AC S/C 132 KV 41.362 Km 1993

22 Leimatak to Rengpang AC S/C 132 KV 35.00 Km 1981

23 Rengpang to Jiribam AC S/C 132 KV 47.40 Km 1981

75


Transmission Lines


S/C or D/C


Voltage level kV



24 Looping in-Looping Out at Rengpang AC D/C 132 KV 4.8 Km 2011

25 Looping in-Looping Out at Jiribam AC S/C 132 KV 0.96 Km 2009

Transmission Division No.- III

1 Kakching to New Chayang AC S/C 33KV 18.40 Km 1989

2 Kakching to MayangImphal AC S/C 33KV 19.00 Km 1985

3 Kakching to Wangjing AC S/C 33KV 7.00Km 1994

4 Kakching to Thoubal AC S/C 33KV 22.00 Km 1994

5 Kakching to Tengnoupal AC S/C 33KV 27.00 Km 1993

6 Kakching to Moreh AC S/C 33KV 35.00 Km 2004

7 New Chayang to Chakpikarong AC D/C 33KV 6.00 Km 2015

8 (Li-Lo) AC D/C 33KV 6.00 Km 2014

9 Kakchinf to Churachanpur AC S/C 132 KV 37.858 Km 1999

10 Kakching to Chandel AC S/C 132 KV 16.065 Km 2015

Substations

No Name of Sub-station Type of Substation

Conventional/ GIS

Voltage level kV

No. of transformers

/ Reactors/ SVC etc

(with capacity)

No. of Bays


Covered in this petition (Yes/No)

1 132/33/11 KV S/S, Karong Conventional 132 KV 2x20 MVA 5 18-01-1997, 25-03-2011(2nd TFR)

33 KV 1x5 MVA 8

2 132/33/11 KV S/S, Yaingangpokpi Conventional 132 KV 2X20 MVA 8 01-08-1992, 01-07-

76


Transmission Lines


S/C or D/C


Voltage level kV



1993(2nd TFR)

33 KV 1X1 MVA 7

3 33/11 KV S/S, Maram Conventional 33 KV 1X3.15 MVA 5 14/01/2006

4 33/11 KV S/S, Tadubi Conventional 33 KV 1X3.15 MVA 4 09/07/1993

5 33/11 KV S/S, Lakhamai Conventional 33 KV 2X1 MVA 4 16/01/2010

6 33/11 KV S/S, Kangpokpi Conventional 33 KV 1X3.15 MVA 4 15/02/1992

7 33/11 KV S/S, Leimakhong Conventional 33 KV 1X3 MVA 4 01/04/1979

8 33/11 KV S/S, Willong Conventional 33 KV 2X2.5 MVA 4 20/02/2015

9 33/11 KV S/S, Litan Conventional 33 KV 1X3.15 MVA 4 22/12/1983

10 33/11 KV S/S, Hundung Conventional 33 KV 2X3.15 MVA 5 12/06/1989

11 33/11 KV S/S, Tolloi Conventional 33 KV 1X1 MVA 3 11/05/2005

12 33/11 KV S/S, Kamjong Conventional 33 KV 1X3.15 MVA 4 01/07/2002

13 33/11 KV S/S, Namarei Conventional 33 KV 2X1 MVA 4 16/01/2010

14 33/11 KV S/S, Jessami Conventional 33 KV 2X2.5 MVA 4 02/11/2011

15 33/11 KV S/S, Thoubal Conventional 33 KV 2X5 MVA 4 06-10-1987, 18-04-1993(2nd TFR)

16 33/11 KV S/S, Wangjing Conventional 33 KV 1X3.15 MVA, 1X5

MVA

3 01-05-1995, 24-05-2012(2nd TFR)

17 33/11 KV S/S, Napetpalli Conventional 33 KV 1X5 MVA 4 13/11/1994

18 33/11 KV S/S, Chingarel Conventional 33 KV 2X5 MVA 5 20/10/2014

19 33/11 KV S/S, Saikul Conventional 33 KV 1X3.15 MVA 4 14/02/2005

20 33/11 KV S/S, Nilakuthi Conventional 33 KV 2X10 MVA 4 10/12/1990

Sub-Station Division No.III

1 132/33KV Ningthoukhong Conventional 132/33KV 2x20MVA 7 1x12.5MVA, January 15, 1990 (Dismantle)

77


Transmission Lines


S/C or D/C


Voltage level kV



1x12.5MVA, February 10, 1990

(Dismantle)

