PETITION FOR ANNUAL REVENUE REQUIREMENT FOR THE FINANCIAL ... Trader MYT tariff petition 0708...

PETITION FOR ANNUAL REVENUE REQUIREMENT

FOR THE FINANCIAL YEARS 2007-08 TO 2009-10

And

TARIFF PROPOSAL FOR THE FINANCIAL YEAR 2007-2008

Submission of Text and Affidavit

To

Assam Electricity Regulatory Commission

By

Assam State Electricity Board

Bijulee Bhawan, Paltanbazar

Guwahati-781 001

BEFORE THE ASSAM STATE ELECTRICITY REGULATORY

COMMISSION, GUWAHATI.

Petition No. – Case No.

(to be filed by the Office) IN THE MATTER OF Filing of Annual Revenue Requirement Proposal for the years 2007-2008 to 2009-2010

AND Petition for Determination of Tariff For the year 2007-2008

AND IN THE MATTER OF Assam State Electricity Board Bijulee Bhawan, Paltanbazar, Guwahati-781 001. Petitioner I, _________________________________________ son of Shri _________________________ aged _______ years residing at _________________________ do solemnly affirm and say as follows: I am the ___________________________ of Assam State Electricity Board, the petitioner in the above matter and am duly authorized by the said Petitioner to make this affidavit for and on behalf of the ASEB. The Statement made in the Petition based on information received from official records and I believe them to reflect truly and no material has been concealed from the statements so made or documents or supporting data etc. attached. Solemnly affirm at Guwahati on ___________th day of __________ 2007 that the contents of this affidavit are true to my knowledge, no part of it is false or no material has been concealed therefore and misleading material included therein. Place: Guwahati Date _________

Deponent

By order of the Commission

Secretary of the Commission

Petition for Approval of ARR for FY 2007-08 to 2009-10 and Revision of Tariff for FY 2007-08


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Table of Contents

1. Legal and Regulatory Framework.........................................................................................10

2. Review of performance in FY 05-06.....................................................................................12

2.1. Operations .....................................................................................................................12

2.2. Financial Position..........................................................................................................12

3. Review of performance in FY 06-07.....................................................................................13

3.1. Operations .....................................................................................................................13

3.2. Energy Account – Actual for 9 months of FY 06-07 – MU and Rupees......................14

3.3. Energy purchased and Cost – entire year FY 2006-07..................................................16

3.4. Comparison of MU– Tariff Order FY 07 & Final Position for FY 07..........................17

3.5. Comparison of Rs Crores– Tariff Order FY 07 & Final Position for FY 07 ................18

3.6. Reasons for additional cost of power purchase .............................................................19

3.7. Income and Expenditure estimation..............................................................................20

3.7.1. Operations .............................................................................................................20

3.7.2. Repairs & Maintenance.........................................................................................20

3.7.3. Employee Expenses...............................................................................................21

3.7.4. Administration & General Expenses.....................................................................21

3.7.5. Other income .........................................................................................................22

3.7.6. Depreciation ..........................................................................................................22

3.7.7. AAD Calculations .................................................................................................23

3.7.8. Interest ...................................................................................................................23

3.7.9. Profit & Loss account............................................................................................24

3.7.10. Tariff Order comparison........................................................................................24

3.7.11. Surplus/ Deficit comparison in MU- Tariff order vis-à-vis Actuals .....................25

4. Projected ARR for FY 07-08 to FY 09-10............................................................................26

4.1. Multi- year framework ..................................................................................................26

4.2. Assumptions ..................................................................................................................26

4.3. Operations .....................................................................................................................27

4.4. Employee Expenses.......................................................................................................27

4.5. Administration and General Expenses ..........................................................................28

4.6. Other Income.................................................................................................................28

4.7. Interest ...........................................................................................................................28

4.8. Profit & Loss account....................................................................................................29

4.8.1. Projected ARR.......................................................................................................29

4.9. Incentives ......................................................................................................................30

5. Business Plan – FY 07 to FY 12 ...........................................................................................31

5.1. Assumptions ..................................................................................................................31

5.2. Energy purchased ..........................................................................................................32

5.3. Power purchase costs ....................................................................................................33

5.4. Profit and Loss account .................................................................................................33

5.5. Balance Sheet ................................................................................................................34

6. Directives of AERC ..............................................................................................................35

7. Annual Statement of Accounts for FY 2005-06....................................................................35



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List of Tables

Table1: Energy Handled from various sources in MU .................................................................12

Table 2: Profit and Loss Account - FY 06 ....................................................................................13

Table 3: Energy received from various sources (excluding APGCL) in first 9 months ...............14

Table 4: UI account for first 9 months – MU and Rupees ............................................................14

Table 5: Power purchase costs paid in the first 9 months in Rupees ............................................15

Table 6: Expected energy procurement for FY 07 and the associated costs.................................16

Table 7: Energy handled from various sources in MU in comparison with Tariff Order 07........17

Table 8: Impact of changes in Power purchase in Rs Crores........................................................18

Table 9: Assumptions for various heads .......................................................................................20

Table 10: Repairs and Maintenance ..............................................................................................20

Table 11: Employee expenses for FY 07 ......................................................................................21

Table 12: Administration & General Expense ..............................................................................21

Table 13: Other Income.................................................................................................................22

Table 14: Depreciation ..................................................................................................................22

Table 15: AAD for FY 07 .............................................................................................................23

Table 16: Interest & Financing Charges .......................................................................................23

Table 17: Interest on Normative working capital..........................................................................23

Table 18 : Profit and Loss Account – FY 07.................................................................................24

Table 19: FY 07 Position as compared to Tariff Order................................................................24

Table 20: Surplus/ Deficit position as compared to Tariff Order .................................................25

Table 21: Assumptions for FY 2007-08 to FY 2009-10 ...............................................................27

Table 22: Employees Expenses for FY 2007-08 to FY 2009-10 ..................................................27

Table 23: Administration and General Expenses for FY 08 to FY 10..........................................28

Table 24: AAD for FY 08 to FY 10 ..............................................................................................28

Table 25: Other Income.................................................................................................................28

Table 26: Interest & Financing Charges .......................................................................................28

Table 27: Interest on Normative working capital..........................................................................29

Table 28: Profit and Loss Account for FY 08 to FY 10................................................................29

Table 29: ARR for FY 08 to FY 10 ..............................................................................................30

Table 30: Assumption for FY 07 – FY 12 ....................................................................................31

Table 31: Power handled between FY 07-FY12...........................................................................32

Table 32: Power Purchase cost for FY 07-FY 12 .........................................................................33

Table 33: Profit and Loss account for FY 07 to FY 12.................................................................33

Table 34: Balance Sheet for FY 07 to FY 12................................................................................34



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List of Annexure

Annexure I: GM (Com-T)’s letter to AERC.............................................................................36

Annexure II: List of Hon’ble Commission’s formats ..............................................................43

Annexure III: Details of additional Power Purchase from Trader ........................................57

Annexure IV: Details of actual funding of terminal liabilities................................................85

Annexure V: Annual Statement of Accounts for FY 2005-06 .................................................86

Annexure VI: Additional Information to arrive at Purchase cost of Power from DLF as

required by AERC Order No. AERC.127/2005/Pt-II dated 19-03-07 ..................................111



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Glossary

Acronym Full form

A&G Administrative and General

AAD Advance Against Depreciation

ABC Aerial Bunched Conductors

ABT Availability Based Tariff

ADB Asian Development Bank

AEGCL Assam Electricity Grid Corporation Limited

AERC Assam Electricity Regulatory Commission

AMR Automated Meter Reading

APDRP Accelerated Power Development and Reforms Program

APERC Andhra Pradesh Electricity Regulatory Commission

APGCL Assam Power Generation Corporation Limited

APTRANSCO Andhra Pradesh Transmission Company

ARR Annual Revenue Requirement

ASEB Assam State Electricity Board

AT&C Aggregate Technical and Commercial

BST Bulk Supply Tariff

CAEDCL Central Assam Electricity Distribution Company Limited

CAGR Compounded Annual Growth Rate

CEO Chief Executive Officer

CMRI Common Meter Reading Instrument

CT/PT Current Transformer/Potential Transformer

DPS Delayed Payment Surcharge

DTRs Distribution Transformers

EE Executive Engineer

FAS Fuel Adjustment Surcharge

FY Financial Year

GEC Guwahati Electrical Circle

GoA Government of Assam

GoI Government of India

GPRS General Packet Radio Service

GSM Global System for Mobile Communication

HHM Hand Held Machines

HT High Tension

HVDS High Voltage Distribution System

IAS Import Adjustment Surcharge

IRCA Industrial Revenue Collection Area

KV Kilo Volt

KVA Kilo Volt Ampere

KW Kilo Watt

KWH Kilo Watt Hour

LAEDCL Lower Assam Electricity Distribution Company Limited

LT Low Tension

MCAGR Modified Compounded Annual Growth Rate

MCBS Miniature Circuit Breaker

MIS Management Information Systems

MMSCMD Measured Million Standard Cubic Meter per day

MOU Memorandum of Understanding

MRI Meter Reading Instruments



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Acronym Full form

MU Million Unit

NERLDC North East Region Load Despatch Centre

NLCPR Non-Lapsable Central Pool of resources

O/H Over Heads

PGCIL Power Grid Corporation of India Limited

ph Phase

PIS Performance Incentive Scheme

PLC Power Line Carriers

PLF Plant Load Factor

PMGY Prime Minister Gramudyog Yojana

PSTN Public Switch Telephone Network

R&M Repairs and Maintenance

RE Rural Electrification

MNP Minimum Needs Program

RGGVY Rajiv Gandhi Grameen Vidyutikaran Yojana

Rs Rupees

RST Retail Supply Tariff

RTU Remote Terminal Unit

SBM Spot Billing Machine

SC Scheduled Caste

SCCP Scheduled Caste Component Plan

SDE Sub-Divisional Engineer

SEBs State Electricity Boards

SMEC Snowy Mountains Engineering Corporation Limited

ST Scheduled Tribe

T&D Transmission and Distribution

T.C. Transportation Cost

TCS Tata Consultancy Services Limited

TOU Time of Use

TSP Tribal Sub-Plan

UAEDCL Upper Assam Electricity Distribution Company Limited

UoM Unit of Measurement

US United States

V Volt

YOY Year-on-Year



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BEFORE THE HON’BLE ASSAM ELECTRICITY REGULATORY COMMISSION

FILING NO. ………………..

CASE NO. ………………….

IN THE MATTER OF:

A Petition for the approval of the Annual Revenue Requirement for the

periods for FY 2007-08 to 2009-2010 and for the approval of the proposal

for Bulk Supply Tariffs for Assam State Electricity Board (ASEB) for the

year 2007-08

AND

IN THE MATTER OF:

Assam State Electricity Board constituted under Section 5 of the Electricity

(Supply) Act, 1948 and having its registered office in the State of Assam

THE HUMBLE APPLICANT ABOVE NAMED MOST RESPECTFULLY SHEWETH:

1 That the Assam State Electricity Board, hereinafter named as ASEB, is carrying out the function of

Bulk Purchaser and Bulk Supplier as mentioned under Schedule “F” of the Assam Electricity Reforms

First Transfer Scheme, 2004 (here in after named as the “Transfer Scheme”) notified by Government

of Assam on 10th December 2004.

2 That the ASEB is a deemed licensee under the provisions laid down in Section 14 Proviso 5, read with

Section 131 (2) of the Electricity Act 2003.

3 That the licensee is now filing the petition for the approval of its Annual Revenue Requirement for the

financial years 2007-2008 to 2009-10 and proposal for the Bulk Supply Tariff for FY 2007-08

(PETITIONER)



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NOTES:

In this petition:

Previous Year is defined as the Financial Year (FY) 2005-2006

Current Year is defined as the Financial Year (FY) 2006-2007

Ensuing Years are defined as the Financial Year (FY) 2007-2008 to 2009-10



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1. Legal and Regulatory Framework

1.1 Under the provisions of the Electricity Act, 2003 the Assam Electricity Reforms First

Transfer Scheme, 2004 (hereafter “Transfer Scheme”) was notified by Government of

Assam on 10th December 2004. As per Schedule “F” of the Transfer Scheme the bulk

purchase and bulk supply functions, namely, purchase of electricity in bulk from the

generating companies including Assam Power Generating Corporation Limited (APGCL)

and supply of electricity in bulk to the Distribution companies (LAEDCL, CAEDCL and

UAEDCL) is with the ASEB.

1.2 Govt. of Assam has authorized Assam State Electricity Board (ASEB) to continue as a

trading licensee for a period up to 9th June 2007.

1.3 Section 62 of the Electricity Act 2003 requires the licensee to furnish details as may be

specified by the Commission for determination of tariff.

1.4 Section 5, 6 & 7 of A. E. R. C. (Terms and conditions for determination of Tariff)

Regulations 2006 lays down the following:

“..........................

5. Periodicity of tariff determination

…..

5.2 Subject to other provisions of these Regulations, the expenses allowed to be

recouped for any financial year, shall be subject to adjustments in any tariff to be

fixed for the subsequent period, if the Commission is satisfied, that such

adjustments for the excess amount or shortfall in the amount actually realized or

expenses incurred is necessary and the same is not on account of any reason

attributable to the licensee

5.3 In accordance with the principle of multi-year tariffs, the Commission shall define

the periodicity for tariff determination that will apply for a number of years during

a control period as follows

Function Control Period

Generation 5 years from 1 April 2006

Transmission 3 years from 1 April 2006

Distribution 3 years from 1 April 2006

Note: For example if the Tariff determination period is 2006-07, the Control

Period shall be 2006-07, 2007-08 and 2008-09

6. Petition for determination of tariff

6.1 The licensee and generating company may file a tariff petition annually with the

Commission to determine changes to the current tariff by not later than 1st

December unless an extension is granted by the Commission upon application……

7. Petition for determination of MYT

…….

7.2 The licensee and generating company shall also submit financial information for the

previous year and forecasts for current year, ensuing year and the years upto the end of the

control period as given below:



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(a) Actual audited data of the last financial year (e.g 2004-05 if year one of control period is

2006-07) and if the same is not audited the audited data of the latest financial year

accompanied by unaudited data of the subsequent years.

(b) Current Year’s estimates

(c) Projections for the control period years e.g 2006-07 and 2007-08, 2008-09

“

In a subsequent meeting with the AERC, it was clarified that the control period for

generation would also be 3 years. The control period for all licensees and generating

company would be from April 1, 2007 to March 31, 2010 i.e. FY 08, FY 09 and FY 10

1.5 The Annual Accounts 2005-06 of ASEB and five successor companies have been prepared based on the numbers of updated Opening Balance Sheet (as on 01-04-

2005) in terms of 5(c) of the Transfer Scheme of GOA vide order No.

PEL/151/2003/Pt/349 Dtd. 16th August, 2005. The provisional Annual Accounts of

ASEB and its five successor companies are to be furnished.

In terms of Final Transfer Scheme approved by GOA the Final Opening Balance

Sheet of the Successor Companies would be as on April 01, 2005. Further, Clause

5(c) of GOA notification No. PEL/151/2003/Pt/349 Dtd. 16th August, 2005 states that

"The Opening Balance Sheet (OBS) as per Schedule I to VI to this order have been

prepared based on the approved accounts of Assam State Electricity Board as on 31st

March, 2004 and such opening balance sheets shall all be subject to all

consequential adjustments on the update, finalization and audit of accounts of ASEB

as on 31st March, 2005."

The Annual Accounts of ASEB for the year 2004-05 was finalized, and

considered/approved by the Board vide Resolution No. 12 dated 19-11-2005. The

statements of Accounts have subsequently been audited and audit report and audit

certificate has been obtained from C & A.G.

The OBS as notified in final transfer scheme have been updated for the transaction

related to the financial year 2004-05 with the help of ADB consultant. The Board vide

resolution No. 5 dated 12-07-2006 have approved the updated OBS of ASEB and its

successor entities as on 01-04-2005 and approved the following:-

"The OBS of the 5(Five) ASEB successor entities and the BS of the Residual ASEB as

on 1st April,2005 in terms of the Board Resolution No. 1 of 31-05-2005. The said

OBS be forwarded to Government of Assam for approval and notification. The OBS

shall be accompanied by a copy of the Agenda Note in order to explain the

methodology and principles followed in this respect".

Accordingly the OBS of ASEB and its successor companies as on 01-04-2005 are

forwarded to the Government of Assam for approval and notification.

1.6 The petitioner has now prepared the petition for the approval of its annual revenue requirement for FY 2007-08 to 2009-10 and its proposal for Bulk Supply Tariff for

FY 2007-08 and submits the same to AERC.

1.7 The status of the various data formats and forms, as required by the Hon’ble

Commission, is furnished in Annexure II.



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2. Review of performance in FY 05-06

2.1. Operations

The company has managed to achieve close to the targeted handling of energy from external

sources. The energy balance of various sources handled is presented below.

Table1: Energy Handled from various sources in MU 05-06

NTPS 441.871

LTPS 326.605

APGCL - Generation 768.476

DLF 119.884

NeepCO

Kopili - I 506.106

Kopili - Free share

Khandong 103.121

Khandong - Free share

Kopili - II 38.345

Kopili -ii Free share

RHEP 562.764

DHEP 70.506

Sub Total 1,280.843

AGBPP 914.554

AGTPP 268.025

NeepCo 2,463.422

NTPC

NHPC 154.426

MeSEB 8.763

Trading NER 10.984

ER 239.370

12.841

GRAND TOTAL 3,778.166

Less: Losses to PGCIL 118.297

Less: State Sale 278.929

Less: UI (103.481)

Input to AEGCL 3,484.421

Net Imports (Regulated Power

NEEPCO)

2.2. Financial Position

The company has prepared its provisional accounts for the year FY 05-06 and has adjusted

certain numbers based on the final transfer scheme. These accounts are being presented to the

statutory auditors and the audited numbers would be filed with the AERC in due course.

The AERC has proposed a two stage corrections to the companies as the tariff orders are notified

ahead of actual numbers. The first correction is usually based on the provisional numbers and the

second correction is to be based on the final audited numbers. Hence the company proposes to

await the final audited numbers prior to asking for Regulatory true up of its operations.