1x20MVA, July 22, 2014

2 132/33KV Kakching Conventional 132/33KV 2x20MVA 6 1x20MVA, July 27, 1994

New 1x20MVA, August 10, 2007

3 132/33KV Churchanpur Conventional 132/33KV 2x20MVA 5 1x20MVA, July 17,2000

4 33/11KV Nambol Conventional 33/11KV 1x5MVA 5 February 22, 2000

5 33/11KV Bishnupur Conventional 33/11KV 1x3.15MVA 4 April 22, 1991

6 33/11KV Ninthoukhong Conventional 33/11KV 2x3.15MVA 5 Jun/79

7 33/11KV Moirang Conventional 33/11KV 2x3.15MVA 5 May 5, 1982

8 33/11KV MoirangKhunou Conventional 33/11KV 1x3.15MVA 4 Sep-96

9 33/11KV Khoupum Conventional 33/11KV 1x1MVA 4 Jul-95

10 33/11KV Kakching Conventional 33/11KV 2x5MVA 8 October 3, 1994

11 33/11KV New Chayang Conventional 33/11KV 1x3.15MVA 4 March 1, 1992

12 33/11KV Sekmaijin Conventional 33/11KV 2x5MVA 4 January 29, 2015

13 33/11KV MayangImphal Conventional 33/11KV 2x3.15MVA 4 August 27, 1983

14 33/11KV Thanlon Conventional 33/11KV 2x1MVA 5 December 23, 2013

15 33/11KV Thinkew Conventional 33/11KV 2x1MVA 5 March 31, 2010

16 33/11KV Singhat Conventional 33/11KV 1x3.15MVA 4 August 11, 2007

17 33/11KV New Lamka Conventional 33/11KV 2x5MVA 5 December 24, 2008

78


Transmission Lines


S/C or D/C


Voltage level kV



18 33/11KV Churchanpur Conventional 33/11KV 3x5MVA 8 August 14, 1988

19 1x5MVA, 19-02-2006

20 33/11KV Iroisemba Conventional 33/11KV 3x5MVA

21 33/11KV Yurembam Conventional 33/11KV 3x5MVA

22 33/11KV Mongsangei Conventional 33/11KV 20MVA

23 33/11KV Kongba Conventional 33/11KV 20MVA

24 33/11KV KhumanLampak Conventional 33/11KV 20MVA

25 33/11KV Jiribam Conventional 33/11KV 10 MVA

26 33/11KV Rengpang Conventional 33/11KV 3.15 MVA

27 33/11KV Imphal Power house Conventional 33/11KV 3x5MVA

28 33/11KV Tamenglong Conventional 33/11KV 3.15 MVA

29 33/11KV Tangnoupal Conventional 33/11KV 1 MVA

30 33/11KV Airport Conventional 33/11KV 2 MVA

31 33/11KV Moreh Conventional 33/11KV 1x5MVA

32 33/11KV Maram Conventional 33/11KV 3.15MVA

33 33/11KV Noney Conventional 33/11KV 3.15 MVA

34 33/11KV Namrai Conventional 33/11KV 2 MVA

35 33/11KV Kangla Conventional 33/11KV 2x5MVA

36 33/11KV shivapurikhal Conventional 33/11KV 3.15MVA

37 33/11KV Tamei Conventional 33/11KV 3.15MVA

38 33/11KV Tousem Conventional 33/11KV 3.15MVA

39 33/11KV Kakwa Conventional 33/11KV 10 MVA

40 33/11KV Sagolmang Conventional 33/11KV 6.3 MVA

41 33/11KV sangaipat Conventional 33/11KV 20 MVA

42 33/11KV sangaiporu Conventional 33/11KV 20 MVA

79


Transmission Lines


S/C or D/C


Voltage level kV



43 33/11KV JNIMS Conventional 33/11KV 10 MVA

44 33/11KV Mantripukhri Conventional 33/11KV 10 MVA

80

Statement of Assets not in Use

Form No: F2a

(Rs Crores)

S. No.

Asset details

Date of Acquisition/ Installation

Historical Cost/ Cost

of Acquisition

Date of withdrawal

from operations

Cumulative depreciation

recovered

Proposed residual

value

NIL

81

Normative Parameters Considered for Tariff Computations Form No:

F3

Particulars Unit 2014-15 2015-16 2016-17 2017-18 2018-19


1 Base Rate of Return on Equity

% 15.50% 15.50% 15.50% 15.50% 15.50%

2 Tax Rate % 20.01% 20.01% 20.01% 20.01% 20.01%

3 Target Availability % 98.00% 98.00% 98.00% 98.00% 98.00%

4 Maintenance Spares for Working Capital

% of O&M 15% 15% 15% 15% 15%

5 Receivebles for Working Capital

in Months 2 2 2 2 2

6 Base Rate of SBI as on ________________

% 14.75% 14.75% 14.75% 14.75% 14.75%

82

Abstract of admitted Capital Cost for the existing Project Form No:

F4

Particulars Unit Details

1 Capital Cost as admitted by JERC Rs Crores NA

2 Capital cost admitted as on

3 Foreign Component, if any (In Million US $ or the relevant

Currency)

4 Domestic Component Rs Crores

5 Foreign Exchange rate considered for the admitted Capital cost

6 Hedging cost, if any, considered for the admitted Capital cost

7 Total Capital cost admitted Rs Crores

83

Details of Foreign Loans Form No: F5

Details only in respect of loans applicable to the project under petition

Particulars 2016-17 2017-18 2018-19

Date

Amount (Foreign

Currency)

Exchange Rate

Amount (Rs)

Date Amount (Foreign

Currency)

Exchange Rate

Amount (Rs)


Currency)

Exchange Rate

Amount (Rs)

Currency11

NIL

Date of loan drawl2

Scheduled Principal Repayment

Scheduled Interest payment

Closing at the end of financial year

In case of Hedging3

At the date of Hedging

Period of hedging

Cost of hedging

Currency21

Date of loan drawl2




In case of Hedging3


Period of hedging

Cost of hedging

Currency31

Date of loan drawl2




In case of Hedging3

84

Details of Foreign Loans Form No: F5


Particulars 2016-17 2017-18 2018-19

Date

Amount (Foreign

Currency)

Exchange Rate

Amount (Rs)


Currency)

Exchange Rate

Amount (Rs)


Currency)

Exchange Rate

Amount (Rs)


Period of hedging

Cost of hedging

85

Details of Foreign Equity Form No: F6


Particulars 2016-17 2017-18 2018-19

Date

Amount (Foreign

Currency)

Exchange Rate

Amount (Rs)


Currency)

Exchange Rate

Amount (Rs)


Currency)

Exchange Rate

Amount (Rs)

Currency11

NIL

1 Date of Infusion

2

3

4

Currency21

1 Date of Infusion

2

3

4

Currency31

1 Date of Infusion

2

3

4

86

Capital Cost Estimates and Schedule of Commissioning for New projects

Form No:

F7

Board of Director/ Agency approving the Capital cost

estimates:

Date of approval of the Capital cost estimates:

Present Day Cost

Completed Cost

Price level of approved estimates As of End of ________ Qtr. Of the year _________

As on Scheduled COD of the Station

Foreign Exchange rate considered for the Capital cost estimates

Capital Cost excluding IDC, FC, FERC & Hedging Cost

Foreign Component, if any (In Million US $ or the relevant Currency)

NA

Domestic Component (Rs. Lakhs)

Capital cost excluding IDC, FC, FERC & Hedging Cost (Rs. Lakhs)

IDC, FC, FERC & Hedging Cost


NA


Total IDC, FC, FERC & Hedging Cost (Rs. Lakhs)

Rate of taxes & duties considered

Capital cost Including IDC, FC, FERC & Hedging Cost


NA


Capital cost Including IDC, FC, FERC & Hedging Cost (Rs. Lakhs)

Schedule of Commissioning

COD of Unit-I/ Block-I NA

COD of Unit-II/ Block-II

-------------------------

---------------------------

COD of last Unit/ Block

87

Break-up of Project Cost for Transmission System Form No: F 8

Rs Crores

No Break Down As per original

estimates

Actual capital

expenditure as on COD

Liabilities/ provisions

Variation (B-C-D)

Reasons for Variation

A B C D E F

A Transmission Line

NIL

1 Preliminary works

1.1 Design & Engineering

1.2 Priliminaryinvestigation,Right of way, forest clearance, PTCC , general civil

works etc.

Total Preliminary works

2 Transmission Lines material

2.1 Towers Steel

2.2 Conductor

2.3 Earth Wire

2.4 Insulators

2.5 Hardware Fittings

2.6 Conductor &Earthwire accessories

2.7 Spares

2.8 Erection, Stringing & Civil works including foundation

Total Transmission Line Materials

3 Taxes and Duties

3.1 Custom Duty

3.2 Other Taxes & Duties

Total Taxes & Duties

Total -Transmission lines

B. Substations

4 Preliminary works & land

4.1 Design & Engineering

88


Rs Crores


estimates

Actual capital



Variation (B-C-D)