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Table 2: Profit and Loss Account - FY 06 FY 06

Rs Crores

Sale of Power (MU) 3,484.42

INCOME

Revenue from tariffs & Miscell. Charges 763.61 Revenue subsidy from GOA 107.03

Total 870.64

Expenditure

Power Purchase 688.00

Trans charges 51.54

Trans charges for PGCIL 100.89

R&M Expense 31.57

Employee Expenses 27.15

A&G Expense 0.96

Depreciation -

Interest & Finance Charges 1.73

Less: Interest & other expenses capitalised -

Other Debits (incl. Prov for Bad debts, int on borrowing (0.04)

Extraordinary Items -

Other (Misc.)-net prior period credit (27.51)

Total 874.30

ROE 14%

Other Income 0.43

Provision for taxes 0.03

Annual Revenue Requirement 873.90

Surplus(+) / Shortfall(-) (3.25)

The company has received support from the Government of Assam to tide over the deficit caused

by higher purchase costs. It has managed to cover the expenses and post a smaller deficit.

As per the Tariff order, it collected the PGCIL charges and Transmission charges from the

Distribution companies since it will be the contracting party with the external transmission

agencies.

3. Review of performance in FY 06-07

3.1. Operations

The energy handled from various sources is listed below along with the position as envisaged in

the Tariff order.

The company expects to end this year with quantum of energy handled closer to 3790 MU. This

is based on the 9 months actual energy purchased and generated by APGCL and the expected

consumption in the last 3 months of the year. Largely, the energy handled in the system during

the first 9 months is ~ 73% and the balance period accounts for balance.

The energy balance projection has been done in the back drop of availability of the gas and

hydro sources as expected in the coming months.



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3.2. Energy Account – Actual for 9 months of FY 06-07 – MU and Rupees

Table 3: Energy received from various sources (excluding APGCL) in first 9 months

Energy Purchase In KWH

STATIONS Apr-06 May-06 Jun-06 Jul-06 Aug-06 Sep-06 Oct-06 Nov-06 Dec-06 Total MU

NEEPCO 151163931 188266398 277177095 300915226 266855886 256417639 199895144 156913260 140133194 1937.738

NHPC 6039704 4093991 14287439 20079913 19612411 20082322 20540020 12815468 10225570 127.7768

NTPC 24500246 45570026 33007042 32130738 28771050 30844220 35670820 33950910 70274510 334.7196

TOTAL 181703881 237930415 324471576 353125877 315239347 307344181 256105984 203679638 220633274 2400.234

UI Pool Account ( A ) 172608158 214610331 261179901 297752999 297514409 276425201 250027192 198299950 220230806 2188.649

Me S E B ( B ) 519170 562840 744980 918366 1028496 740280 843208 858528 6.215868

D L F ( Engy )

Adamtilla 1780680 2131560 2014560 2079960 1998240 1959600 2176920 2101080 2322600 18.5652

Banskandi 6293400 7104000 6717960 6695760 6845640 6476040 6941280 6608765 6815160 60.49801

Sub Total ( C ) 8074080 9235560 8732520 8775720 8843880 8435640 9118200 8709845 9137760 79.06321

NET PURCHASE(A+B+C)-- ( D )181201408 224408731 270657401 307447085 307386785 285601121 259988600 207868323 229368566 2273.928

Bilateral Purchase

LANCO 7667200 7.6672

GLOBAL 1283978

PTC India Ltd 8004000 8.004

Reliance Energy Ltd. 21948480 36383040 58.33152

TOTAL 1283978 0 0 0 0 0 7667200 29952480 36383040 75.2867

Total Purchase 182485386 224408731 270657401 307447085 307386785 285601121 267655800 237820803 265751606 2349.215

Total Purchase ( In M U )182.485 224.408 270.657 307.447 307.386 285.601 267.655 237.821 265.751 2349.211

APGL 61.919 67.916 57.946 56.235 56.657 47.008 56.44 81.689 95.703 581.513

Grand Total 244.404 292.324 328.603 363.682 364.043 332.609 324.095 319.51 361.454 2930.728

Table 4: UI account for first 9 months – MU and Rupees

Kwh Kwh Kwh Rs Rs Rs Rs/kwh

Apr-06 181957341 172608158 9349183 28064405.02 28064405.02 0.00 3.00

May-06 231825730 214610331 17215399 40867459.67 40867459.67 0.00 2.37

Jun-06 298831519 261179901 37651618 91448881.28 91448881.28 0.00 2.43

Jul-06 346649867 297752999 48896868 83479867.28 83479867.28 0.00 1.71

Aug-06 277719241 297514409 -19795168 -19460451.98 -19460451.98

Sep-06 273922284 276425201 -2502917 -7000537.00 -7000537.00

Oct-06 254734470 250027192 4707278 5591260.10 5591260.10 1.19

Nov-06 230851950 198299950 32552000 126887258.06 126887258.06 3.90

Dec-06 244184137 220230806 23953331 96052473.10 96052473.10 4.01

Jan-07

Feb-07

Mar-07

TOTAL 2340676539 2188648947 152027592 445930615.53 472391604.51 -26460988.98 2.38

UI Amount UI Receivable UI PayableUI Rate

(+sale & -MONTH

Schedule

Energy

Actual

EnergyUI Energy



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Table 5: Power purchase costs paid in the first 9 months in Rupees

STATIONS Apr-06 May-06 Jun-06 Jul-06 Aug-06 Sep-06 Oct-06 Nov-06 Dec-06 TOTAL

NEEPCO

KOPILI - I 0 11263551 26384496 38363574 38522140 32018743 34440034 17359046 17394069 215745653

KOPILI - II 0 2668134 14744565 16511097 16197987 16619929 15934693 19323 -107459 82588269

KHANDONG 2467073 10360829 11083236 11497201 10783991 10617775 209247 6850193 6802296 70671841

AGBPP 169619459 177915562 159032077 147050043 148290747 136005771 150359645 171926076 152671164 1412870544

AGTPP 43808228 44944242 41089249 46746630 43950922 45064701 46956061 45953405 47125639 405639077

RHEP 85668391 87325185 105888970 182830644 163081567 120050610 85554173 15851996 -3701129 842550407

DHEP 6608871 15278696 28231808 22535516 66575943 40759168 25817888 15201514 15497227 236506631

Sub Total---- A 308172022 349756199 386454401 465534705 487403297 401136697 359271741 273161553 235681807 3266572422

FPA (Addl.Bill)

AGBPP 27546760 31699540 23366921 23414420 28703854 26184832 26431901 22619208 23834428 233801864

AGTPP 3201662 3060828 3210112 3086268 3106043 3045918 3082109 3057260 3046537 27896737

Sub Total-- B 30748422 34760368 26577033 26500688 31809897 29230750 29514010 25676468 26880965 261698601

Toatl ( A + B ) 338920444 384516567 413031434 492035393 519213194 430367447 388785751 298838021 262562772 3528271023

NHPC 8447076 16212010 12688614 21209633 20880623 19498746 46071137 54309004 1295638 200612481

NTPC 40255558 59523133 44989637 49558323 46789837 90126871 59600976 54165419 111603515 556613269

Me S E B 1894719 2001801 2493104 2927979 3205034 2432478 2703996 2722955 20382066

D L F ( Engy )

Adamtilla 2730611 3268674 3089258 3189546 3064232 3004979 3338231 3221934 3561627 28469092

Banskandi 9806018 11069048 10467544 10432952 10666487 10090597 10815507 10297402 10618995 94264550

Sub Total---- C 12536629 14337722 13556802 13622498 13730719 13095576 14153738 13519336 14180622 122733642

D L F( Gas & TC )

Adamtilla 1241608 1488710 1418546 1464598 1406055 1377895 1530703 1477377 1633139 13038631

Banskandi 4117642 4652278 4404973 4412959 4529971 4278969 4586371 4362301 4494179 39839643

Sub Total--- D 5359250 6140988 5823519 5877557 5936026 5656864 6117074 5839678 6127318 52878274

Toatl ( C + D ) 17895879 20478710 19380321 19500055 19666745 18752440 20270812 19359014 20307940 175611916

PGCIL

NER 53182020 74521927 101508442 110473969 98927650 95786404 81223440 67910204 80132348 763666404

ER 2575651 2648152 2768130 2428875 2692554 2790400 2748855 3796625 4531871 26981113

NERULDC 4347795 4347795 4327671 4327671 4327671 4327671 4327671 4327671 4327671 38989287

Sub Total 60105466 81517874 108604243 117230515 105947875 102904475 88299966 76034500 88991890 829636804

TOTAL OF ABOVE 467519142 564250095 601187353 702461898 715703308 664082457 605732638 505428913 484761755 5311127559

UI POOL A/C 28064405 40867460 91448881 83479867 -19460452 -7000537 5591260 126887258 96052473 445930615

NET PURCHASE 439454737 523382635 509738472 618982031 735163760 671082994 600141378 378541655 388709282 4865196944

Bilateral Purchase

LANCO 0 30529169 0 0 30529169

GLOBAL 5392707 0 0 0 5392707

PTC India Ltd 0 0 46462641 0 46462641

Reliance Energy Ltd. 0 0 79737013.6 139827566 219564580

TOTAL 5392707 0 0 0 0 0 30529169 126199655 139827566 301949097

Grand Total 444847444 523382635 509738472 618982031 735163760 671082994 630670547 504741310 528536848 5167146041

Given the above, the company expects to end the year with the following power purchase

quantum from various sources and their costs. These have been carefully evaluated taking into

account the source to procure as well as the costs associated with it.

The UI has been carefully excluded while calculating the purchases and the associated costs.

Projections are always based on the assumption of scheduled energy and their associated costs,

since inclusion of UI (which has varying rate depending on the real time situation in the grid)

would vitiate the cost of purchase.

The following table shows the quantum of energy from each source and their associated costs.

Unlike FY 06, when the PGCIL transmission costs and the ULDC/ NERLDC costs are also

included, the current year makes a departure, as set out in the Tariff order of FY 07. we request

AERC to reconsider its decision on inclusion of PGCIL charges and ULDC/ NERLDC charges

in AEGCL books.

With evolving industry structure elsewhere in the country and the expected move by the State

towards a competitive industry structure, the Distribution companies would ultimately enter into

Transmission Agreements with respective inter-state or state transmission companies. In which

case, their logical inclusion would be either in the books of ASEB or in distribution companies.

As argues, they are anyway being separately calculated and can be directly included in the

Distribution companies accounts.

The PGCIL loss has been included in the energy accounting, else the loss calculation becomes

difficult to reconcile by AEGCL, which has no access to those energy accounts.



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3.3. Energy purchased and Cost – entire year FY 2006-07

Table 6: Expected energy procurement for FY 07 and the associated costs MU Rs Crores

APGCL - Generation 799.617 204.82

DLF 108.146 26.28

NeepCO

Kopili - I 429.853 32.21

Kopili - Free share 45.908

Khandong 99.989 10.55

Khandong - Free share 10.166

Kopili - II 53.551 12.33

Kopili -ii Free share 6.499

RHEP 530.633 125.78

DHEP 102.033 35.31

Sub Total 1,278.631 216.18

AGBPP 981.008 245.83

AGTPP 277.591 64.72

NeepCo 2,537.230 526.73

NTPC 438.274 76.06

NHPC 167.308 27.41

MeSEB 8.494 2.79

Net Imports 37.990 41.26

GRAND TOTAL 4,097.058 905.36

Less: Losses to PGCIL 153.067 -

Less: State Sale

Less: UI 152.028 44.59

Input to AEGCL 3,791.963 860.76

As stated earlier, UI energy and UI charges have been based on the actual up to December 06

and have not been considered in the projections. The imports are net of sales carried out in the

months of June to September 06.

The position of FY 07 is compared with the Tariff order in the following pages. The company

request AERC to consider the provisional numbers for first correction, as per the Regulatory

True up mechanism proposed in the previous tariff orders.



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3.4. Comparison of MU– Tariff Order FY 07 & Final Position for FY 07

Table 7: Energy handled from various sources in MU in comparison with Tariff Order 07

Source Station

Tariff

Order Mu

Actual

(MU)

NTPS 560.51 350.83

LTPS 496.69 448.79

Sub-total(A) 1057.2 799.62

Doyang 95.41 102.03

Kopili-1 500.06 475.76

Kopili-2 38.66 60.05

Khandong 150.98 110.15

Ranganadi 627.42 530.63

Kameng

Pareh

Hydro Total 1412.53 1278.63

AGBPP 1181.38 981.01

AGTPP 268.84 277.59

Thermal Total 1450.22 1258.60

Sub-total 2862.75 2537.23

NHPC Loktok 125.05 167.31

NTPC NTPC 438.27

Sub-total 125.05 605.58

Adamtila 50.81

Baskandi 90.21

Sub-total 141.02 108.15

MeSEB Sub-total 7.8 8.49

LANCO 7.67

GLOBAL 1.28

PTC India Ltd 9.06

Reliance Energy Ltd. 58.33

NVVN 4.05

WBSEB 6.90

Sub-total 27.08 87.30

Grand Total 4220.9 4146.37

Less: Export of Off peak surplus 64.86

Total 4081.51

Less: UI 152.03

Less: PGCIL 114.61 153.10

Net Handled 4106.29 3776.38

APGCL

NEEPCO

DLF

Bilateral

purchase

The energy position remained grim with lower than expected generation from APGCL mainly

due to shortage of fuel availability. This is also reflected in lower generation from Kathalguri

station (AGBPP). Compounded with this is the lower generation from hydel sources caused by

lower hydrological flows.

The net shortage was managed largely to buying from NTPC (Talcher, Farakka and Kahalgaon)

stations. It had enabled the state to tide over the energy requirement though the net energy was

marginally lower than the targeted figure.

The company had a net UI income to the extent of Rs 45 crores during the year. The following

table highlights the net impact of cost in Rs crores on account of the high level of volatility,

explained above.

(MU)



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3.5. Comparison of Rs Crores– Tariff Order FY 07 & Final Position for FY 07

Table 8: Impact of changes in Power purchase in Rs Crores Rs crores

Source StationTariff

Order Mu

Tariff

OrderActual Difference

NTPS 560.51

LTPS 496.69

Sub-total(A) 1057.2 180.17 204.82 (24.65)

Doyang 95.41 22.09 35.31 (13.22)

Kopili-1 500.06 33.87 32.21 1.66

Kopili-2 38.66 8.56 12.33 (3.77)

Khandong 150.98 10.66 10.55 0.11

Ranganadi 627.42 96.61 125.78 (29.17)

Kameng

Pareh

Hydro Total 1412.53 171.79 216.18 (44.39)

AGBPP 1181.38 198.50 245.83 (47.33)

AGTPP 268.84 47.07 64.72 (17.65)

Thermal Total 1450.22 245.57 310.55 (64.98)

Sub-total 2862.75 417.36 526.73 (109.37)

NHPC Loktok 125.05 12.85 27.41 (14.56)

NTPC NTPC 0.00 76.06 (76.06)

Sub-total 125.05 12.85 103.47 (90.62)

-

Adamtila 50.81 10.26 - 10.26

Baskandi 90.21 18.27 - 18.27

Sub-total 141.02 28.53 26.28 2.25

MeSEB Sub-total 7.8 2.34 2.79 (0.45)

LANCO 0.00 3.05 (3.05)

GLOBAL 0.00 0.54 (0.54)

PTC India Ltd 0.00 7.12 (7.12)

Reliance Energy Ltd. 0.00 21.96 (21.96)

NVVN 0.00 1.90

WBSEB 0.00 4.02

Sub-total 27.08 9.66 38.59 (28.93)

Grand Total 4220.9 650.91 902.69 (251.78)

Less: Export of Off peak surplus 35.05

Total 867.63

Less: UI 44.59

Less: PGCIL 114.61

Net Handled 4106.29 650.91 823.04 (172.13)

APGCL

NEEPCO

DLF

Bilateral

purchase

Wide variation of cost with respect to Power Purchase from some Stations are enumerated

below:

� NHPC for Loktak Power Station raised supplementary bills for FY 2004-05 and FY

2005-06 and also provisional bill for the month of Oct-2006 including impact of IIIrd

instalment of MAT as per CERC order dated 04-10-2006.

� Fuel price adjustment bill for the FY 2003-04, FY 2004-05 and FY 2005-06 based on

actual landed cost of fuel against AGBPP and AGTPP as per audit certificate raised by

NEEPCO in accordance with CERC order dated 09-09-2005 for AGTPP and order dated

22-08-2005 for AGBPP.

� Supplementary bill against AGBPP for the month of Nov-03 to Mar-04 raised by

NEEPCO as per CERC order dated 14-12-2006 on petition no. 33/2003.

Refer

Annexure VI



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� Supplementary energy bill on account of generation tariff for the month of Nov-03 to

Mar-04 against RHEP and DHEP raised by NEEPCO as per Interlocutory application

No. 187 of 2006 in appeal No. 17 of 2006 order dated 14-12-2006.

� Arear bill of fees and charges for ULDC scheme in NER in respect of ASEB from Aug-03

to Dec-05 raised by PGCIL.

3.6. Reasons for additional cost of power purchase

The additional generation cost of APGCL has been set out in detail in the petition filed by that

company before AERC. It has been largely caused owing to higher cost of gas, VAT on the gas

and also lower calorific value of the fuel used. This is accounted for in the ASEB account, since

APGCL (on approval by AERC) would pass the same through the tariff to ASEB.

Bad monsoon had resulted in lower hydro generation for the year. Even though hydro generation

is lower, the fixed costs had to be paid to NEEPCO. Similarly, the increase in gas cost and gas

shortage has necessitated importing power from costlier sources. The additional cost on account

of these factors is ~ Rs 52 crores.

The additional cost on account of buying from NTPC is ~ RS 91 crores (to mitigate the shortage

of power in the system).

Moreover, the rate of bilateral purchases (additional quantum of ~ 76 MU not envisaged in the

Tariff order) was at ~ Rs 4.42/ kWh. The AERC had considered the bilateral purchases at

Rs 3.57 / kWh (at ~ 27 MU). The combined effort of these factors resulted in a higher power bill

of ~ Rs 43 crores.

Thus the total of variance as listed above, have resulted in a net increase of ~ Rs 186.00 crores in

the power purchase costs.

The factors that have caused the increase in power purchase were entirely beyond the control of

the ASEB and hence need to be recovered in the coming year/ years. The Board itself has been

diligent in trying to mitigate the circumstances but was unable to do so in the event of such

natural causes.

As per the National Tariff Policy power purchase is uncontrollable and need to be passed on to

the consumers. The Commission precedents in this regard, within the State and elsewhere has

also shown that the causal factors that are beyond the control of the licensee/ utility need to be

passed on in the tariff.