A B C D E F

4.2 Land

4.3 Site preparation

Total Preliminary works & land

5 Civil Works

5.1 Control Room & Office Building including HVAC

5.2 Township & Colony

5.3 Roads and Drainage

5.4 Foundation for structures

5.5 Misc. civil works

Total Civil Works

6 Substation Equipments

6.1 Switchgear (CT,PT, Circuit Breaker, Isolator etc)

6.2 Transformers

6.3 Compensating Equipment( Reactor, SVCs etc)

6.4 Control , Relay & Protection Panel

6.5 PLCC

6.6 HVDC package

6.7 Bus Bars/ conductors/Insulators

6.8 Outdoor lighting

6.9 Emergency D.G. Set

6.1 Grounding System

6.11 Structure for switchyard

Total Substation Equipments

7 Spares

89


Rs Crores


estimates

Actual capital



Variation (B-C-D)


A B C D E F

8 Taxes and Duties

8.1 Custom Duty

8.2 Other Taxes & Duties

Total Taxes & Duties

Total (Sub-station)

9 Construction and pre-commissioning expenses

9.1 Site supervision & site admn.etc.

9.2 Tools and Plants

9.3 construction Insurance

Total Construction and pre commissioning expenses

10 Overheads

10.1 Establishment

10.2 Audit & Accounts

10.3 Contingency

Total Overheads

11 Total Cost (Plant and Equipment)

12 IDC, FC, FERV & Hedging Cost

12.1 Interest During Construction (IDC)

12.2 Financing Charges (FC)

12.3 Foreign Exchange Rate Variation (FERV)

12.4 Hedging Cost

Total of IDC, FC, FERV & Hedging Cost

90


Rs Crores


estimates

Actual capital



Variation (B-C-D)


A B C D E F

13 Capital Cost incl IDC, FC, FERV & Hedging Cost

91

Break-up of Construction/ Supply/ Service packages Form No: F9

Particulars 1 2 3 4 5 6 ----

1 Name/ No. of Construction / Supply / Service Package

NA

2 Scope of works1 (in line with head of cost break-ups as

applicable)

3 Whether awarded through ICB/DCB/ Depatmentally/

Deposit Work

4 No. of bids received

5 Date of Award

6 Date of Start of work

7 Date of Completion of Work

8 Value of Award2 in (Rs. Lakhs)

9 Firm or With Escalation in prices

10 Actual capitalexpenditure till the completion or up to

COD whichever is earlier(Rs.Cr.)

11 Taxes & Duties and IEDC

12 IDC, FC, FERV & Hedging Cost

13 Sub -total (9+10+11)

92

Draw Down Schedule for Calculation of IDC & Financing Charges Form No: F10

Rs

Crores

No

Draw Down Quarter 1 Quarter 2 Quarter n (COD)

Particulars Quantum in

Foreign currency

Exchange Rate on

draw down date

Amount in

Indian Rupee

Quantum in Foreign currency

Exchange Rate on

draw down date

Amount in

Indian Rupee


Exchange Rate on draw down

date

Amount in

Indian Rupee

1 Loans

NIL

1.1 Foreign Loans

1.1.1 Foreign Loan 1

Draw down Amount

IDC

Financing charges

1.1.2 Foreign Loan 2

Draw down Amount

IDC

Financing charges

1.1.3 - -

- -

- -

Total Foreign Loans

Draw down Amount

IDC

Financing charges

1.2 Indian Loans

1.2.1 Indian Loan 1

Draw down Amount

IDC

Financing charges

1.2.2 Indian Loan 2

93

Draw Down Schedule for Calculation of IDC & Financing Charges Form No: F10

Rs

Crores

No

Draw Down Quarter 1 Quarter 2 Quarter n (COD)