It may be mentioned here that the power import and export have been made through a

transparent procedure such as open tender etc.

Details of additional power purchase from trader and mode of fixation of rates are illustrated in

Annexure III.

Hence the company requests the AERC to consider the loss suffered by the Board/ licensee and

adjust it in the first correction to the FY 07 numbers.



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3.7. Income and Expenditure estimation

The income and expenditure for the company has been derived from the following assumptions.

Income has been based on the expected generation (as detailed above) and is based on the actual

position of generation up to January 07 and the projections for the subsequent two months.

In case of expenses, the actual expenditure for the first 6 months was collected and for the

balance 6 months, these were extrapolated using the certain key assumptions.

Other debits include the Provision for bad and doubtful debts as allowed by the AERC.

3.7.1. Operations

Table 9: Assumptions for various heads 06-07

Inflation

ST PLR - SBI as of April 1,06 9.50%

R&M Expense 20%

Employee Expenses 10%

A&G Expense 6%

ROE 14%

Provision for bad and doubtful debts % of revenue 1%

Current Assets - per AERC

O&M expenses 8.33%

Maintenance spares 1% 6%

Receivables Against Sale Of Power 16.67%

Power Purchase Payable 4.11%

Depreciation Rates applicable for

Vehicles 18.00%

Furniture& Fixtures 6.00%

Office Equipment 6.00%

Interest rate for Investment income 6.5%

Sale rate for Trade Rs/kWh Actual

The following tables highlights the individual details of each expense based on the assumptions

set above.

3.7.2. Repairs & Maintenance

Table 10: Repairs and Maintenance

Rs Crores

FY 06 FY 07

Development charges 31.57 -

Buildings - -

Civil Works - -

Hydraulic Works - -

Lines, Cable Networks - -

Vehicles - -

Furniture & Fixture - -

Office Equipment - -

Total : 31.57 -



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The previous year amount is on account of development charges, allowed to ASEB and as this

was discontinued, no more expense has been booked under this head and also no further

estimations are made. As such, being a single buyer, the company is no longer associated with

any hardware except to the extent of office equipment and certain vehicles and furniture needed

to run its business of buying power.

3.7.3. Employee Expenses

Table 11: Employee expenses for FY 07 Rs Crores

FY 06 FY 07

Salaries 0.29 0.32

Overtime - -

Dearness Allowance - -

Other Allowances - -

Bonus 0.08 0.09

Medical Allowances 0.04 0.04

Leave Travel Assistance 0.00 0.01

Earned Leave Encashment - -

Workmen Compensatory Payment - -

Other Staff Cost - -

Staf Welfare Expenses - -

Terminal Benefits 26.74 0.03

Sub Total : 27.15 0.48

Less : Capitalisation - -

Total : 27.15 0.48

Current year increase in employees costs are due to merger of DA into Basic pay effected during

December 06 as well as normal hike due to pay increases etc. estimation includes terminal

liabilities to be funded.

During the previous year, the additional 8.2 p/ kWh allowed by AERC towards funding of the

past terminal liabilities of employees has been removed from ASEB accounts and is added to the

AEGCL accounts. Hence the employee costs have shown a variation as compared to the previous

year.

Details of actual funding of terminal liabilities are depicted in Annexure IV.

3.7.4. Administration & General Expenses

Table 12: Administration & General Expense Rs Crores

FY 06 FY 07

Rent, Rates & Taxes 0.10 0.10

- -

Telephone Charges 0.06 0.07

Postage & Telegram 0.01 0.01

Legal Charges 0.28 0.30

Conveyance 0.09 0.09

Other Expenses 0.41 0.44

Sub Total : 0.96 1.01

Less : capitalised -

Total : 0.96 1.01



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Administration and General expense (based on the past trend) is expected to increase by 6% for

the year over the base for FY 06.

3.7.5. Other income

Table 13: Other Income

Rs Crores

FY 06 FY 07

Interest on Staff Loans and advances 0.00 0.00

Income from Investment 0.02 0.02

Interest from Banks (Except Fixed Deposit) 0.02 0.02

Incentive recd/ Income from Trading 0.39 0.40

Miscellaneous recipts (0.00) (0.00)

Total : 0.43 0.44

Other income in the table above, excludes interest on investments parked by the company at an

average rate of 6.5% only estimated at ~0.03 crores.

3.7.6. Depreciation

Table 14: Depreciation Rs Crores

FY 06 FY 07

Land & Rights - -

Building - -

Hydraulic - -

Other Civil Works - -

Plant & Machinery - -

Lines & Cable Net work - -

Vehicles - -

Furniture& Fixtures - 0.08

Office Equipment - 0.08

Capital Spares at Generating Stations - -

-

Total - 0.17

Depreciation has been calculated using the schedule as prescribed by the AERC (attached to the

Terms and Conditions of determination of tariff regulations 2006). Analysis of the trial balance

under each function head has been carried out and the weighted average rate has been calculated

and used for calculations. Depreciation on assets commissioned in a year is charged at the

average balance for the year (since they could be commissioned at different dates).

Detailed assessment has been carried out on the opening loan balances, interest payable on them

as well as the principle repayments associated with them. Interest on loans borrowed for capital

investment is capitalised till the assets are put to use. Interest also includes a component for the

normative working capital as set out by the AERC. The interest has been computed at the

assumed Short Term PLR rate of SBI at beginning of the financial year.



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3.7.7. AAD Calculations

In case of years, where the depreciation charge is not adequate for debt servicing, then Advance

Against Depreciation (“AAD”) has been calculated and added to the depreciation rate. Should

this also prove inadequate, then a separate cash charge has been requested to ensure that the

Company has adequate funds for debt servicing.

. For Eg. The company i.e. APGCL has no other separate income and if the debts and interest on

debts are not serviced timely even for the closed stations, then there is a likelihood of the banks/

FI’s asking for attachment/ sale of other assets of the company.

This is another instance, where the Board/ Licensee is requesting AERC to reconsider its

decision on the depreciation and interest to be allowed for BTPS and CTPS, by taking a look at

the company as a whole.

Table 15: AAD for FY 07 Rs Crores

FY 06 FY 07

Original depreciation 0.01

AAD 0.16

Additional for debt servicing 0.15

Total 0.32

3.7.8. Interest

Table 16: Interest & Financing Charges Rs Crores

Interest Calculation 06-07

Existing Loans 0.32

New Loans -

Less: capitalised -

Total 0.32

Interest on Normative Working capital 10.07

Interest on Security deposits -

Grand Total 10.39

Table 17: Interest on Normative working capital Rs Crores

FY 07

One month fuel cost -

One month approved O&M cost 0.12

Maintenance Spares-1% of GFA 0.00

Two month Receivables 105.86

Total 105.99

Interest @ ST PLR 10.07

Based on the above details, the current position of the company for the year ending FY 07 is

presented below.



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3.7.9. Profit & Loss account

Table 18 : Profit and Loss Account – FY 07 Power Purchase Rs crores

Energy Available at interface point (MU)

Sale of Power (MU) 3,776.37

Average Cost of Supply (in paise)

INCOME

Revenue from tariffs & Miscell. Charges 635.18

RE subsidy from Govt.

Total 635.18

Expenditure

Power Purchase 823.04

Trans charges -

Trans charges for PGCIL -

R&M Expense -

Employee Expenses 0.48

A&G Expense 1.01

Depreciation 0.17

Interest & Finance Charges 10.39

Less: Interest & other expenses capitalised -

Other Debits (incl. Prov for Bad debts, int on borrowing )7.95

Extraordinary Items

Other (Misc.)-net prior period credit

Total 843.04

ROE 14%

Other Income 0.47

Provision for taxes -

Annual Revenue Requirement (2)+(3)+(5)-(4) 842.57

Surplus(+) / Shortfall(-) : (1)-(6) (207.39)

The income for the current year is based on the quantity generated at the rates as approved in the

Tariff Order for FY 07. Interest and finance charges include Rs 10.07 crores on account of

interest calculated on normative working capital allowed by the AERC. Similarly the provision

for bad and doubtful debts @1% of the revenue has been included in the other debits head. These

are allowable as pass through by Commission and hence included in the actual to reflect the

ARR.

3.7.10. Tariff Order comparison

Table 19: FY 07 Position as compared to Tariff Order Rs crores

Tariff OrderActuals

Sale of Power (MU) 3,559.37 3,776.37

Average Cost of Supply (in paise)

INCOME

Revenue from tariffs & Miscell. Charges 595.03 635.18

RE subsidy from Govt.

Total 595.03 635.18

Expenditure

Power Purchase 650.91 823.04

Trans charges -

Trans charges for PGCIL -

R&M Expense -

Employee Expenses 1.30 0.48

A&G Expense 0.85 1.01

Depreciation - 0.17

Interest & Finance Charges 8.94 10.39

Less: Interest & other expenses capitalised - -

Other Debits (incl. Prov for Bad debts, int on borrowing ) 53.09 7.95

Extraordinary Items


Total 715.08 843.04

ROE 14%

Other Income 120.04 0.47

Provision for taxes - -

Annual Revenue Requirement (2)+(3)+(5)-(4) 595.04 842.57

Surplus(+) / Shortfall(-) : (1)-(6) (0.01) (207.39)



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As explained earlier, the major difference in the loss is caused due to the Rs 186 crores deficit in

the power purchase on account of hydro failure/ gas shortage and consequential purchase from

coal based stations and traders.

Further, according to the Tariff order, the company was expected to earn a trading income of Rs

111 crores, based on the assumption that around 424 MU is available for such trading. However,

due to the circumstances explained, the company had no significant surplus but is expected to

end up in shortages during the past 9 months.

The position is not expected to change in the coming three months either, as typically these are

lean months of hydro generation and more power is expected to be pumped in to meet the

requirements. Usually, the state peak occurs in March and this year, the peak is expected to touch

~ 800 MW.

The following table sets out the surplus/ deficit in energy in terms of availability and

requirement.

3.7.11. Surplus/ Deficit comparison in MU- Tariff order vis-à-vis Actuals

Table 20: Surplus/ Deficit position as compared to Tariff Order

Energy Availability Vs Demand - Actual

Month

Total

Availabi

lity

Total

Requirem

ent

Deficit Surplus

Availability Requirement Deficit

April 266.64 266.638 0 0 244.404 291.874 47.470

May 276.33 276.334 0 0 292.324 341.724 49.400

June 367.3 300.573 0 66.725 328.603 354.357 25.754

July 412.18 316.087 0 96.094 363.682 382.800 19.118

August 401.4 313.178 0 88.219 364.043 395.991 31.948

September 341.44 337.418 0 4.027 332.609 375.675 43.066

October 352.17 322.874 0 29.298 324.095 339.394 15.299

November 288.04 315.117 -27.08 0 319.510 328.031 8.521

December 320.49 306.391 0 14.101

January 314.93 275.364 0 39.569

February 294.22 264.698 0 29.52

March 321.52 264.698 0 56.823

Total 3956.7 3559.369 -27.08 424.376 2,569.270 2,809.845 240.575

Statement of Monthly Surplus and Deficit (MU) As per Tariff Order

Thus the entire loss has been caused by factors beyond the control of the company and the

company requests AERC to allow these as pass through in the subsequent year’s tariff as part of

regulatory true-up mechanism.

However, in case there is no tariff head room (as the subsequent year show higher pressures from

power purchases), the company request AERC to consider creating a “Regulatory Assets” which

is nothing but a deferred expenditure/ loss to be recovered over a period of two to three years.

This would avoid tariff shocks to consumers.

However, AERC should allow interest & financing charges to carry the same in books, as it costs

the company money to carry the same (in borrowing short term at higher rates or in deferring the

power payables and incur higher penalties in form of delayed payment surcharges). It would be

better monetised as short term bonds and attract a lower interest rate subject to credit ratings.

Credit ratings can be enhanced if adequate cash flows can be shown to service the debt (usually

evaluated by the commonly used acronym DSCR – debt service coverage ratio)



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4. Projected ARR for FY 07-08 to FY 09-10

4.1. Multi- year framework

As per the Terms and conditions for filing this ARR, AERC has introduced (following the

National Tariff Policy) of introducing multi-year regime of tariff fixation principles. Under this

regime, we understand that certain expenses would be deemed to be “controllable” by the

company and hence negative deviation would be to the loss of the company. Similarly, the

positive effect can be retained largely with the company (as propounded in the National Tariff

Policy) and the spill over would be to the gain of the consumer.

However, under the Terms and conditions of the Tariff regulations 2006, the company is to file

for the review of tariff every year. In a current situation like the one facing the company (large

pressure of adverse hydro thermal mix, poor availability of fuel for its portfolio of generators

etc) annual tariff fixation would be of great help in ensuring that the costs are recovered without

time delays.

It may be worthwhile for the AERC to also propose a shorter duration mechanism of allowing

for power purchase quantum variation (caused by the change in thermal-hydro mix) as well as

the fluctuations in the fuel price. This could be quarter or half year depending on the view taken

by the AERC.

Every quarter/ half year (as AERC may decide)

• Variation in power purchase due to bad monsoon/ gas shortages, additional imports

etc to be calculated and compared with the approved quantum in the tariff order

• Based on the above calculation, the costs would be compared with the approved

costs of the tariff order

• The difference is the power purchase adjustment to be recovered from the tariff (for

generators this is a fuel price adjustment, whereas for trader this is a power purchase

adjustment) in say monthly instalments from then on and to be disclosed separately as

such.

Even as per the National Tariff Policy, such “uncontrollable” items should be allowed to be

recovered within very short term so as to ensure that the financial viability of the company is not

harmed.

4.2. Assumptions

Similar assumptions, as listed for the year FY 07, ARR for FY 07-08 to FY 09-10 (the three

years for which ARR is requested to be presented) are used on a rolling base of the previous

year. This ensures that the inflationary trend is adjusted and the company is not adversely

affected.

The detailed assumptions are listed below. In case of employee expenses, it is expected that by

the year FY 08-09 there would be a pay revision and hence an expected 30% increase has been

considered for that year.



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Table 21: Assumptions for FY 2007-08 to FY 2009-10 07-08 08-09 09-10

Inflation 6% 6% 6%

ST PLR - SBI as of April 1,06 9.50% 9.50% 9.50%

R&M Expense 6% 6% 6%

Employee Expenses 10% 30% 10%

A&G Expense 6% 6% 6%

ROE 14% 14% 14%

Provision for bad and doubtful debts % of revenue 1% 1% 1%


O&M expenses 8.33% 8.33% 8.33%

Maintenance spares 1% 6% 6% 6%

Receivables Against Sale Of Power 16.67% 16.67% 16.67%

Power Purchase Payable 8.33% 8.33% 8.33%


Vehicles 18.00%



Interest rate for Investment income 6.5% 6.5% 6.5%

Sale rate for Trade Rs/kWh 4.1 4.1 4.1

4.3. Operations

During the 3 year period, if there are cash shortages, then such shortages are met through short

term cash borrowings. It will be repaid on adequate availability of cash. The interest component

on this is not included in the ARR and hence to the account of Company. There are no repairs

and maintenance expenses associated for the single buyer.

As the company has requested for Advance against depreciation in the FY 07, the assets are fully

depreciated up to 90% of their value and hence this AAD is not available for the company.

However, the company still requires around Rs 0.31 lakhs per year towards debt servicing. This

has been included for recovery through tariffs. Consequentially there is no “depreciation”

charges proposed in ARR for FY 08 to FY 10.

4.4. Employee Expenses

Table 22: Employees Expenses for FY 2007-08 to FY 2009-10 Rs Crs

FY 08 FY 09 FY 10

Salaries 0.35 0.46 0.50

Overtime - - -

Dearness Allowance - - -

Other Allowances - - -

Bonus 0.10 0.13 0.14

Medical Allowances 0.04 0.06 0.06

Leave Travel Assistance 0.01 0.01 0.01

Earned Leave Encashment - - -

Workmen Compensatory Payment - - -

Other Staff Cost - - -

Staf Welfare Expenses - - -

Terminal Benefits 0.03 0.04 0.04

Sub Total : 0.53 0.68 0.75

Less : Capitalisation

Total : 0.53 0.68 0.75



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4.5. Administration and General Expenses

Table 23: Administration and General Expenses for FY 08 to FY 10 Rs Crs

FY 08 FY 09 FY 10

Rent, Rates & Taxes 0.11 0.11 0.12

- - -

Telephone Charges 0.07 0.08 0.08

Postage & Telegram 0.01 0.01 0.01

Legal Charges 0.32 0.34 0.36

Conveyance 0.10 0.11 0.11

Other Expenses 0.46 0.49 0.52

Sub Total : 1.07 1.14 1.21

Less : capitalised

Total : 1.07 1.14 1.21

Table 24: AAD for FY 08 to FY 10 Rs crs

FY 08 FY 09 FY 10

Original depreciation 0.01 0.01 0.01

AAD (0.01) (0.01) (0.01)

Additional for debt servicing 0.32 0.32 0.32

Total 0.32 0.32 0.32

4.6. Other Income

Table 25: Other Income Rs Crs

FY 08 FY 09 FY 10

Interest on Staff Loans and advances 0.00 0.00 0.00

Income from Investment 0.02 0.02 0.02

Interest from Banks (Except Fixed Deposit) 0.02 0.02 0.02

Incentive recd/ Income from Trading 0.40 0.40 0.41

Miscellaneous recipts (0.00) (0.00) (0.00)

Total : 0.44 0.44 0.45 Other income table above, excludes interest on investments estimated at Rs 0.03 crores

4.7. Interest

Table 26: Interest & Financing Charges Rs Crores

Interest Calculation 07-08 08-09 09-10

Existing Loans 0.29 0.25 0.22

New Loans - - -

Less: capitalised - - -

Total 0.29 0.25 0.22

Interest on Normative Working capital 13.09 14.21 16.26

Interest on Security deposits - - -

Grand Total 13.37 14.46 16.47



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Table 27: Interest on Normative working capital Rs crs

FY 08 FY 09 FY 10

One month fuel cost - - -

One month approved O&M cost 0.13 0.15 0.16

Maintenance Spares-1% of GFA 0.00 0.00 0.00

Two month Receivables 137.63 149.43 170.96

Total 137.77 149.58 171.12

Interest @ ST PLR 13.09 14.21 16.26 The following table sets out the financial projections for the 3 years and the expected tariff to be

realised.

4.8. Profit & Loss account

Table 28: Profit and Loss Account for FY 08 to FY 10 Rs Crs

FY 08 FY 09 FY 10

Sale of Power (MU) 4,127.43 4,579.47 5,147.44

INCOME

Revenue from tariffs & Miscell. Charges 825.80 896.59 1,025.73

Total 825.80 896.59 1,025.73

Expenditure

Power Purchase 798.80 866.98 992.39

Trans charges - - -

Trans charges for PGCIL - - -

R&M Expense - - -

Employee Expenses 0.53 0.68 0.75

A&G Expense 1.07 1.14 1.21

Depreciation - - -

Interest & Finance Charges 13.37 14.46 16.47

Less: Interest & other expenses capitalised - - -

Other Debits 11.21 12.46 14.33

Extraordinary Items


Total 824.98 895.72 1,025.16

ROE 14%

Other Income 0.47 0.48 0.48

Provision for taxes 0.43 0.45 0.36

Annual Revenue Requirement 824.94 895.70 1,025.03

Surplus(+) / Shortfall(-) 0.85 0.89 0.70

As explained earlier, the interest charges include the interest on normative working capital and

other debits include provision for bad and doubtful debts.

4.8.1. Projected ARR

As mentioned earlier, the interest on these borrowings are not included in ARR and hence reflect

as short fall uncovered by ARR inflows.



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Table 29: ARR for FY 08 to FY 10

07-08 08-09 09-10

Fixed Power charges 422.94 471.55 606.51

Variable Power charges 375.93 395.51 385.96

Operations & Maintenance

Employees cost 0.53 0.68 0.75

Repairs & maintenance - - -

Administrative & General Expenses 1.07 1.14 1.21

Depreciation - - -

Provision for doubtful debts 8.26 8.97 10.26

Interest and Financing Charges 13.37 14.46 16.48

Income Tax payment to Generators 3.49 4.07 4.46

Taxes on Income 0.43 0.45 0.36

TOTAL 27.16 29.78 33.51

Less: Other Income 0.47 0.48 0.48

ARR of Trader

Demand Costs 449.63 500.85 639.54

Energy Related Costs 375.93 395.51 385.96

825.56 896.35 1,025.50

Recovery Basis

Energy Transmissted in Mu

UAEDCL 1,201.63 1,337.21 1,503.22

CAEDCL 1,060.02 1,179.62 1,326.06

LAEDCL 1,614.01 1,796.12 2,019.10

Uniform BST - Rs/ kWh 2.13 2.08 2.12

Different BST - Rs/ kWh

UAEDCL 2.46 2.40 2.45

CAEDCL 1.63 1.59 1.62

LAEDCL 2.21 2.16 2.20

Considering the approach taken by AERC in the past tariff order, the impact of equalizing the profitability

across the three distribution companies is shown above for the tariff periods FY 2007-08 to FY 2009-10.

This approach can be revisited, once the companies start making profits.

However in equalizing the overall profits/ losses, the approach followed is that all the companies will

make equal profit or loss based on the weights of input energy.

4.9. Incentives

The company accepts that the incentives proposed in the Terms and Conditions for tariff filing viz. cap on

the Return on Equity to be adequate.

This is assumed that AERC considers the company’s request for total depreciation for all stations to be

passed through and AAD for debt servicing is adequately worked into the tariffs. Should AERC not

consider the depreciation for BTPS and CTPS, it should allow for additional funds for debt servicing and

not affect the debt servicing of the company.



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5. Business Plan – FY 07 to FY 12

5.1. Assumptions

As per AERC’s directives, the five year’s business plan between FY 07-08 to FY 11-12 has also

been included in this petition. These are the best estimates that are based on the current

expectation of the possible scenario. We would like to caution that there could be large macro-

economic factors and natural factors (like bad hydrology, severe floods or drought) can

drastically change these projections.

Assumptions, as taken for FY 07 to FY 10 are taken for the business plan also and further two

years assumptions are presented below:

Table 30: Assumption for FY 07 – FY 12 07-08 08-09 09-10 10-11 11-12

Inflation 6% 6% 6% 6% 6%

ST PLR - SBI as of April 1,06 9.50% 9.50% 9.50% 9.50% 9.50%

R&M Expense 6% 6% 6% 6% 6%

Employee Expenses 10% 30% 10% 10% 10%

A&G Expense 6% 6% 6% 6% 6%

ROE 14% 14% 14% 14% 14%

Provision for bad and doubtful debts % of revenue 1% 1% 1% 1% 1%


O&M expenses 8.33% 8.33% 8.33% 8.33% 8.33%

Maintenance spares 1% 6% 6% 6% 6% 6%

Receivables Against Sale Of Power 16.67% 16.67% 16.67% 16.67% 16.67%

Power Purchase Payable 8.33% 8.33% 8.33% 8.33% 8.33%


Vehicles 18.00%



Interest rate for Investment income 6.5% 6.5% 6.5% 6.5% 6.5%

Sale rate for Trade Rs/kWh 4.1 4.1 4.1 4.1 4.1



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5.2. Energy purchased

Table 31: Power handled between FY 07-FY12

07-08 08-09 09-10 10-11 11-12

APGCL - Generation 1,476.335 1,747.034 2,037.348 2,231.727 2,284.805

NeepCO

Kopili - I 470.059 470.059 470.059 470.059 470.059

Kopili - Free share57.611 57.611 57.611 57.611 57.611

Khandong 141.903 141.903 141.903 141.903 141.903

Khandong - Free share16.492 16.492 16.492 16.492 16.492

Kopili - II 36.341 36.341 36.341 36.341 36.341

Kopili -ii Free share5.126 5.126 5.126 5.126 5.126

RHEP 551.378 551.378 551.378 551.378 551.378

DHEP 83.844 83.844 83.844 83.844 83.844

Sub Total 1,362.754 1,362.754 1,600.754 1,642.754 2,417.847

AGBPP 1,089.960 1,123.670 1,123.670 1,123.670 1,123.670

AGTPP 250.674 258.427 258.427 258.427 258.427

NeepCo 2,703.388 2,744.850 2,982.850 3,024.850 3,799.943

NTPC 859.150 855.530

NHPC 109.562 109.562 109.562 109.562 109.562

Trading NE 7.800 7.800 7.800 7.800 7.800

ER 120.000 120.000 120.000 120.000 120.000

NERB - - - - -

Other imports/ (exports) (177.140) (35.287) 13.893 (208.193) (208.193)

- - - -

GRAND TOTAL 4,239.944 4,693.958 5,271.453 6,144.896 6,969.447

Less: Losses to PGCIL 112.518 114.488 124.008 160.054 190.913

Less: State Sale

Less: UI

Input to AEGCL 4,127.426 4,579.470 5,147.444 5,984.841 6,778.533



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5.3. Power purchase costs

Table 32: Power Purchase cost for FY 07-FY 12 Amount in Rs Crores

07-08 08-09 09-10 10-11 11-12

APGCL - Generation 329.18 394.34 463.94 538.48 734.23

NeepCO

Kopili - I 26.69 26.69 26.69 26.69 26.69

Kopili - Free share

Khandong 10.53 10.53 10.53 10.53 10.53

Khandong - Free share

Kopili - II 4.78 4.78 4.78 4.78 4.78

Kopili -ii Free share

RHEP 85.02 85.02 85.02 85.02 85.02

DHEP 21.43 21.43 21.43 21.43 21.43

Sub Total 148.44 148.44 200.80 210.04 380.56

AGBPP 228.15 230.52 230.52 230.52 230.52

AGTPP 47.35 48.00 48.00 48.00 48.00

NeepCo 423.94 426.97 479.33 488.57 659.09

NTPC 191.25 190.44

NHPC 13.94 13.94 13.94 13.94 13.94

Trading NE 2.48 2.48 2.48 2.48 2.48

ER 29.26 29.26 29.26 29.26 29.26

NERB - - - - -

Other imports/ (exports) - - 3.45 - -

GRAND TOTAL 798.80 866.98 992.39 1,263.97 1,629.43

5.4. Profit and Loss account

Table 33: Profit and Loss account for FY 07 to FY 12 Rs Crs

07-08 08-09 09-10 10-11 11-12

Sale of Power (MU) 4,127.43 4,579.47 5,147.44 5,984.84 6,778.53

INCOME

Revenue from tariffs & Miscell. Charges 825.80 896.59 1,025.73 1,304.58 1,674.96

Total 825.80 896.59 1,025.73 1,304.58 1,674.96

Expenditure

Power Purchase 798.80 866.98 992.39 1,263.97 1,629.43

Trans charges - - - - -

Trans charges for PGCIL - - - - -

R&M Expense - - - - -

Employee Expenses 0.53 0.68 0.75 0.83 0.91

A&G Expense 1.07 1.14 1.21 1.28 1.36

Depreciation - - - - -

Interest & Finance Charges 13.37 14.46 16.47 20.86 26.69

Less: Interest & other expenses capitalised - - - - -

Other Debits 11.21 12.46 14.33 17.51 21.52

Extraordinary Items


Total 824.98 895.72 1,025.16 1,304.44 1,679.90

ROE 14%

Other Income 0.47 0.48 0.48 0.49 0.49

Provision for taxes 0.43 0.45 0.36 0.21 -

Annual Revenue Requirement 824.94 895.70 1,025.03 1,304.16 1,679.41

Surplus(+) / Shortfall(-) 0.85 0.89 0.70 0.42 (4.46)



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5.5. Balance Sheet

Table 34: Balance Sheet for FY 07 to FY 12

Rs Crores

07-08 08-09 09-10 10-11 11-12

Share Capital 99.84 99.84 99.84 99.84 99.84

Reserves & Surplus (215.51) (214.16) (213.10) (212.47) (216.93)

Total (115.67) (114.32) (113.26) (112.63) (117.09)

Loans From State Govt 2.54 2.22 1.91 1.59 1.27

Total 2.54 2.22 1.91 1.59 1.27

Contributions, Grants & Subsidies Towards Cost Of Capital Asssets- - - - -

Grand Total (113.13) (112.10) (111.36) (111.05) (115.82)

Net Fixed Assets:

A) Gross Block 0.19 0.19 0.19 0.19 0.19

B) Less:Accumulated Depreciation (0.17) (0.17) (0.17) (0.17) (0.17)

C) Net Fixed Assets 0.02 0.02 0.02 0.02 0.02

Total 0.02 0.02 0.02 0.02 0.02

Investments 0.53 0.53 0.53 0.53 0.53

Net Current Assets:

A. Current Assets, Loans & Advances

A) Inventories - - - - -

B) Receivables Against Sale Of Power 137.63 149.43 170.96 217.43 279.16

C) Cash & Bank Balances 70.97 65.88 55.55 32.02 0.16

D) Loans & Advances 0.03 0.03 0.03 0.03 0.03

E) Sundry Receivables 1.50 1.50 1.50 1.50 1.50

Total Of A 210.13 216.84 228.03 250.97 280.85

B. Current Liabilities And Provisions:

A) Security Deposit From Consumers - - - - -

B) Borrowings For Working Capital - - - - 4.19

C) Payments Due On Capital Liabilities 0.00 0.00 0.00 0.00 0.00

D) Other Current Liabilities 323.80 329.49 339.94 362.57 393.02

Total Of B 323.81 329.49 339.94 362.57 397.22

Net Current Assets (A - B) (113.68) (112.65) (111.91) (111.60) (116.37)

Grand Total (113.13) (112.10) (111.36) (111.05) (115.82)

Due to initial losses, the reserves and surplus of the company has turned negative and it is

expected that once the regulatory true-up is decided by AERC, this position is expected to be

corrected.



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6. Directives of AERC

Directives of the Commission in its Tariff Order for FY 2006-07 Sl No. Commission’s Directions Page No of TO Actions Taken To Date

or To be Taken

1 The Commission directs the entities to

complete the schemes under the

Development Fund within the original

or, extended date of completion, as

applicable. In case the entities fail to

fully implement the schemes in time, the

amount by which they fall short of the

approved amount of the scheme will be

deducted from the ARR of next year.

Table 'L' on 36 and 37 and 241

This issue has been

taken up by each

company.

8 The Commission directs that both ASEB

and DLF will file a report I 150 before

the Commission on the status of the

stations including constraints in fuel or

evacuation facilities, if any, along with

remedial measures within three months

from issue of this order

150 Refer Annexure-I

10 As per SLDC Report, the actual energy

injected into the ASEB grid in F.Y

2005-06 is 2533.34 MU. So 2533.34

MU may be considered as the actual

energy required in FY 2005-06.This

shows that there is a discrepancy of

48.92 MU. The Commission directs the

entity to submit a reconciliation of this

discrepancy within one month from the

date of the issue of this Tariff Order.

151 The provisional

numbers for 05-06 are

being presented to

Statutory auditors.

Reconciliation would

be presented along with

final audited numbers.

Further Directives of AERC in our response to their 2004-05 and 2005-06

Directives:

Sl

No.

Commission’s Directions Page No of TO Actions Taken To

Date or To be Taken

Clause 11.5 of 2005-06 Order Business plan has to be submitted by

30.11.2006 as the future generation and

improvement/deterioration in

operational efficiency will have direct

impact on the Multi year tariff proposal.

238 Business Plan for

ASEB has been

included in the Tariff

Petition.

Annexure details the replies filed before the AERC

7. Annual Statement of Accounts for FY 2005-06

Unaudited actual Annual Statement of Accounts for the FY 2005-06 for ASEB is furnished in

Annexure V.



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Annexure I: GM (Com-T)’s letter to AERC



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Annexure II: List of Hon’ ble Commission’s formats

List of Hon’ble Commission’s formats for which data has been furnished in

this Petition

As applicable for Transmission, Distribution Companies and ASEB Trader

Formats for which data has been

submitted

A1, A2, A3, D1, D2, D3, D4, D5, D6, D6A, D7, D8,

D9, D10, D11, D15, D16, D20, D21

Formats for which data was not

readily available

A4, D14, D17, D18, D18A, D19A, D23

Formats which are found not to be

relevant

D9A, D12, D13, D22, D24

Note: The data submitted as per the above formats has been incorporated in the petition either as

Tables or as Annexures.



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Form-A1

Ref Form-No PARTICULARS 2005-06 2006-07 2007-08 2008-09 2009-10

AT1/T1/D1 ENERGY AVAILABLE (MU)

AT2/T2/D2 ENERGY SOLD (MU) 3,484.42 3,791.96 4,127.43 4,579.47 5,292.35

INCOME

D2 REVENUE FROM SALE OF POWER 763.61 635.18 825.80 896.59 1,025.73

AT3/T3/D3 REV SUBSIDIES & GRANTS * 107.03 - - - -

AT4/T4/D4 OTHER INCOME 0.43 0.47 0.47 0.48 0.48

TOTAL 871.08 635.65 826.27 897.07 1,026.21

EXPENDITURE

AT1/D1 PURCHASE OF POWER 840.43 860.76 798.80 866.98 992.39

AT5/T5/D5 REPAIRS & MAINTENANCE 31.57 - - - -

AT6/T6/D6 EMPLOYEES COSTS 27.15 0.48 0.53 0.68 0.75

AT7/T7/D7 ADM & GENERAL EXPENSES 0.96 1.01 1.07 1.14 1.21

AT8/T8/D8 DEPRECIATION AND RELATED DTS - 0.17 - - -

AT9/T9/D9 INTEREST & FINANCE CHARGES 1.73 10.39 13.37 14.46 16.48

SUB-TOTAL 901.84 872.81 813.77 883.26 1,010.82

T10/D10 LESS: EXPENSES CAPITALISED: - - - - -

-INTEREST & FINANCE CHARGES CAPITALISED

-OTHER EXPENSES CAPITALISED

SUB-TOTAL - - - - -

AT11/T11/D11 OTHER DEBITS (0.04) 7.95 11.21 12.46 14.33

AT12/T12/D12 EXTRAORDINARY ITEMS

TOTAL EXPENDITURE 901.80 880.76 824.98 895.72 1,025.16

PROFIT (LOSS) BEFORE TAX (30.73) (245.11) 1.29 1.34 1.06

PROVISION FOR INCOME TAX 0.03 - 0.43 0.45 0.36

PROFIT (LOSS) AFTER TAX (30.76) (245.11) 0.86 0.89 0.70

AT13/T13/D13 NET PRIOR PERIOD CREDITS/ (debits) 27.51 - - - -

SURPLUS/DEFICIT(-) (3.25) (245.11) 0.86 0.89 0.70

AT17/T17/D17 NET ASSETS AT THE BEGINNING OF THE YEAR

(LESS CONSUMER'S CONTRIBUTION)

RATE OF RETURN

* The amount of Subsidy committed to be given by Government should alone be shown here.