Particulars Quantum in

Foreign currency

Exchange Rate on

draw down date

Amount in

Indian Rupee


Exchange Rate on

draw down date

Amount in

Indian Rupee


Exchange Rate on draw down

date

Amount in

Indian Rupee

Draw down Amount

IDC

Financing charges

1.2.3 - -

- -

- -

Total Indian Loans

Draw down Amount

IDC

Financing charges

Total of Loans

drawn

IDC

Financing charges

2 Equity

2.1 Foreign equity

drawn

2.2 Indian equity drawn

Total equity

deployed

94

Financial Package UptoCoD Form No: F11

Project Cost as on COD1

Date of Commercial Operation of Transmission Element

Financial Package as Approved

Financial Package as on COD

As Admitted on COD

Currency Amount Currency Amount Currency Amount

Loans

NIL

Loan-I

Loan-II

Loan-III

and so on

Total Loan

Equity

Foreign

Domestic

Total Equity

Debt : Equity Ratio

95

Details of Project Specific Loans Form No: F12

Rs

Crores

Particulars Package

1 Package

2 Package

3 Package

4 Package

5 Package

6

Source of Loan1

NIL

Currency2

Amount of Loan sanctioned

Amount of Gross Loan drawn upto 31.03.2011/ COD 3,4,5,13,15

Interest Type6

Fixed Interest Rate, if applicable

Base Rate, if Floating Interest7

Margin, if Floating Interest8

Are there any Caps/Floor9

If above is yes,specify caps/floor

Moratorium Period10

Moratorium effective from

Repayment Period11

Repayment effective from

Repayment Frequency12

Repayment Instalment13,14

Base Exchange Rate16

Are foreign currency loan hedged?

If above is yes,specify details17, 18, 19

96

Details of Allocation of corporate loans to various transmission projects Form No: F13

Rs

Crores

Particulars Package

1 Package

2 Package

3 Package

4 Package 5

Package 6

Source of Loan1

NIL

Currency2

Amount of Loan sanctioned

Amount of Gross Loan drawn upto 31.03.2011/ COD 3,4,5,13,15

Interest Type6

Fixed Interest Rate, if applicable

Base Rate, if Floating Interest7

Margin, if Floating Interest8

Are there any Caps/Floor9

If above is yes,specify caps/floor

Moratorium Period10

Moratorium effective from

Repayment Period11

Repayment effective from

Repayment Frequency12

Repayment Instalment13,14

Base Exchange Rate16

Are foreign currency loan hedged?

If above is yes,specify details17,

18, 19

97

Statement of Additional Capitalisation after COD Form No: F14

Rs Crores

No Year

Work/ Equipment proposed to be added after COD up to Cut off Date/ Beyond Cut

off Date

Amount capitalised and Proposed to be

capitalised

Justification

Regulations under which

covered

Admitted Cost1

NIL

98

Financing of Additional Capitalisation Form No:

F15

Rs Crores

Financial Year (Starting from COD)

Actual Admitted

Year 1 Year

2 Year

3 Year

4

Year 5

& so on

Year 1

Year 2

Year 3

Year 4 Year 5

& so on

Amount capitalised in Work/ Equipment

NIL

Financing Details

Loan-1

Loan-2

Loan-3 and so on

Total Loan2

Equity

Internal Resources

Others

Total

99

Statement of Capital Cost Form No: F16

Rs Crores

Particulars As on relevant date1

A a Opening Gross Block Amount as per books

NA

b Amount of capital liabilities in A(a) above

c Amount of IDC, FC, FERV & Hedging cost included in A(a) above

d

Amount of IEDC (excluding IDC, FC, FERV & Hedging cost) included in A(a)

B a Opening Gross Block Amount as per books

b Amount of capital liabilities in B(a) above

c Amount of IDC, FC, FERV & Hedging cost included in B(a) above

d

Amount of IEDC (excluding IDC, FC, FERV & Hedging cost) included in B(a)

B a Opening Gross Block Amount as per books

b Amount of capital liabilities in C(a) above

c Amount of IDC, FC, FERV & Hedging cost included in C(a) above

d

Amount of IEDC (excluding IDC, FC, FERV & Hedging cost) included in C(a)

100

Statement of Capital Works in Progress Form No:

F17

Rs Crores

Particulars As on relevant date1

A a Opening CWIP Amount as per books

NA

b Amount of capital liabilities in above

c Amount of IDC, FC, FERV & Hedging cost included in a above

B a Addition/Adjustment in CWIP Amount during the period



C a

Capitalization/Transfer to Fixed asset of CWIP Amount during the period



D a Closing CWIP Amount as per books



101

R&M Expenses Form No:

F18

Rs

Crores

Particulars

2014-15 2015-16 2015-16 2016-17 2017-18 2018-

19

Till September

2015 Estimated Projected

1 Plant and Machinery 0.89 0.07 0.91 1.74 2.83 4.07

2 Building 3.04 0.25 3.10 5.95 9.67 13.92

3 Total 3.93 0.33 4.00 7.68 12.50 17.99

4 Any other items (Capitalisation)

0.00 0.00 0.00 0.00 0.00 0.00

5 Total 3.93 0.33 4.00 7.68 12.50 17.99

102

Employee Expenses Form No: F19

Rs Crores

Particulars

2014-15 2015-16 till September 2015-16 2016-17 2017-18 2018-19

Actual Actual Estimated Projected

1 Salaries 8.82 4.62 11.15 14.36 16.11 17.41

2 Additional Pay 2.00 1.09 2.53 3.26 3.66 3.95

3 Dearness Allowance (DA) 11.04 5.95 15.16 21.23 29.74 41.65

4 Medical Expenses Reimbursement 0.05

0.07 0.08 0.09 0.10

5 Travelling Allowance(Conveyance Allowance) 0.57 0.32 0.72 0.91 0.99 1.04

6 Provident Fund Contribution/ NPS 1.10 0.03 1.24 1.63 2.51 3.56

7 Provision for PF Fund

8 Any Other Items/ ACP Arrear/ Spl Pay/Cy. All 0.59 0.02 0.72 0.90 0.98 1.03

9 Impact of VII th Pay commission

0.00 10.81 13.75

10 Total Employee Costs 24.18 12.03 31.60 42.38 64.89 82.48

11 Less: Employee expenses capitalised 0.00 0.00 0.63 0.85 1.30 1.65

12 Net Employee expenses (D)-(E) 24.18 12.03 30.96 41.53 63.59 80.84

Employee Count 874

1072 1341 1460 1533

Employee at end of year 874

1270 1411 1509 1556

103

Employee Strength

Form No: 19 a

Rs Crores

Particulars

2014-15 2015-16 2016-17 2017-18 2018-19

Working Strength At

The Beginning Of

The Year

Sanctioned Strength At

The Beginning

Of The Year

Working Strength At

The Beginning

Of The Year


The Beginning

Of The Year

Working Strength At

The Beginning

Of The Year


The Beginning

Of The Year

Working Strength At

The Beginning

Of The Year


The Beginning

Of The Year

Working Strength At

The Beginning

Of The Year


The Beginning

Of The Year

1 Board of Directors

NA

2 Support staff to Board of

Directors

2(a) Technical

2(b) Administrative

2(c) Accounts & Finance

2(d) Others (please specify)

3 All Other Staff

3(a) Technical

3(a)(i) Officers

3(a)(ii) Staff

3(b) Non-technical

3(b)(i) Administrative

3(b)(i)(a) Officers

3(b)(i)(b) Staff

3(b)(ii) Accounts & Finance

3(b)(ii)(a) Officers

3(b)(ii)(b) Staff

3(b)(iii) Others (please specify)

3(b)(iii)(a) Officers

104

Employee Strength

Form No: 19 a

Rs Crores

Particulars

2014-15 2015-16 2016-17 2017-18 2018-19

Working Strength At

The Beginning Of

The Year


The Beginning

Of The Year

Working Strength At

The Beginning

Of The Year


The Beginning

Of The Year

Working Strength At

The Beginning

Of The Year


The Beginning

Of The Year

Working Strength At

The Beginning

Of The Year


The Beginning

Of The Year

Working Strength At

The Beginning

Of The Year


The Beginning

Of The Year

3(b)(iii)(b) Staff

Total

105

Administration & General Expenses Form No: F20

Rs Crores

Particulars

2014-15 2015-16 till

October 2015-16 2016-17 2017-18 2018-19

Actual

Estimated Projected

1 Telephone, Postage, Telegram & Telex Charges 0.03 0.00 0.03 0.04 0.04 0.04

2 Vehicle Expenses 0.17 0.07 0.18 0.19 0.20 0.21

3 Printing And Stationery 0.15 0.04 0.15 0.15 0.15 0.15

4 Advertisement Expenses 0.13 0.01 0.14 0.15 0.16 0.17

5 Electricity Charges To Offices 1.28

1.36 1.44 1.53 1.62

6 Miscellaneous Expenses, Meetings, Seminars 0.31 0.05 0.33 0.35 0.37 0.39

7 Legal Charges 0.33

0.33 0.33 0.33 0.33

8 Auditor's Fee,Consultants, License 0.14 0.10 0.14 0.14 0.14 0.14

9 Vehicle Running Expenses Truck / Delivery Van 0.10 0.21 0.10 0.11 0.12 0.12

10 Fabrication Charges, Furniture, Local Purchase 0.29 0.05 0.31 0.33 0.35 0.37

11 Total A&G Expenes 2.93 0.53 3.07 3.22 3.38 3.54

12 Less: A&G Expenses Capitalised 0.00 0.00 0.06 0.06 0.07 0.07

13 Total A&G Expenes 2.93 0.53 3.01 3.16 3.31 3.47

106

Name of Asset

Depreciation rate1

2015-16 2016-17 2017-18 2018-19

Estimated Projected Projected Projected

Opening

Addition

Depreciation

Closing

Opening

Addition

Depreciation

Closing

Opening

Addition

Depreciation

Closing Openi

ng Addition

Depreciation

Closing

1 Land 0.00% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00

2 Plant &

Machinery 5.28% 168.78 285.59 16.45 454.37 454.37 400.39 34.56 854.76

854.76

508.60 58.56 1363.36 1363.36 560.3 86.78 1923.68

2 Building 3.34% 25.24 42.72 1.56 67.96 67.96 59.89 3.27 127.85 127.8

5 76.07 5.54 203.92 203.92 83.8 8.21 287.73

3 Furniture &Fitings

6.33% 0.23 0.38 0.03 0.61 0.61 0.53 0.06 1.14 1.14 0.68 0.09 1.82 1.82 0.7 0.14 2.57