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From-A2

(Rs in Crs)

Ref Form-No PARTICULARS

SOURCES OF FUNDS:

SHAREHOLDER'S FUNDS:

SHARE CAPITAL 99.84 99.84 99.84 99.84 99.84

RESERVES & SURPLUS 28.32 -216.80 -215.51 -214.16 -213.10

Total 128.16 -116.95 -115.67 -114.32 -113.26

AT9/T9/D9 LOAN FUNDS:

LOANS FROM STATE GOVT 3.18 2.86 2.54 2.22 1.91

LOANS FROM OTHERS- SECURED 0.00 0.00 0.00 0.00 0.00

LOANS FROM OTHERS- UNSECURED 0.00 0.00 0.00 0.00 0.00

Total 3.18 2.86 2.54 2.22 1.91

AT14/T14/D14 CONTRIBUTIONS, GRANTS & SUBSIDIES TOWARDS

COST OF CAPITAL ASSSETS 0.00 0.00 0.00 0.00 0.00

GRAND TOTAL 131.33 -114.10 -113.13 -112.10 -111.36

APPLICATION OF FUNDS:

NET FIXED ASSETS:

AT15/T15/D15 a) GROSS BLOCK 0.19 0.19 0.19 0.19 0.19

AT8/T8/D8 b) LESS:ACCUMULATED DEPRECIATION 0.00 -0.17 -0.17 -0.17 -0.17

AT16/T16/D16 c) NET FIXED ASSETS 0.19 0.02 0.02 0.02 0.02

AT17/T17/D17 d) CAPITAL WORK IN PROGRESS 0.00 0.00 0.00 0.00 0.00

e) ASSETS NOT IN USE 0.00 0.00 0.00 0.00 0.00

f) DEFERRED COSTS 0.00 0.00 0.00 0.00 0.00

g) INTANGIBLE ASSETS 0.00 0.00 0.00 0.00 0.00

TOTAL OF ( c) TO (g) 0.19 0.02 0.02 0.02 0.02

INVESTMENTS 0.53 0.53 0.53 0.53 0.53

SUBSIDY RECEIVABLE FROM GOVT. 0.00 0.00 0.00 0.00 0.00

NET CURRENT ASSETS:

A. CURRENT ASSETS, LOANS & ADVANCES

a) INVENTORIES 0.00 0.00 0.00 0.00 0.00

AT18/T18/D18 b) RECEIVABLES AGAINST SALE OF POWER 342.41 158.79 137.65 149.44 170.97

c) CASH & BANK BALANCES 43.91 17.65 70.96 65.87 55.54

d) LOANS & ADVANCES 0.03 0.03 0.03 0.03 0.03

e) SUNDRY RECEIVABLES 1.50 1.50 1.50 1.50 1.50

TOTAL OF A 387.85 177.96 210.13 216.84 228.03

B. CURRENT LIABILITIES AND PROVISIONS:

a) SECURITY DEPOSIT FROM CONSUMERS 0.00 0.00 0.00 0.00 0.00

b) BORROWINGS FOR WORKING CAPITAL 0.00 0.00 0.00 0.00 0.00

c) PAYMENTS DUE ON CAPITAL LIABILITIES 0.00 0.00 0.00 0.00 0.00

d) OTHER CURRENT LIABILITIES 257.23 292.61 323.81 329.49 339.94

TOTAL OF B 257.24 292.61 323.81 329.49 339.95

NET CURRENT ASSETS (A - B) 130.61 -114.65 -113.68 -112.65 -111.91

GRAND TOTAL 131.33 -114.10 -113.13 -112.10 -111.36

Note: For the projections of current assets and current liabilities, working showing the calculations along with assumptions

upon which they are based should be attached.

BALANCE SHEET AS AT THE END OF THE YEAR

2008-09 2009-102005-06 2006-07 2007-08



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Form A3

2005-06 2006-07 2007-08 2008-09 2009-10

CASH FLOW STATEMENT FOR THE YEAR

I Net Funds from Operations:

1 Net Funds from Earnings:

A. Profit before Tax and before Revenue - (245.11) 1.72 1.80 1.41

Subsidies & Grants - - - - -

Less: Income Tax payment during the year - - 0.43 0.45 0.36

Total of A - (245.11) 1.29 1.35 1.06

B. ADD: Debits to Revenue Account not requiring Cash

Outflow: - - - - -

(i) Depreciation - 0.17 - - -

(ii) Amortisation of Deferred Cost - - - - -

(iii) Amortisation of Intangible Assets - - - - -

(iv) Investment Allowance Reserve - - - - -

(v) Others, if any. - - - - -

Total of B - 0.17 - - -

C.LESS: Credits to Revenue Account not invloving

Cash Receipts: - - - - -

(i) Depreciation - - - - -

(ii) - - - - -

Total of C - - - - -

Net Funds from Earnings (A+B-C) - (244.94) 1.29 1.35 1.06

2 Contributions, Grants and Subsidies towards Cost of

Capital Assets - - - - -

3 Security Deposit from consumers - - - - -

4 Proceeds from disposal of Fixed Assets - - - - -

5 Total Funds from Operations (1+2+3+4) - (244.94) 1.29 1.35 1.06

6 Net Increase/(Decrease) in Working Capital: - - - - -

A. Increase/(Decrease) in Current Assets: - - - - -

a) Inventories - - - - -

b) Receivables against sale of power - (183.62) (21.15) 11.80 21.52

c) Loans and Advances - - - - -

d) Sundry Receivables - - - - -

Total of A - (183.62) (21.15) 11.80 21.52

- - - - -

B. Increase/(Decrease) in Current Liabilities: - - - - -

a) Borrowings for working capital - - - - -

b) Other Current liabilities - Power purchase - 35.38 31.20 5.68 10.45

- Others - - - - -

Total of B - 35.38 31.20 5.68 10.45

Net Increase/(Decrease) in Working Capital (A - B) - (219.00) (52.35) 6.12 11.07 7 Net Funds from Operations before Subsidies & - (25.95) 53.64 (4.77) (10.02)

Grants (5-6) - - - - - 8 Receipts from Revenue Subsidies and Grants - - - - -

Tot I Net Funds from Operations including Subsidies - (25.95) 53.64 (4.77) (10.02)

& Grants (7+8) - - - - -

II Net Increase /(Decrease) in Capital Liabilities: - - - - -

A. Fresh Borrowings: - - - - -

(a) State Loans - - - - -

(b) Foreign currency Loans/Credits - - - - -

( c) Other Borrowings - - - - -

Total of A - - - - -

B. Repayments: - - - - -

- - - - -

(a) State Loans - - - - -

(b) Foreign currency Loans/Credits - - - - -

( c) Other Borrowings - 0.32 0.32 0.32 0.32

Total of B - 0.32 0.32 0.32 0.32

Net Increase /(Decrease) in Capital Liabilities (A - B) - (0.32) (0.32) (0.32) (0.32)

III Increase/(Decrease) in Equity Capital - - - - -

IV Total Funds available for Capital Expenditure

(I+II+III) - (26.27) 53.32 (5.09) (10.33)

V Funds Utilised on Capital Expenditure: - - - - -

(a) On Projects - - - - -

(b) Advance to Suppliers and Contractors - - - - -

( c) Intangible Assets - - - - -

(d) Defered Costs - - - - -

Total of V - - - - -

VI Net Increase/(Decrease) in Investments - - - - -

VII Net Increase/(Decrease) in Cash & Bank Balance (IV -

V - VI) - (26.27) 53.32 (5.09) (10.33)

VIII Add: Opening Cash & Bank balances - 43.91 17.65 70.96 65.87

IX Closing Cash & Bank Balances (VII+VIII) - 17.65 70.96 65.87 55.54

CASH FLOW STATEMENT FOR THE YEAR

PARTICULARSSL

NO



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Form-D1/AT1/T1

Fixed

charges

Variable

charges

Total

See Details below:

TOTAL

* In the case of new units, pro-rata fixed charges shall be included.

Note: 1) Supporting working sheets showing the calculations for numbers used in this sheet as also listing all the assumptions upon

which they are based should be attached.

2) A separate statement showing the variable cost in the ascending order from different sources of power shall be attached.

Any deviation from merit order scheduling should be explained fully.

Variable

charge

Fuel

escalation

charge

Any

Other

Charges

Fixed

Charges per

annum (Rs

in Crs)

Average rate

(Paise/kwh)

Cost of Purchased Power

Incentive

payment

Wheeling

charge

Source (Allocated

Generator/ Injection

Points)

Total Cost of Power at each

interface point. (Rs in Crs)Variable charge (Paise/kwh)Sl

No

Units

purchased

(M.U.)Total

variable

charge



of 144

Energy Purchase In KWH

STATIONS Apr-06 May-06 Jun-06 Jul-06 Aug-06 Sep-06 Oct-06 Nov-06 Dec-06 Total MU

NEEPCO 151163931 188266398 277177095 300915226 266855886 256417639 199895144 156913260 140133194 1937.738

NHPC 6039704 4093991 14287439 20079913 19612411 20082322 20540020 12815468 10225570 127.7768

NTPC 24500246 45570026 33007042 32130738 28771050 30844220 35670820 33950910 70274510 334.7196

TOTAL 181703881 237930415 324471576 353125877 315239347 307344181 256105984 203679638 220633274 2400.234

UI Pool Account ( A ) 172608158 214610331 261179901 297752999 297514409 276425201 250027192 198299950 220230806 2188.649

Me S E B ( B ) 519170 562840 744980 918366 1028496 740280 843208 858528 6.215868

D L F ( Engy )

Adamtilla 1780680 2131560 2014560 2079960 1998240 1959600 2176920 2101080 2322600 18.5652

Banskandi 6293400 7104000 6717960 6695760 6845640 6476040 6941280 6608765 6815160 60.49801

Sub Total ( C ) 8074080 9235560 8732520 8775720 8843880 8435640 9118200 8709845 9137760 79.06321

NET PURCHASE(A+B+C)-- ( D )181201408 224408731 270657401 307447085 307386785 285601121 259988600 207868323 229368566 2273.928

Bilateral Purchase

LANCO 7667200 7.6672

GLOBAL 1283978

PTC India Ltd 8004000 8.004

Reliance Energy Ltd. 21948480 36383040 58.33152

TOTAL 1283978 0 0 0 0 0 7667200 29952480 36383040 75.2867

Total Purchase 182485386 224408731 270657401 307447085 307386785 285601121 267655800 237820803 265751606 2349.215

Total Purchase ( In M U )182.485 224.408 270.657 307.447 307.386 285.601 267.655 237.821 265.751 2349.211

APGL 61.919 67.916 57.946 56.235 56.657 47.008 56.44 81.689 95.703 581.513

Grand Total 244.404 292.324 328.603 363.682 364.043 332.609 324.095 319.51 361.454 2930.728



of 144

STATIONS Apr-06 May-06 Jun-06 Jul-06 Aug-06 Sep-06 Oct-06 Nov-06 Dec-06 TOTAL

NEEPCO

KOPILI - I 0 11263551 26384496 38363574 38522140 32018743 34440034 17359046 17394069 215745653

KOPILI - II 0 2668134 14744565 16511097 16197987 16619929 15934693 19323 -107459 82588269

KHANDONG 2467073 10360829 11083236 11497201 10783991 10617775 209247 6850193 6802296 70671841

AGBPP 169619459 177915562 159032077 147050043 148290747 136005771 150359645 171926076 152671164 1412870544

AGTPP 43808228 44944242 41089249 46746630 43950922 45064701 46956061 45953405 47125639 405639077

RHEP 85668391 87325185 105888970 182830644 163081567 120050610 85554173 15851996 -3701129 842550407

DHEP 6608871 15278696 28231808 22535516 66575943 40759168 25817888 15201514 15497227 236506631

Sub Total---- A 308172022 349756199 386454401 465534705 487403297 401136697 359271741 273161553 235681807 3266572422

FPA (Addl.Bill)

AGBPP 27546760 31699540 23366921 23414420 28703854 26184832 26431901 22619208 23834428 233801864

AGTPP 3201662 3060828 3210112 3086268 3106043 3045918 3082109 3057260 3046537 27896737

Sub Total-- B 30748422 34760368 26577033 26500688 31809897 29230750 29514010 25676468 26880965 261698601

Toatl ( A + B ) 338920444 384516567 413031434 492035393 519213194 430367447 388785751 298838021 262562772 3528271023

NHPC 8447076 16212010 12688614 21209633 20880623 19498746 46071137 54309004 1295638 200612481

NTPC 40255558 59523133 44989637 49558323 46789837 90126871 59600976 54165419 111603515 556613269

Me S E B 1894719 2001801 2493104 2927979 3205034 2432478 2703996 2722955 20382066

D L F ( Engy )

Adamtilla 2730611 3268674 3089258 3189546 3064232 3004979 3338231 3221934 3561627 28469092

Banskandi 9806018 11069048 10467544 10432952 10666487 10090597 10815507 10297402 10618995 94264550

Sub Total---- C 12536629 14337722 13556802 13622498 13730719 13095576 14153738 13519336 14180622 122733642

D L F( Gas & TC )

Adamtilla 1241608 1488710 1418546 1464598 1406055 1377895 1530703 1477377 1633139 13038631

Banskandi 4117642 4652278 4404973 4412959 4529971 4278969 4586371 4362301 4494179 39839643

Sub Total--- D 5359250 6140988 5823519 5877557 5936026 5656864 6117074 5839678 6127318 52878274

Toatl ( C + D ) 17895879 20478710 19380321 19500055 19666745 18752440 20270812 19359014 20307940 175611916

PGCIL

NER 53182020 74521927 101508442 110473969 98927650 95786404 81223440 67910204 80132348 763666404

ER 2575651 2648152 2768130 2428875 2692554 2790400 2748855 3796625 4531871 26981113

NERULDC 4347795 4347795 4327671 4327671 4327671 4327671 4327671 4327671 4327671 38989287

Sub Total 60105466 81517874 108604243 117230515 105947875 102904475 88299966 76034500 88991890 829636804

TOTAL OF ABOVE 467519142 564250095 601187353 702461898 715703308 664082457 605732638 505428913 484761755 5311127559

UI POOL A/C 28064405 40867460 91448881 83479867 -19460452 -7000537 5591260 126887258 96052473 445930615

NET PURCHASE 439454737 523382635 509738472 618982031 735163760 671082994 600141378 378541655 388709282 4865196944

Bilateral Purchase

LANCO 0 30529169 0 0 30529169

GLOBAL 5392707 0 0 0 5392707

PTC India Ltd 0 0 46462641 0 46462641

Reliance Energy Ltd. 0 0 79737013.6 139827566 219564580

TOTAL 5392707 0 0 0 0 0 30529169 126199655 139827566 301949097

Grand Total 444847444 523382635 509738472 618982031 735163760 671082994 630670547 504741310 528536848 5167146041



of 144

(Rs in Crs)

Sl

No Particulars

Previous year

2005-06

Current year

2006-07

Ensuing year

2007-08

Ensuing year

2008-09

Ensuing year

2009-10

1 RE Subsidies 107.03

2 Grants for Research and Development Expenses

3 Grant for Survey and Investigation 0.00 0.00 0.00 0.00 0.00

4 Others

Grand Total 107.03 0.00 0.00 0.00 0.00

Note: The Amount of Grant/Subsidy committed to be given by Govt should alone be taken.

Revenue Subsidies and Grants

Form-AT3/T3/D3

(Rs in Crs)

Sl No Particulars 2005-06 2006-07 2007-08 2008-09 2009-2010

1 Interest on Staff Loans and advances 0.00 0.00 0.00 0.00 0.00

2 Income from Investment 0.00 0.02 0.02 0.02 0.02

3 Interest on Loan & advances to licenses 0.02 - - - -

4 Delayed Payment Surcharge - - - - -

5 Rental from Meters - - - - -

3 Interest from Banks (Except Fixed Deposit) - 0.02 0.02 0.02 0.02

4 Income from Trading 0.02 0.40 0.40 0.40 0.41

8 Reconnection / Disconnection Charges 0.39 - - - -

9 Depooling of PGCIL Transmission Charges - - - - -

5 Miscellaneous receipts - - - - -

11 Miscellaneous Recoveries (Transformer etc) - (0.00) (0.00) (0.00) (0.00)

Grand Total 0.43 0.44 0.44 0.44 0.45

Form-AT4/T4/D4

Non-Tariff Income (Other Income)

(Rs in Crs)

Total Total Total Total Total

Repairs and maintenance to:

1 Plant & Mach + dev charges 31.57 - - - -

2 Buildings - - - - -

3 Civil works - - - - -

4 Hydraulic Works - - - - -

5 Lines, Cable Networks - - - - -

6 Vehicles - - - - -

7 Furniture & Fixture - - - - -

8 Office Equipment - - - - -

Total 31.57 - - - -

Form-AT5/T5/D5

Ensuing Year

2009-10

Ensuing Year 2008-

09Sl

No

Ensuing Year

2007-08

Current Year

2006-07

Previous Year

2005-06

Particulars

Repairs and Maintenance Costs



of 144

(Rs in Crs)

Sl No Particulars 2005-06 2006-07 2007-08 2008-09 2009-10

Audited Total Projected Projected Projected

1 Salaries 0.29 0.32 0.35 0.46 0.50

2 Overtime - - - - -

3 Dearness Allowance - - - - -

4 Other Allowances - - - - -

5 Bonus 0.08 0.09 0.10 0.13 0.14

6 Sub-Total (1 to 5) 0.37 0.41 0.45 0.58 0.64

7 Medical expenses reimbursement 0.04 0.04 0.04 0.06 0.06

8 Leave travel Assistance 0.00 0.01 0.01 0.01 0.01

9 Earned Leave Encashment - - - - -

10 Retrenchment Compensation

11 Payment under Workmen's Compensation Act - - - - -

12 Payment to Helpers/ Employeees of Storm and

Monsoon Gang- - - - -

13 Total Other staff costs ( 7 to 12) 0.04 0.04 0.05 0.06 0.07

14 Staff Welfare expenses - - - - -

15 Terminal Benefits 26.74 0.03 0.03 0.04 0.04

16 Sub-total (14 to 15) 26.74 0.03 0.03 0.04 0.04

17 Grand Total 27.15 0.48 0.53 0.68 0.75

NOTE: 1) Employee cadrewise details to be furnished in Form-12.

2) Working details for the projections shall be provided separately.

Other Staff Costs (Schedule-9)

Form- AT6/T6/D6

Employee Costs

Form-AT7/T7/D7

(Rs in Crs)

Sl

NoParticulars 2005-06 2006-07 2007-08 2008-09 2009-10

1 Rent, Rates & Taxes 0.10 0.10 0.11 0.11 0.12

2 Telephone Charges 0.06 0.07 0.07 0.08 0.08

3 Postage & Telegram 0.01 0.01 0.01 0.01 0.01

4 Legal Charges 0.28 0.30 0.32 0.34 0.36

5 Conveyance & Travel Charges including Vehicle Hiring0.09 0.09 0.10 0.11 0.11

6 Other Expenses 0.41 0.44 0.46 0.49 0.52

7 Sub Total : 0.96 1.01 1.07 1.14 1.21

8 Less : capitalised -

9 Total : 0.96 1.01 1.07 1.14 1.21

Note: Where the expenditure is more than Rs.1 Crore in respect of each of the above

items, full details shall be furnished separately.

Administration and General Charges



of 144

Form - AT8/T8/D8

(Rs in Crs)

1 Land & Rights - - - - - - - - - - - - - - - -

2 Building - - - - - - - - - - - - - - - -

3 Hydraulic - - - - - - - - - - - - - - - -

4 Other Civil Works - - - - - - - - - - - - - - - -

5 Plant & Machinery - - - - - - - - - - - - - - - -

6 Lines & Cable Net work - - - - - - - - - - - - - - - -

7 Vehicles - - - - - - - - - - - - - - - -

8 Furniture& Fixtures - - - - 0.08 - 0.08 - - 0.08 - - 0.08 - - 0.08

9 Office Equipment - - - - 0.08 - 0.08 - - 0.08 - - 0.08 - - 0.08

10 Capital Spares at Generating Stations - - - - - - - - - - - - - - - -

Grand Total - - - - 0.17 - 0.17 - - 0.17 - - 0.17 - - 0.17

Depreciation

Information shal be provided voltage class ( 400 KV, 220 KV, 132 KV, 66 KV, 33 KV, 11 KV and below)

Repeat the same format to provide voltage class-wise information.