3 Computer 15.00% 0.01 0.01 0.00 0.01 0.01 0.01 0.00 0.03 0.03 0.02 0.01 0.04 0.04 0.0 0.01 0.06

4 Office

Equipments 6.33% 0.08 0.14 0.01 0.22 0.22 0.19 0.02 0.41 0.41 0.25 0.03 0.66 0.66 0.3 0.05 0.93

4 Vehicle 9.50% 0.30 0.52 0.05 0.82 0.82 0.72 0.11 1.54 1.54 0.92 0.19 2.46 2.46 1.0 0.28 3.48

Total

194.64 329.35 18.10 523.99 523.99 461.75 38.02 985.73

985.73

586.53 64.42 1572.27 1572.27 646.1

8 95.47 2218.45

Percentage of assets not

funded through grants

1%

Depreciation to

be charged 0.24

0.51

0.87

1.29

107

2014-15 2015-16 2016-17 2017-18 2018-19

Actual Estimates Projection Projection Projection

Additions during

the Year

Balance at the end

of the Year

Additions during

the Year

Balance at the end of

the Year

Additions during

the Year


the Year

Additions during

the Year


the Year

Additions during

the Year


the Year

1 Consumer Contribution towards Cost Of Capital

Assets - 0.00 - 0.00 - 0.00 - 0.00 - 0.00

3 Grant towards Cost Of Capital

Assets 171.56 745.79 261.36 1,007.15 598.32 1,605.47 549.95 2,155.42 599.33 2,754.75

Total 171.56 745.79 261.36 1007.15 598.32 1605.47 549.95 2155.42 599.33 2754.75

108

Loan Details

Loan

Tenure (yrs

)

2015-16 2016-17 2017-18 2018-19

Actual Actual Actual Actual

Rate of Interest

Opening Balance

Amount

received

Principal

repayment

Interest

Due

Closing Balance

Rate of Interest

Openin

g Balance

Amount

received

Principal repayme

nt

Interest Due

Closing

Balanc

e

Rate of Interest

Opening

Balance

Amoun

t received

Principal

repayment

Interest

Due

Closing Balance

Rate of Interest

Opening Balance

Amoun

t received

Principal repayment

Interest Due

Closing Balance

A

Interest charges on State Govt. Loans, Bonds

And Advances

1 State

Government Loans

2 Bonds

3 Foreign

Currency Loans / Credits

4 Debentures

Sub-total

Interest on Long Term

Loans / Credits from the FIs/

banks/ organisations approved by

the State Government

A Secured Loans

0.00

0.00

0.00

0.00

Loan 1

Loan 2

Loan 3

109

Loan Details

Loan

Tenure (yrs

)

2015-16 2016-17 2017-18 2018-19


Rate of Interest

Opening Balance

Amount

received

Principal

repayment

Interest

Due

Closing Balance

Rate of Interest

Openin

g Balance

Amount

received

Principal repayme

nt

Interest Due

Closing

Balanc

e

Rate of Interest

Opening

Balance

Amoun

t received

Principal

repayment

Interest

Due

Closing Balance

Rate of Interest

Opening Balance

Amoun

t received

Principal repayment

Interest Due

Closing Balance

Loan 4

Sub-total

-

-

-

-

B

Unsecured Loans

Loan 1

Loan 2

Loan 3

Loan 4

Sub-total

-

C Other Interest

& Finance Charges

Cost of raising Finance / Bank

Charges

Interest on

Security Deposit

Penal Interest

Charges

Lease Rentals

Sub-total

0

D Grand Total Of

0

0

0

0

110

Loan Details

Loan

Tenure (yrs

)

2015-16 2016-17 2017-18 2018-19


Rate of Interest

Opening Balance

Amount

received

Principal

repayment

Interest

Due

Closing Balance

Rate of Interest

Openin

g Balance

Amount

received

Principal repayme

nt

Interest Due

Closing

Balanc

e

Rate of Interest

Opening

Balance

Amoun

t received

Principal

repayment

Interest

Due

Closing Balance

Rate of Interest

Opening Balance

Amoun

t received

Principal repayment

Interest Due

Closing Balance

Interest & Finance

Charges (A + B + C)