Sl No Description of assets

Previous year 2005-06 Current year 2006-07

Depreciation

provided for

the year

Withdrawal of

depreciation

Balance of

accumulated

depreciation at

the end of theyear

Ensuing year 2007-08

Balance of

accumulated

depreciation at the

beginning of the year

Depreciation

provided for

the year

Balance of

accumulated

depreciation at

the end of the

year

Depreciation

provided for

the year

Withdrawal of

depreciation

Withdrawal of

depreciation

Balance of

accumulated

depreciation at

the end of theyear


Depreciation

provided for

the year

Withdrawal of

depreciation

Balance of

accumulated

depreciation at

the end of theyear


Depreciation

provided for

the year

Withdrawal of

depreciation

Balance of

accumulated

depreciation at

the end of theyear



of 144

Form- AT9/T9/D9

The information to be provided on a consolidated basis institutionwise. (Rs. in Crores)

Financial Year 2006-07

SL.NO. Name of the Institution

Balance at the

beginning of the

year 2006-07

Amount

received

during the

year

Amount

redeemed

during the year

Balance

outstanding

at the end of

the year 2006-

07

Rate of

interest

(indicative

range in

case of

several

loans per

institution)

Interest for

the yearRemarks

1 Loans from State Govt. 3.18 - (0.32) 2.86 0.32 Includes Interest

to be capitalised

2 Loans from PFC - - - - -

3 Loans from REC - - - - -

4 Loans from Public Bonds - - - - -

5 Loans from ADB/ Other Loans - - - - -

Total 3.18 - (0.32) 2.86 0.32

NOTE: 1. Cost of raising finance, other finance charges shall be included under the respective interest charges.

2

3 Under Others, Interest on belated payment of power purchase bills and other interest charges be shown with details.



Balance at the

beginning of the

year 2007-08

Amount

received

during the

year

Amount

redeemed

during the year

Balance

outstanding

at the end of

the year 2007-

08

Rate of

interest

(indicative

range in

case of

several

loans per

institution)

Interest for

the yearRemarks


to be capitalised





Total 2.86 - (0.32) 2.54 0.29



Balance at the

beginning of the

year 2008-09

Amount

received

during the

year

Amount

redeemed

during the year

Balance

outstanding

at the end of

the year 2008-

09

Rate of

interest

(indicative

range in

case of

several

loans per

institution)

Interest for

the yearRemarks


to be capitalised





Total 2.54 - (0.32) 2.22 0.25



Balance at the

beginning of the

year 2009-10

Amount

received

during the

year

Amount

redeemed

during the year

Balance

outstanding

at the end of

the year 2009-

10

Rate of

interest

(indicative

range in

case of

several

loans per

institution)

Interest for

the yearRemarks


to be capitalised





Total 2.22 - (0.32) 1.91 0.22

Interest and Finance charges

Lease rentals/payments shall be included in this form under "interest column', and additional information be provided in Form AT9A/T9A/D9A



of 144

Form-AT10/T10/D10

(Rs in Crs)

Sl No Particulars

Previous year

2005-06

Current year

2006-07

Ensuing year

2007-08

Ensuing year

2008-09

Ensuing year

2009-10

1 Interest & Finance charges

Capitalised 1.73 10.39 13.37 14.46 16.48

2 Other expenses capitalised:

a Employee Costs

b

Administration and General Expenses

c Repairs and maintenance

d Depreciation

e Others, if any

Total of 2 -

Grand Total 1.73 10.39 13.37 14.46 16.48

Details of Expenses Capitalised

Form-AT11/T11/D11

(Rs in Crs)

Sl No ParticularsPrevious year

2005-06

Current year

2006-07

Ensuing year

2007-08

Ensuing year

2008-09

Ensuing year

2009-10

1 Material cost variance

2 Research and Development expenses

3 Cost of Trading/Manufacturing Activities

4Bad & Doubtful Debts written off/provided

for (0.037) 7.95 11.21 12.46 14.33

5 Miscellaneous losses and written off

6 Sundry Expenses

8

Grand Total (0.037) 7.951 11.211 12.461 14.333

NOTE: Explanatory notes with full details for each of the items shall be provided.

Other Debits



of 144

(Rs in

1 Land & Rights - - - - - - - - -

2 Building - - - - - - - - -

3 Hydraulic - - - - - - - - -

4 Other Civil Works - - - - - - - - -

5 Plant & Machinery - - - - - - - - -

6 Lines & Cable Net work - - - - - - - - -

7 Vehicles - - - - - - - - -

8 Furniture& Fixtures - - 0.09 0.09 0.09 0.09 0.09 0.09 0.09

9 Office Equipment - - 0.09 0.09 0.09 0.09 0.09 0.09 0.09

10Capital Spares at Generating

Stations- - - - - - - - -

Total - - - - - - 0.19 0.19 - 0.19 0.19 - 0.19 0.19 - 0.19

Form-AT15/T15/D15

Gross Fixed Assets

Information shall be provided voltage class ( 400 KV, 220 KV, 132 KV, 66 KV, 33 KV, 11 KV and below)


Retirement

of assets

during the

year

Balance at

the end of

the year

Balance at

the

beginning of

the year

Additions

during the

year

Balance at

the end of

the year

Sl

NoParticulars of assets

Previous year-2005-06 Ensuing year-2007-08Current year -2006-07

Additions

during the

year

Retirement

of assets

during the

year

Balance at

the end of

the year

Retirement

of assets

during the

year

Additions

during the

year

Ensuing year-2008-09

Additions

during the

year

Retirement

of assets

during the

year

Balance at

the end of

the year

Ensuing year-2009-10

Additions

during the

year

Retirement

of assets

during the

year

Balance at

the end of

the year



of 144

Form-AT16/T16/D16

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18

1 Land & Rights - - - - - - - - - - - - - - - -

2 Building - - - - - - - - - - - - - - - -

3 Hydraulic - - - - - - - - - - - - - - - -

4 Other Civil Works - - - - - - - - - - - - - - - -

5 Plant & Machinery - - - - - - - - - - - - - - - -

6 Lines & Cable Net work - - - - - - - - - - - - - - - -

7 Vehicles - - - - - - - - - - - - - - - -

8 Furniture& Fixtures - - - - - 0.08 (0.08) 0.09 - 0.09 0.09 - 0.09 0.09 - 0.09

9 Office Equipment - - - - - 0.08 (0.08) 0.09 - 0.09 0.09 - 0.09 0.09 - 0.09

10 Capital Spares at Generating Stations - - - - - - - - - - - - - - - -

Total - - - - - 0 (0) 0 - 0 0 - 0 0 - 0

Sl No Description of assets

Previous year 2005-06 Current year 2006-07

Balance of

written down

cost of assets

at the

beginning of

the year

Net Addition of

assets during

the year

Net

Depreciation

for the Year

Balance of

written down cost

of assets at the

end of the year

Net Addition of

assets during

the year

Net Fixed Assets

Information shall be provided voltage class ( 400 KV, 220 KV, 132 KV, 66 KV, 33 KV, 11 KV and below)


(Rs in Crs)

Balance of written

down cost of

assets at the end

of the year


Net

Depreciation

for the Year

Balance of written

down cost of

assets at the end

of the year

Net Addition of

assets during

the year

Net

Depreciation

for the Year

Net

Addition of

assets

during the

year

Net

Depreciation

for the Year

Balance of written

down cost of

assets at the end

of the year


Net Addition of

assets during

the year

Net

Depreciation

for the Year

Balance of

written down

cost of

assets at the

end of the

year




of 144

Annexure III: Details of additiona l Power Purchase from Trader

Details of Additional Power Purchase from Traders SL NO MONTH TRADERS PERIOD RATE Rs/UNIT QUANTUM (MU) COST(Rs) REMARKS REF

1

Apr-06 M/s Global Energy Ltd. 1700Hrs- 2300Hrs 4.2 1.284 53,92,708 Cost inclusive of all other charges.

Mode of fixation of rates explained

at Note.

00-100 Hrs. 3.04 4.1472 1,29,16,287

100-1700 Hrs. 4.92 3.52 1,76,12,883

M/s PTC 1700-23 Hrs. (50 MW) 5.737 8.04 4,67,28,761

M/s Reliance 00-06 Hrs.=35 MW 3.54 21.95 7,97,37,013

06-17 Hrs.=65 MW

22-24 Hrs.=65 MW

3.54 (Op) 27.3389

4.54 (P) 9.044

M/s PTC RTC (15MW) 4.24 1.0174 2,44,93,701

M/s NVVN 25MW-35MW 4.69 2.083 97,72,685

M/s NVVN Peak-35 MW

1700-2300

4.69 1.9712 92,50,052 Rates fixed by negotiation based on

competitive bidding

WBSEB 1100 hrs. to 1700 5.765 6.9 4,01,99176 Mode of Fixation of rates explained at

Note.6

Feb-07

13,98,27,565 Rates fixed by negotiation based on

competitive bidding

5

Jan-07 Rates fixed by negotiation based on

competitive bidding

4

Dec-06 M/s Reliance RTC ( 60 MW)

3

Nov-06 Rates fixed by competitive bidding

through National News papers

2

Oct’06 19/10 to 31/10 M/s LANCO Mode of Fixation of rates explained

at Note

Note

(1) Apr-06 Rates for supply of power and supplier was initially fixed by competitive bidding through National News Paper on 21-9-05 for the period for Nov-05 to Apr-

06. But the participants have failed to supply sufficient quantum of power after some months. Therefore ASEB had no other alternative but to procure power

from whatever source it is available at reasonable rate. M/s Global Energy Ltd. is one such supplier who came forward to supply at reasonable rates.

(2) Oct-06 - 19.10.06 to 31.10.06

ASEB had taken a decision to procure 40 MW power (00.00 Hrs. to 1700 Hrs.) from M/s LANCO under the following circumstances.

ASEB anticipated the need for purchasing power to meet shortfall during the dry season starting from Nov-06 to Apr-07 due to deficient rainfall in the region.

Accordingly NIT was published in Oct-06 (17-10-06).

But during the last few days of Sep-06 self generation including generation from generators of the region reduced more than the anticipated resulting in acute

power crisis. There was public outcry due to heavy load shedding.

M/s LANCO to whom ASEB was selling off peak power till then offered to supply power at short notice. The rates offered by M/s LANCO was found to be

reasonable in comparison to the offered rates in response to the NIT for the period from Nov-06 to Apr-07.

(3) Nov-06 Rates as per competitive bidding through National News Paper.

(4) Dec-06 Rates at par or lower than the rates fixed by competitive bidding.

(5) Jan-07 Rates at par or lower than the rates fixed by competitive bidding.

(6) Feb-07 M/s NVVN. Rates at par or lower than the rates fixed by competitive bidding

In addition power from WBSEB had to be procured at higher rate because of the following circumstances.

Order for supply of power was placed on M/s Reliance for the month of Nov-06 to Mar-07, on M/s PTC from Jan-07 to Mar-07 and on M/s LANCO on Feb-

07 & Mar-07.

The firms have failed to supply power for the month of Jan-07 & Feb-07 and till now in Mar-07.

In view of the National Games ASEB had no other option but to approach WBSEB & other traders for supply of whatever power available and at reasonable

rates so that important events like National Games is not affected. Accordingly power procured from WBSEB for the month of Feb-07 only (6. 2.07 to

28.2.07).



of 144

Enclo:

A-1 Monthly Anticipated power position Jul-05 to Mar-06 by MD, AEGCL

Dtd. 26.7.05.

A-2 NIT Dtd. 21-9-05 for supply of Power from Nov-05 to Apr-06.

A-3 Comparative Statement.

A-4 Intimation of shortfall in lean season to GOA.

B-1 Anticipated power availability from Nov-06 to Mar-07

B-2 Intimation of power shortage during the lean season to the State Govt.

B-3 NIT dtd. 12-10-06 for supply of power from Nov-06 to Apr-07.

B-4 Comparative Statement.



of 144

Annexure A-1



of 144



of 144

Annexure A-2



of 144



of 144

Annexure A-3



of 144

Annexure A-4



of 144



of 144

Annexure B-1



of 144



of 144

Annexure B-2



of 144



of 144

Annexure B-3



of 144



of 144

Annexure B-4



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of 144

Annexure IV: Details of actua l funding of terminal liabil ities

Rs. crore

2005-06 2006-07 Total

Actual Actual Actual

1 3.2(a) AGPRMP Govt. of Assam 0.00 44.10 44.10

2 3.2(b) Interest income Trust's investment

Disposable 3.76 2.89 6.65

To be reinvested 4.20 4.20 8.40

3 3.2(c) Electricity duty LAEDCL 2.10 2.91 5.01

CAEDCL 1.40 2.11 3.51

UAEDCL 2.92 2.40 5.32

4 3.2(d) BST ASEB 26.78 27.29 54.07

5 3.2(e) Govt. Budgetary support Govt. of Assam 0.00 0.00 0.00

6 2.5 Companies' share LAEDCL 14.93 14.05 28.98

22.79% of Pay & DA CAEDCL 11.83 12.83 24.66

UAEDCL 10.91 10.84 21.75

AEGCL 6.85 7.23 14.08

APGCL 5.94 6.08 12.02

Total 91.62 136.93 228.55

Note:

Cash deficit as per FRP Govt. of Assam 107.03 0 107.03

Budgetary support for higher rate of power purchase:

ASEB has not received any budgetary support on account of power purchase.

Govt. of Assam has made budget provision of Rs. 45.00 crores in 2006-07 out of AGPRMP. Release of fund is

under process. Rs 44.10 crore has been received in 2006-07 which relates to 2004-05.

Cash deficit support received from GOA

Actual funding of terminal liabilities against Govt. Notification No. PEL.190/2004/69 dated 04/02/2005

clause

ref.

Sl.

No.Source Agency



of 144

Annexure V: Annua l State ment of Accounts for FY 2005-06

UNAUDITED ACTUAL ANNUAL

ACCOUNTS

FY 2005 – 2006

ASSAM STATE ELECTRICITY BOARD



of 144

SL. NO. PARTICULARS SCH NO.Closing Balance

as on 31.03.2006

Closing Balance

as on 31.03.2005

INCOME

1 Revenue from Sale of Power 1 7,636,145,238 9,060,983,797

2 Revenue subsidies and grants 4 1,070,300,000 696,937,838

3 Other Income 5 4,307,477 372,891,982

4 Total Income 8,710,752,715 10,130,813,617

EXPENDITURE

5 Purchase of Power 6 6,880,014,841 4,714,955,524

6 Transmission ch to AEGCL 7 515,442,494

7 PGCIL charge 7 1,008,883,181 836,331,352

8 Generation of Power 7(a) 582,814,187

9 Repair and Maintenance 8 - 159,858,669

10 Employee Costs 9 4,341,171 2,895,336,640

11 Administration and General Expenses 10 9,553,208 125,165,363

12 Past Terminal Liabilities 9 267,169,940

13 Development charge 8 315,716,673 -

14 Depreciation and related debits (Net) 11 - 1,190,467,999

15 Interest and Finance Charges 12 17,285,511 684,879,386

16 SUB TOTAL : (5 TO 11) 9,018,407,019 11,189,809,120

17 Less Interest & Finance Charges capitalised 13 - -

18 Expenses Capitalised 14 - 19,008,681

19 SUB- TOTAL : (13 TO 14) 19,008,681

20 SUB-TOTAL: ( 12 TO 15) 9,018,407,019 11,170,800,439

21 Other Debits 15 (369,554) 2,916,936,474

22 Extra Ordianary Expenses 16 - 6,923,601,982

23 TOTAL (16 TO 18) 9,018,037,465 21,011,338,894

24 Profit before Tax (4-23) (307,284,750) (10,880,525,277)

25 Provision for Fringe Benefit Tax 17 320,872 -

26 ProfIt/Loss after Tax (24- 25) (307,605,622) (10,880,525,277)

27 Net Prior period charges 18 (275,060,446) (767,800,233)

28 Surplus/Deficit (26-27) (32,545,176) (10,112,725,044)


REVENUE ACCOUNT 2005-2006

STATEMENT - I

SL. NO. PARTICULARSClosing Balance as

on 31.03.2006

Closing Balance as

on 31.03.2005

1 Balance brought forward from last year

2 Surplus (Deficit) from Revenue Account (32,545,176) (10,112,725,044)

3 Credits

4 Transferred from General Reserve

5 Appropriations

6 Contributions to reserve and reserve funds

7 Balance carried forward (32,545,176) (10,112,725,044)


NET REVENUE AND APPROPRIATION ACCOUNT 2005-2006

STATEMENT-2



of 144

NET ASSETS

Net Fixed Assets

1 Gross Block 19 1,875,793 19,801,226,788

2 less: Accumulated Depreciation 19 15,026,308,240

3 Net Fixed Assets 1,875,793 4,774,918,548

4 Capital Works in progress 21 8,491,286,872

5 Assets not in use 22 -

6 Deferred Costs 23 -

7 Intangible Assets 24 -

8 Investment 25 5,343,000 1,785,750,226

9 Total Current Assets 26 3,878,489,606 9,222,620,902

10 less: Security deposits from consumers 27 - 1,097,555,368

11 Other Current Liabilities 28 2,572,348,775 13,782,430,888

12 Total Current Liabilities (10 + 11) 2,572,348,775 14,879,986,255

13 Net Current Assets ( 9 - 12) 1,306,140,830 (5,657,365,353)

14 Subsidies receivable from Government 29 -

15 Net Assets (3 to 8+13+14) 1,313,359,623 9,394,590,293

Financed by

16 Borrowing for working capital 30 -

17 Payment due on capital liabilities 31 25,207 34,285,895,514

18 Capital Liabilities 32 - 4,078,801,340

19 Funds from State Government 33 31,758,671 6,873,313,689

20 Capital formation of Board 33A 998,404,248 13,500,000,000

21 Contribution Grants and subsidies towards cost of capital assets 34 4,371,570,753

22 Reserve and funds 35 315,716,673 3,331,800,992

23 Deficit/Surplus (32,545,176) (57,046,791,995)

24 Total Fund 1,313,359,623 9,394,590,293

NOTE: Schedule 20 relates to break up of fixed assets. (0.83)

ASSAM STATE ELECTRICITY BOARDBALANCE SHEET AS ON 31ST MARCH 2006

STATEMENT- 3

Closing Balance

as on 31.03.2005

SL.NO

.Sch. No.PARTICULARS

Closing Balance

as on 31.03.2006



of 144


STATEMENT - 4.

SCHEDULE FORMING PART OF THE ACCOUNTS

Under the provisions of the Electricity Act, 2003 the Assam Electricity Reforms First Transfer Scheme,

2004 (hereafter referred as “Transfer Scheme” ) was notified by the Government of Assam on 10th

December 2004. As per Schedule “F” of the Transfer Scheme the bulk purchase and bulk supply

functions, namely purchase of electricity in bulk and from the generating companies including Assam

Power Generation Corporation Ltd(APGCL) and supply of electricity in bulk to the Distribution

companies (LAEDCL,UAEDCL and CAEDCL) is with ASEB. The Board vide Resolution No.5

dtd.12.7.06 approved the updated opening balance sheet (OBS) for the 5(five) successor entities and

Balance sheet of residual ASEB as on 1st April,2005 and the same has been forwarded to the

Government of Assam vide letter No.ASEB.ACT/FIN/21/48 dtd.19.9.06.

The Annual Accounts of ASEB for the year 2005-06 has been prepared on the basis of the approved

updated OBS as on 1.4.2005.

Therefore, 2005-06 is the first year of preparation of Annual Accounts of the residual ASEB. The figure

for previous year wherever relevant have been shown in the Schedules.

The Annual Accounts of ASEB has been prepared under Section 185(2) of Electricity Act,2003 read with

Section 69(1) of Electricity (Supply) Annual Accounts Rules (ESAAR),1985.

1. Significant Accounting policies:

a. The Financial Statements are prepared for the Financial Year starting 1st April, 2005 and ending

31st March,2006.

b. Basis of Preparation : The financial Statements have been prepared under the historical cost convention, on accrual basis to

comply in all material respects with the provisions of the ESAAR,1948 and the rules made there

under as amended in 1985.

2. Fixed assets

Fixed asset as per the opening Balance Sheet as at 1.4.2005 is NIL. All fixed assets of the erstwhile

ASEB as at 31.3.05 have been transferred to the successor entities. Fixed assets as shown in Schedule-19

of the accounts shows the additions during the current year.

3. Profit and loss account

1.1

Revenue Recognition: Bulk sale of energy to Discoms is accounted for based on tariff approved by the AERC . Revenue

from Bulk supply is accounted for on the basis of energy sale to the Distribution companies.UI

interchange has been accounted for on cash basis.

During the year 2005-06 ASEB has sold 3522.93 MU.

1.2

Rebate on power purchase



of 144

The rebate on timely payment of power purchase is accounted for on receipt. Also, The

rebate/incentive on power purchase for earlier periods has been accounted separately.

2. Power purchase cost

The power purchase cost of ASEB for 2005-06 is Rs.688.00 crore as shown in Statement-1 of the

Accounts.

2.1 APGCL Cost of power purchase from APGCL comprising of Fuel cost and Fixed cost is as per bills raised by

APGCL. Fixed cost billed by APGCL is as per AERC approved amount and Fuel charge for NTPS

and LTPS is billed as per AERC norms on the actual energy delivered.

3. Development Charge Development surcharge recovered in Bulk Supply tariff approved by AERC from the Distribution

Companies @9.69paise per Kwh of bulk sale of energy by ASEB is credited to Development

Reserve fund.No expenditure has been made during the year from the fund.

4. Unfunded terminal liability for past services

Special charge on Bulk Supply Tariff approved by AERC forming a part of the cash stream of

funding past terminal liabilities of ASEB employees has been paid to Pension Trust in the

manner as prescribed for disbursement by AERC guideline 2005-06.

5. Prior Period Charges/(Credits)

a) An amount of Rs.196752570.00 (Cr) has been received from NTPC on account refund of

power purchase cost of prior period due to tariff revision.

b) The following adjustments as per audit observation of 2004-05 were made in the accounts of

2005-06

i) Rs.178044634.00 (Cr) has been adjusted against NEEPCO against power purchase bills of

November-03 to March-04 and July-04 to March/05.

ii) Rs. 27557411.00 (Dr) was adjusted against power purchase of previous against NHPC.

iii) Rs. 72474161.00 (Dr) adjusted from NTPC against power purchase of previous period.

iv) Rs.1124018.00 (Dr.) provided against PTC being the arrear amount of power purchase of

previous year.

v) Rs. 1309800.00 provided against DLF against power purchase of previous year.

c) Rs. 4787628.00 (Cr) balance against PGCIL has been adjusted in the account against prior

period.

d) Rs. 2058996.00 balance paid during the year against old liability of DVC.

6. Taxes on income

No provision for income tax has been made due to loss for the year. Fringe benefit tax has been

provided as per rule.



of 144


STATEMENT- 5.

SCHEDULE FORMING PART OF THE ACCOUNTS

MATTERS TO BE DISCLOSED IN NOTES TO ACCOUNTS

1. REVENUE ACCOUNTS

a. Unconditional obligation for power purchase :

Under power Purchase agreement with M/S DLF Power Ltd., ASEB has unconditional power

purchase obligations to pay for drawal as well as Deemed generation of power except in force

majeure situation. The PPA with DLF is of 33 year with effect from February,1995.

b. Classification of expenditure

Al expenses are reflected in the Revenue Accounts under natural heads of Accounts. Accordingly,

expenses shown under Power purchase , Employee expenses, General Administration expenses and

interest and finance charges etc. are shown separately.

4. Writing off of Sundry debtors balance of ASEB( Pre-unbudling)

Sundry debtors of Rs. 268.76 crore in the books of accounts of ASEB has been written off as per

Board’s Resolution No.12 dtd.6.6.2006.

3. Disclosure on Financial Restructuring Plan (FRP)

During the F.Y. 2005-06 Rs.188.63 crore was received from Government of Assam for servicing FRP

related liabilities. Accordingly, following amounts have been paid along with payment against opening

balance of Rs.38.95 crore received in respect of LICI in the previous year.

Public bonds =Rs.23.89 crore

NEEPCO = Rs. 1.00 crore.

MeSEB =Rs.60.40 crore

Gridco =Rs.45.20 crore

LICI =Rs.45.00 crore

REC =Rs.52.09 crore



of 144

REVENUE

1 Revenue from sale of Power 7,636,145,238 7,636,145,238

2 Revenue Subsidies and Grants(See Note 3) 1,070,300,000 1,070,300,000

3 Other Income 4,307,477 4,307,477

4 TOTAL INCOME 8,710,752,715 8,710,752,715

1 Purchase of Power (Put in total Column) 6,880,014,841 6,880,014,841

2 Transmission Charges to PGCIL 1,008,883,181 1,008,883,181

3 Transmission Charges to AEGCL 515,442,494 515,442,494

4 Generation of Power -

Fuel Consumption -

Other Fuel related cost -

Operating Expenses -

Sub Total - -

Fuel related losses -

TOTAL - -

5 Repair and Maintenance -

6 Employee Cost 4,341,171 4,341,171

7 Administration and General Expenses 9,553,208 9,553,208

8 Depreciation & related Debits (Net) - -

9 Interest and Finance charges 17,285,511 17,285,511

10 Other Debits and extraordinary expenses (369,554) (369,554)

11Special Charge on BST for unfunded

terminal liabilities267,169,940 267,169,940

12 Development Surcharge 315,716,673 315,716,673

13 Total Expenses 9,018,037,465 9,018,037,465

Less expenses Capitalised -

Add Expenses Re-allocated/prior period charges (275,060,446) (275,060,446)

Net Expenses 8,742,977,019 8,742,977,019

NOTE : 1. The function shown in this schedule are only illustrative. Actually the analysis would be for these

functions which are incorporated in the location codes assigned to accounting units.

2. To be shown in the column of the function the subsidy/grant related to.

3. This being the income acconts group for different types of income including miscellaneous

receipts,each function is likely to have some amount of income.

SL.NO.


Management &

AdministrationTotal

FUNCTION WISE ANALYSIS OF REVENUE AND EXPENSES

STATEMENT 6

Function (See Note I Below)



of 144

RS LAKH

Fund provided by :

Profit before tax (excluding Revenue Subsidies and Grants) (11,025.25) (101,127.25)

Less: Tax payment during the year (3.20) -

Add: Debits to Revenue Account Net requiring cash Outlay - -

Depreciation - 11,603.92

Amortisation of deferred cost - -

Amortisation of intangible assets - -

Less: Credits to Net Revenue and Appropriation Accounts not involving cash

receipt- -

Net Funds from Earning (11,028.45) (89,523.33)

Receipt of Revenue subsidies and grants contribution grants and subsidies

towards cost of capital assets 10,703.00 5,022.22

Proceeds from disposal of fixed assets - -

FUNDS FROM OPERATION: (325.45) (84,501.10)

Increase/ Decrease in Working Capital : - -

Stock - (1,177.93)

Receivable against supply of power 32,410.55 (27,605.71)

Loans and Advances 2.67 (101.58)

Sundry Receivable 62.08 (1,298.15)

Subsidy - -

Sub Total 32,475.30 (30,183.37)

Security Deposit from Consumers - 1,546.21

Current and accrued liabilities 10,722.45 (23,136.47)

Reserves 3,157.17 385.40

Net Increase/Decrease in working capital 8,595.68 (8,978.51)

Increase/Decrease in Cash and Bank Balances (12,522.65) 17,183.22

Increase/ Decrease in borrowing for Working Capital : - 8,204.71

Funds utilised on working capital - (92,705.82)

NET FUNDS FROM OPERATIONS (3,601.52) (92,705.82)

FUNDS UTILISED ON CAPITAL EXPENDITURE: -

On Project 18.76 11,916.18

Intangeble assets -

Deferred Cost - (1,839.05)

Total Capital Expenditure - 10,077.13

Shortfall in Capital Funds met from external sources 3,582.76 (102,782.95)

NET INCREASE/DECREASE IN CAPITAL LIABILITIES -

FRESH BORROWINGS -

State Loans (3,582.76) 25,742.49

Foreign Currency Loans/Credits -

Other Borrowings - 2,599.48

Less Repayment : -

State Loans - 12,300.00

Foreign Currency Loans/Credits -

Other Borrowings - 826.57

Increase/Decrease in payment due to Capital liabilities - (32,134.11)

NET INCREASE/DECREASE IN CAPITAL LIABILITIES (3,582.76) (16,918.70)

Net Increase/Decrease in investments - (1,538.01)

NET CAPITAL FUNDS FROM EXTERNAL SOURCES (3,582.76) (15,380.70)

Net funds from opetations as percentage of total capital Expenditure


STATEMENT 7

SOURCES AND USES OF FUNDS

This Year 2005-

2006

Previous

Year2004-2005

SL.

NO.PARTICULARS



of 144

1 Installed Generation capacity (in M.W.) at the year end

Hydel 2.00

Thermal 300.00

Gas 272.40

TOTAL 574.40

2 Normal Maximum Demand on the System (in M.W.)

a) Restricted

b) Unrestricted

4 Plant Load Factor 15.08%

5 Generation (in Million KWH) :

Hydel NIL

Thermal NIL

Gas 756.435

Stand by Diesel Sets NIL

TOTAL OF 5 756.435

6 Auxiliary Consumption (in Million KWH) : 35.494

7 Power Purchases (in Million KWH) Sources

i) Me.S.E.B 8.76 7.396

II) NEEPCO 2465.36 2463.451

III) N.H.P.C. 154.42 161.6

IV) WBSEB 34.72 120.464

V) D.L.F. 119.88 135.218

VI) PGCIL (SUKHA) NIL

VII) OIL INDIA NIL

VI) N.T.P.C. 52.51

VI) N.V.V.N.L 9.29 NIL

IX) W.B.S.E.B. NIL

VII) APGCL 751.01

VIII) Other Traders 150.76

VII) Less Transmission loss in PGCIL Net work (in Million KWH) -126.294

VIII) Less:UI sale (in Million KWH) -180.59

TOTAL OF 7 (in Million KWH) 3746.71 2581.245

8 Total Power available for sale (in Million KWH) (5+7-6) 3746.71 3302.186

9 Interstate Sale of Power(in Million KWH) (PTC) 264.75 51.98

10 Power available for Sale within the State (in Million KWH) 3481.96 3250.206

11 Power Sold within the State(in Million KWH) to - 1984.61

LAEDCL 1291.74

UAEDCL 1050.48

CAEDCL 915.96

3258.18

12 Transmission and Distribution Losses (in Million KWH) (10-11) 223.78 1265.596

As a % of total power available for sale 38.94%

11 Fuel : a) Consumption

Coal (MT) NIL

RFO/FO (KL) NIL

L.D. Oil/HSD (KL) NIL

L.S.H.S. (KL) NIL

Gas (MMSCM) 293.21

HFO (KL) NIL

Coal NIL

RFO/FO NIL

L.D. Oil/HSD NIL

LSHS NIL

Natural Gas 8572 k CAL/ M3

Previous year

2004-2005

This year

2005-2006

c)Consumption per unit of Generation (in Kg/Kwh) Coal.RFO/FO,LD

Oil/HSD

* This includes

66.785 MU free

power received

from NEEPCO

NIL

b) Average calorific value per Kg. of fuel consumption(in K.Cal/Kg)

* This includes

77.04 MU free

power received

from NEEPCO


Statement of Technical Particulars

STATEMENT -9

Plant capacity available at the time maximum system demand was

met (as a % of Declared Net capacity of geneating stations)

SL.

No.Particulars

3



of 144

SL.N

O.PARTICULARS ACCOUNT CODE

Closing Balance

as on 31.03.2006

Closing Balance

as on 31.03.2005

1 Revenue from Sale of Power 7636145238 8,673,170,868

2 Electricity Duty Recovery 61.501 to 61.519 47,925,292

3 Other State Levies Recoveries 61.521 to 61.539

4 Meter Rent/ Service Line rental 61.6 81,618,805

5 Recoveries for theft of power/malpractice 61.7 305,477

Sub Total : - 129,849,574

6 Wheeling charge recoveries 61.8

7 Misc. charges from consumers 61.9 305,888,647

Gross Revenue from Sale of Power (Total) 7,636,145,238 9,108,909,089

8 Less Electricity duty payable (Contra) 61.541 to 61.579 47,925,292

TOTAL 7,636,145,238 9,060,983,797


REVENUE FROM SALE OF POWER

SCHEDULE- I

SL.

NO.PARTICULARS

ACCOUNT

CODE

Closing Balance as

on 31.03.2006

Closing Balance as

on 31.03.2005

Revenue from Sale of Power 7,636,145,238 8,673,170,868

ELECTRICITY DUTY AND OTHER STATE LEVIES

Electricity duty recovery 61.501to 61.519 47,925,292

Other State levies recoveries 61.52 to 61.539 -

Total - 47,925,292

Rental from Meters. Servie lines,Capacitors etc. 61.6 81,618,805

Recoveries from theft of power and malpractices 61.7 305,477

Wheeling charges recoveries 61.8 -

Miscellaneos recoveries 61.9 305,888,647

Total miscellaneous recoveries 61.6 to 61.9 387,812,929

Gross revenue from sale of power Gross Total - 9,108,909,089

Less Electricity duty payable (Contra) 61.541to 61.553 47,925,292

Other State levies recoveries (Contra) 61.561 to 61.573 -

Total 7,636,145,238 9,060,983,797

Sl.

No.Consumer Category

Units Sold

MKWH

Average realisation

in paise per unit

Average Realisation

(Rs. in Crore)

1 Discoms A B X

i)LAEDCL 1291.74 2.21 285.47

ii)UAEDCL 1050.48 2.42 254.22

iii)CAEDCL 915.96 1.74 159.38

2 OTHERS 264.75 2.44 64.55

TOTAL 3522.93 8.81 699.07


AVERAGE REALISATION FROM SALE OF POWER

SCHEDULE-3

This year 2005-2006

ELEMENT WISE ANALYSIS OF REVENUE

SCHEDULE- 2




of 144

SL.N

O.PARTICULARS

ACCOUNT

CODE

Closing

Balance as on

31.03.2006

Closing

Balance as on

31.03.2005

1 Revenue Grant againts Cash Deficit Support 63.111 1070300000 694,353,838

2 Grant for research and Development expenses 63.120 84,000

3Subsidies against losses on account of flood

fire,cyclone etc.63.200 2,500,000

TOTAL 1,070,300,000 696,937,838

SL.N

O.PARTICULARS

ACCOUNT

CODE

Closing

Balance as on

31.03.2006

Closing

Balance as on

31.03.2005

1 Interest on staff loans and advances62.210 to

62.2198 89,833

2 Income from investment 62.220-239 157338 74,580,263

3 Interest on loan & advances to licensees 62.240

4 Delayed payment charges from consumers 62.250 55,059,479

5 Interest on advances to suppliers

6 Interest from banks (other than on FD) 62.270 222239 59,904

7 Incentive received/ income from trading 62.340-62.361 3927900 12,111,935

8 Gain on Sale of Fixed Assets 62.4 36,402,722

9 62.5

10 Income from Staff Welfare activities 62.6 5,965

62.901 0

62.904 -8

62.950 0

62.XXX 0

12 UI Charges received 70.100 185,176,523

TOTAL 4,307,477 372,891,982


REVENUE SUBSIDIES AND GRANTS

SCHEDULE 4

9,405,358


OTHER INCOME

SCHEDULE 5

Miscellaneous receipts11



of 144

SL.

NOPARTICULARS

ACCOUNT

CODE

Closing Balance

as on 31.03.2006

Closing Balance

as on 31.03.2005

1 POWER PURCHASE

I) Power purchase from MeSEB 70.101 27551983 21,780,699

II) Power purchase from NEEPCO 70.102 4065589918 3,924,437,476

III) Power purchase from NHPC 70.103 198296931 150,256,282

IX) Power purchase from EREB (West Bengal) 70.109 130130316 -

X) Power purchase from DVC 70.110 - -

XI) Power purchase Orissa 70.111 470

XII) Power purchase from Orissa 70.112 -

XIII) Power purchase from NTPC 70.113 94017074 9,057,458

XIV) Power purchase from DLF 70.114 259334756 300,699,189

XV) Power purchased from PTC 70.115 308,724,420

XVI) Power purchased from NVVNL 70.116 24985681

XVI) Power purchased from Adani Exports Ltd. 70.117 541787659

XVI) Power purchased from Global Energy Ltd. 70.118 38435885

XVI) Power purchase cost APGCL 70.140 1337313158

Add, U.I Charge paid 70.100 162571010 -

2 Total Power Purchase 70.1 6,880,014,841 4,714,955,524

SL.