E Less: Interest &

Finance Charges Capitalised

Net Total Of Interest &

Finance Charges (D - E)

0

0

0

0

111

Statement of Equity Form No:

F23

Loan Details Unit

2014-15 2015-16 2016-17 2017-18 2018-19


1 Average Equity Rs

Crores 10.05 10.05 20.05 40.05 70.05

2 Rate of Return on Equity % 15.5% 15.5% 15.5% 15.5% 15.5%

4 Return on Equity

1.56 1.56 2.33 4.66 8.53

3 Income Tax

0.00 0.39 0.78 1.55 2.72

4 Total

1.56 1.95 3.11 6.21 11.25

112

Return on Capital Employed

Form No.: F24

Rs

Crores

No Loan Details Form

2014-15

2015-16 2015-16 2016-

17 2017-

18 2018-

19

Actual Till September


1 Regulated Rate Base

0.00

0.00 0.00 0.00

2 Original Costs of Fixed Assets

3 Accumulated Depreciation

4 Addition in Regulated Rate

Base a Investments during the year

b Depreciation

5 Change in Working Capital

6 Equity F23 10.05

10.05 20.05 40.05 70.05

7 Debt

8 Rate of return on Equity F23 15.5%

15.5% 15.5% 15.5% 15.5%

9 Rate of Return on Debt

10 Weighted Avg Cost of Capital

(WACC)

11 Return on Capital Employed

(RoCE) 1.56

1.56 2.33 4.66 8.53

113

Working Capital Requirements Form No:

F25

Loan Details Unit

2014-15

2015-16 2015-16 2016-

17 2017-

18 2018-

19

Actual Till september


1 Receivables for two months

calculated on NATAF Rs

Crores 5.99

5.13 8.66 13.97 18.90

2 Maintenance spares @ 15% of

O&M Rs

Crores 4.66

NA

5.80 7.99 12.11 15.60

3 O&M expenses for 1 month Rs

Crores 2.59 3.22 4.44 6.73 8.67

Total Working Capital

Rs Crores

13.23 14.15 21.10 32.81 43.17

Rate of Interest 14.75%

Interest on Working Capital

Rs Crores

1.95 2.09 3.11 4.84 6.37

114

Details of Non-tariff Income Form No: F26

No Particulars Unit

2014-15

2015-16 2015-16 2016-

17 2017-18 2018-19

Actual Till

September 2015

Estimated Projected

1 SLDC Income Rs

Crores 1.55 3.25 7.54 2.95 3.09 3.09

2 Agency Charges

Rs Crores

1.6 1.52 3.04 3.22 3.41 3.62

3 Bank Interest Rs

Crores 0.67

0.71 0.75 0.80 0.85

4 Other Income Rs

Crores 0.18

0.19 0.20 0.21 0.23

Total

Rs Crores

4.00

11.48 7.13 7.52 7.78

115

No Particulars Unit 2014-15 2015-16 2015-16 2016-17 2017-18 2018-19

Actual Till September 2015

Estimated Projected

1 Rs Crores NIL

2 Rs Crores

3 Rs Crores

4 Rs Crores

5 Rs Crores

6 Rs Crores

7 Rs Crores

8 Rs Crores

9 Rs Crores

10 Rs Crores

Total Rs Crores

116

Expenses Capitalised

Form No: F28

(Rs Crores)

2014-15 2015-16 2015-16 2016-17 2017-18 2018-19

Actual Till

December 2015

Estimated Projected

1 Interest & Finance

charges Capitalised

0.00

0.00 0.00 0.00 0.00

2 Employee expenses

0.00

0.63 0.85 1.30 1.65

3 A&G Expenses 0.00

0.06 0.06 0.07 0.07

4 Others, if any

Grand Total 0.00

0.69 0.91 1.37 1.72


117

Income Tax Provisions

Form No: F29

(Rs Crores)

2014-15 2015-16 2015-16 2016-17 2017-18 2018-19

Actual Till

September 2015

Estimated Projected

1 Income Tax on the Retun on

Equity

2 As Per Return Filed For The

Year

3 As Assessed For

The Year

4

Credit/Debit Of Assessment

Year(s) (Give Details)

Total 0.00

0.39 0.78 1.55 2.72

Multi Year Tariff Petition of FY 2016-17 to FY 2018-19 and ... · Multi Year Tariff Petition of FY...

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