NOPARTICULARS

ACCOUNT

CODE

Closing Balance

as on 31.03.2006

Closing Balance

as on 31.03.2005

1 Wheeling charges to PGCIL 70.400 1008883181 836,331,352

2 Transmission Charge Payable to AEGCL 70.500 515442494

TOTAL 1,524,325,675 836,331,352

SL.

NO.PARTICULARS

ACCOUNT

CODE

Closing Balance

as on 31.03.2006

Closing Balance

as on 31.03.2005

FUEL CONSUMPTION

1 Coal 71.110 -

2 Oil 71.120 to 71.125 -

3 Gas 71.130 -

4 Gas/Oil (Internal Combustion) 71.140 to 71.199 580,873,764

5 TOTAL (1 TO 4) - 580,873,764

6 Other fuel related cost71.2/71.3/71.211

/71.4 -

7 Sub Total (5 &6) - 580,873,764

OPERATING EXPENSES

8 Cost of water

Hydel Power

Thermal Power 71.5 -

9 Lubricants and cunsumable stores 71.6 1,940,423

10 Station Supplies 71.7 -

11 Sub Total for Operating exenses (8+9+10) - 1,940,423

12 COST OF GENERATION OF POWER (7 + 11) 582,814,187

13 Fuel related losses 72.1 -

TOTAL (12 TO 13) - 582,814,187

GENERATION OF POWER

SCHEDULE 7(a)


PURCHASE OF POWER

SCHEDULE 6


TRNSMISSION CHARGES

SCHEDULE 7




of 144

SL.N


Closing Balance

as on 31.03.2006

Closing Balance

as on 31.03.2005

1 Repair and Maintenance of Plant and Machinery 74.10 47,098,086

2 Repair and Maintenance of Building 74.20 10,934,324

3 74.293

4 Repair and Maintenance of Civil Works 74.30 806,785

5 Repair and Maintenance of Hydraulic Works 74.40 1,340,757

6 Repair and Maintenance of Lines, Cable Net Works etc. 74.50 88,167,403

7 Repair and Maintenance of Vehicles 74.60 8,092,543

8 74.609

9 Repair and Maintenance of Furniture and Fixures 74.70 1,990,313

10 74.703

11 Repair and Maintenance of Office Equipment 74.80 1,428,458

12 TOTAL (1 to 11) - 159,858,669

13 Development surcharge 74.900 315716673

TOTAL (12+13) 315,716,673 159,858,669

SL.N


Closing Balance

as on 31.03.2006

Closing Balance

as on 31.03.2005

1 Salaries 75.1 2910212 1,391,520,130

2 Overtime 75.211 0 7,761,862

3 Dearness Allowances 75.3 543127 578,358,342

4 Other Allowances 75.4 253680 214,360,298

5 Bonus 75.5 0 562,175

6 Sub Total (1 TO 5) 3,707,019 2,192,562,807

7 Medical Expenses Reimbursement 75.611 355679 8,312,810

8 Leave Travel Concession 75.612 47840 2,816,653

9 Earned Leave Encashment 75.617 0 50,504,151

10 Payment under workmens Compensation Act 75.629 1,271,562

11 Total Staff Cost (7 TO 10) 403,519 62,905,176

12 Other Staff Cost 75.630 to 75.649 0 309,014

75.7 2,005,590

75.769 0

Sub Total 4,110,538 2,257,782,587

14 Terminal Benefits 75.8 230633 637,554,053

Sub Total 4,341,171

15 Special Charge on BST for unfunded terminal liabilities 267,169,940

TOTAL: 271,511,111 2,895,336,640


REPAIRING AND MAINTENANCE

SCHEDULE 8


13 Staff Welfare

EMPLOYEES COSTS

SCHEDULE 9



of 144

SL.N

O.PARTICULARS

ACCOUNT

CODE

Closing Balance

as on

31.03.2006

Closing

Balance as on

31.03.2005

1 Rent Rates and Taxes 76.101-76.102 956446 8,642,386

2 Insurance 76.104-76.107 0 1,521,815

3 Telephone Charges, 76.111 643956 9,806,548

Postage.Telegram& Tele Charges 76.112-76.113 108844 8,687,868

4 Legal charges 76.121 2830342 5,618,439

5 Audit Fee 76.122 623,890

6 Consultancy charges 76.123 0 2,860,241

7 Technical Fee 76.124 1,064,956

8 Other Professional Charges 76.125 9,660

9 Conveyance and Travel 76.131-76.139 889475 33,482,027

Other Expenses

Fees & Subscription

Book and Periodicals

Printng and Stationery 76.151-76.190 4124145 29,508,406

Advertisement,Contributions Electricity Charges,

Water charges, Entertainments, Misc. Expenses

11 Freight 76.210-76.220 9,145,769

12 Other Purchase related expenses 76.230-76.299 0 13,871,629

13 Revenue Stamp on receipt issue by the Board 76.501 321,729

TOTAL 9,553,208 125,165,363

SL.N

O.PARTICULARS

ACCOUNT

CODE

Closing Balance

as on

31.03.2006

Closing

Balance as on

31.03.2005

1 Depreciation 77.1 1,129,470,908

77.2 60,997,091

2 Assets Decommissioning 77.5 -

3 Small and Low Value Item written of 77.6 -

4 Sub Total: - 1,190,467,999

5 Written down value of assets scraped 77.710 -

6 Written off of deficit of fixed assets observed upon Physical 77.720 -

7 Loss on sale of fixed assets 77.730 -

8 Total Debits (4 & 8) - 1,190,467,999

9 Gain on sale of assets excluding capital gains Rs. -

TOTAL - 1,190,467,999

SCHEDULE 11


ADMINISTRATIVE AND GENERAL EXPENSES

SCHEDULE 10

DEPRECIATION AND RELATED DEBTS (NET)


10



of 144

SL.N

OPARTICULARS

ACCOUNT

CODE

Closing

Balance as on

31.03.2006

Closing Balance

as on 31.03.2005

1 Interest on State Government Loan 78.1 105,152,972

2 Interest on Bonds 78.2 - 218,661,930

3 Interest on Debentures 78.3 -

4 Interest on foregin currency loans/Credit. 78.4 -

5 Interest on other Loans/Deferred Credit:

Interest on L.I.C. 78.501 -

Interest on I.D.B.I. 78.510 -

Interest on R.E.C. 78.520 -

Interest on PFCL 78.530 - 48,980,195

Interest on NEDFi 78.540 -

6 Penal Interest in respect of Capital Liabilities 78.590 2,428,470

7 Interest on Consumers 78.600 -

8 TOTAL INTEREST ON CAPITAL LAIBILITIES: - 375,223,567

9 Interest on Borrowings for working capital 78.7 17285511 -

Other Interest and Finance charges 78.8 5,600

10 Discount to consumers for timely payment of bills 78.820 60,955,529

11 Interest on Suppliers/Contractors 78.841-78.842 -

12 Interest on Fixed Deposits 78.850 -

13 Interest on Contributory Provident Fund 78.851 -

14 Interest on General Provident Fund 78.852 236,426,020

15 Other Interest,Other SubAccount under 78.850 -

16 Cost of raising finance 78.869 -

17 Discount on issue of Bonds/Debentures 78.871 -

18 Premium on Redumption of Bonds/Debentures 78.873 -

19 Other charges 78.881-78.889 12,268,670

20Interest on sum paid by State Government under

gurantees

21 TOTAL ( 9 TO 20 ) 17,285,511 309,655,819

TOTAL ( 8 & 21 ) 17,285,511 684,879,386


INTEREST AND FINANCE CHARGES

SCHEDULE 12



of 144

SL.

NO.PARTICULARS

ACCOUNT

CODE

Closing Balance

as on 31.03.2006

Closing Balance

as on 31.03.2005

1Capitalisation of cost of generation during trial

stage71.9 -

2 Employees cost capitalised 75.9 15,035,514

3 Administration and General Expenses capitalised 76.9 3,973,167

4 Depreciation and related costs capitalised 77.9 -

TOTAL - 19,008,681

SL.

NO.PARTICULARS

ACCOUNT

CODE

Closing Balance

as on 31.03.2006

Closing Balance

as on 31.03.2005

1 Material cost variance 79.1 (12,327,579)

2 Research and Development expenses 79.2 1,733

3 Cost of Trading/Manufacturing Activities

4 Bad & Doubtful Debts written off/provided for 79.4 2,926,035,756

5 Miscellaneous losses and written off 79.531 (369,554) 3,234,569

6 Sundry Expenses 79.7 (8,005)

TOTAL (369,554) 2,916,936,474

SL.

NO.PARTICULARS

ACCOUNT

CODE

Closing

Balance as on

31.03.2006

Closing

Balance as on

31.03.2005

1 Provision for Fringe Benefit Tax 46.8 320872 -


PROVISION FOR INCOME TAX

SCHEDULE 17

OTHER DEBITS

SCHEDULE 15


OTHER EXPENSES CAPITALISED

SCHEDULE 14




of 144

SL.NO

.PARTICULARS

ACCOUNT

CODE

Closing

Balance as on

31.03.2006

Closing

Balance as on

31.03.2005

1 INCOME RELATING TO PREVIOUS YEAR

I) Fuel related gains on prior period. 65.1 - -

II) Receipts from Consumers relating to prior periods 65.2 - -

III) Other excess provision in prior period 65.8 - 182,857,295

IV) Other Income relating to prior period 65.9 -

V) Interest income for prior period 65.4 - 27,495

VI) Excess Provision for depreciation in prior period 65.6 - 30,075,687

VII) Excess Prov - interest & finance charges (Prior Period) 65.7 - 1,377,263,342

VIII) -

IX) Other Income relating to prior period 65.9 - 447,298,025

TOTAL OF 1 - 2,037,521,844

2 PRIOR PERIOD EXPENSES/LOSSES

1) Short provision for power purchase in prior period 83.1 (275060446) 324,585,768

2) Fuel related losses and expenses relating to prior period 83.2 - 2,185,550

3) Operating expenses prior period 83.3 - 588,372,188

4) Excise duty on Generation relating to prior period 83.4 - -

5) Employees cost relating to prior period 83.5 - 5,230,316

6) Depreciation under provided in prior period 83.6 - -

7) Interest and other finance charges relating to prior period 83.7 - 500

8) Other charges relating to prior period 83.8 - 349,347,289

TOTAL OF 2 (275,060,446) 1,269,721,611

3 NET PRIOR PREIOD CREDITS/CHARGES(1-2) OR (2-1) AS (275,060,446) (767,800,233)


NET PRIOR PERIODS CREDITS/CHARGES

SCHEDULE 18



of 144

NET BLOCK

At the begining of

current year 2005-

06

AdditionAdjustment/D

eduction

At the end of

the year

2005-06

At the begining of

current year 2005-

06

Depreciation

for the year

Adjustment /

Depreciation

At the end of

the year

2005-06

At the end of

the year

2005-06

GROSS BLOCK DEPRECIATION NET BLOCK

1 Land & Rights 10.1 - - - - - - 268403179 268403179

2 Building 10.2 - - - - 1217239813 699147567 518092246

3 Hydraulic 10.3 - - - - 285085334 147287019 137798315

4 Other Civil Works 10.4 - - - - 401329789 80764927 320564862

5 Plant & Machinery 10.5 - - - - 6892645880 5262224770 1630421110

6 Lines & Cable Network 10.6 - - - - 8789356283 7533040661 1256315622

7 Vehicles 10.7 - - - - 143989395 110185260 33804135

8 Furniture & Fixtures 10.8 938,231 - 938,231 - 938,231 153261506 139996316 13265190

9 Office Equipemnt 10.9 937,562 - 937,562 - - 937,562 42321561 26528202 15793359

SUB TOTAL - 1,875,793 - 1,875,793 - - - - 1,875,793 18,193,632,740 13,999,174,722 4,194,458,018

10

Capital Expenditure

resulting in an asset not

belonging to Board

11.1 - - - - - - - - -

11 Spare Units/Service Units 11.2 - - - - - - - - -

12Capital spares at

Generating Stations11.3 - - - - - - 1607594048 1027133518 580460530

13

Assets taken from

licencees pending final

verification

11.5 - - - - - - - - -

TOTAL: - 1,875,793 - 1,875,793 - - - - 1,875,793 19,801,226,788 15,026,308,240 4,774,918,548


FIXED ASSETS AND PROVISION FOR DEPRECIATION

SCHEDULE 19

As on 31.03.2005

Sl No Assets GroupA/c

Code

GROSS BLOCK PROVISION FOR DEPRECIATION



of 144

Sl.

No.Particualrs Account Code

Closing

Balance as on

31.03.2006

Closing

Balance as on

31.03.2005

1 Capital Works in Progress 14 7,391,067,608

2 Contracts in progress 15.1 -

3 SUB TOTAL 7,391,067,608

4Revenue expenses pending

allocation over capital works15.2 1,354,162

5Provision for completed

works15.5 -

6

Construction facilities (Cost

less provision for

depreciation)

15.6 72,730

7Assets at Construction

stage (3 TO 6) 7,392,494,500

8

Advances for

suppliers/Contractors

(capital)

25.1 to 25.9 1,098,792,372

TOTAL: (7+8) 8,491,286,872

SCHEDULE 21


CAPITAL EXPENDITURE IN PROGRESS.

Balance in the

beginning of

the previous

year

Addition

during the

previous year

Deduction during

the previous yearSl.No.

Assets

GroupAccount Code

Balance at the

end of the

previous year

Addition

during the

year

Deduction during

the year

Balance at

the end of the

end of this

year

- - - 1 - 16.000 - - - -

Balance in the

beginning of

the previous

year (2003-04)

(Rs)

Cost deferred

during the

previous

year. (Rs)

Cost charged to

the Revenue

during the previous

year

ParticularsAccount

Code

Balance at the

end of the

previous year

2003-04

Cost deferred

during the year

Cost

Charged to

revenue/Adj.

during the

year

Balance at the

end of the end of

this year 2004-05

- - -

Deferred Revenue expenditure

Compensation for premature

take over of licensee

17.2 - - - -

- - - Total deferred revenue

Expenditure: - - - -

- - -

Exepnditure on Survey/feasibility

studies of project not yet

sanctioned

17.3 - - - -

- - - Expenditure in connection with

lease financing17.4 - - - -

- - - Total deferred cost 17 - - - -

Balance in the

beginning of

the previous

year (2002-03)

(Rs)

Cost deferred

during the

previous

year. (Rs)

Cost charged to

the Revenue

during the previous

year

INTANGIBLE ASSETSAccount

Code

Balance at the

end of the

previous year

2003-04

Cost deferred

during the year

Cost

Charged to

revenue/Adj.

during the

year

Balance at the

end of the end of

this year 2004-05

- Payment to acquire right to

receive power from other bodies18.100 - - - -

- - - Expenses for formating &

organising the Board18.200 - - - -

- - - TOTAL - - - -

SCHEDULE 24


INTANGIBLE ASSETS


ASSETS NOT IN USE

SCHEDULE 22


DEFERRED COST

SCHEDULE 23



of 144

Sl.No. InvestmentAccoun

t Code

Balance at the

begining of

current year

2005-06

Further

Investment

during the year

2005-06

Investment

realised/ Adj.

during the year

2005-06

Balance at the

End of this year

2005-06

Details of

Investments

calssification etc.

pledged or given as a

Security deposit

RS. RS. RS. RS. RS.

1 Investment against Funds 20.1 - - - - -

2 Investments other than fund Investment 20.2 5343000 - - 5,343,000 -

3 Investments in subsidies 20.3 - - - - -

4 Investment in partership/ joint ventures 20.4 - - - - -

GRAND TOTAL 5,343,000 - - 5,343,000 -


INVESTMENT

SCHEDULE 25

Sl.

No.Particulars

Account

Code

Closing

Balance as on

31.03.2006

Closing

Balance as on

31.03.2005

1 Stock 26(a) - 2,267,920,751

2 Receivable against supply of power 26(b) 3424139320 2,635,230,870

3 Cash and Bank 26(c) 439104929 2,582,052,483

4 Loans and advances 26 (d) 267508 1,013,753,822

5 Sundry receivable 26 (e) 14977849 723,662,976

TOTAL 3,878,489,606 9,222,620,902

Sl.N

o.Particulars

Account

Code

Closing

Balance as on

31.03.2006

Closing

Balance as on

31.03.2005

1 Fuel Stock 21/21.101/105/108 39,624,586

2 Coal in transit 21.121 - -

3 Oil in transit 21.125 - -

4 Capital Materials 22.20/.59 - -

5Block of materials at construction

stores22.60/22.61 - 1,721,127,065

6 Block of materials at other stores 22.62/22.63 - 392,531,809

7 Materials at site 22.64/22.65 - 846,379

8 Materials pending Inspection 22.66/22.67 - -

9 Materials in transit 22.68/22.69 - -

10 Other materials Accounts 22.7 - 113,363,517

11Stocks excess/shortages pending

investigation22.8 - 427,395

TOTAL - 2,267,920,751

STOCK

SCHEDULE 26(a)


TOTAL CURRENT ASSETS

SCHEDULE 26




of 144

Sl.N

o.Particulars Account Code

Closing

Balance as on

31.03.2006

Closing Balance

as on 31.03.2005

Sundry debtors- Discom for Bulk supply No Code 0

1 Sundry debtors for Sale of Power 23.1 4,120,958,250

2 Debtor for sale of Power-LAEDCL 23.161 1397607470

Debtor for sale of Power-UAEDCL 23.162 1006097214

Debtor for sale of Power-CAEDCL 23.163 930521040

2 Sundry debtors for Inter State Sale of Power 23.6 89913595 91,607,595

3 Sundry debtors for Electricity Duty 23.2 286,192,985

4 Provision for unbilled revenue 23.4 - 392,614,271

5Dues from premanently Disconnected consumers (net of security

deposit forfeited )23.5 70,776,132

23.8 -

6 Sundry Debtors Miscellaneous Receipts from consumers 23.7 1 1,598,274,995

SUB TOTAL (1 TO 6) 3,424,139,320 6,560,424,228

7 Less: Unposted receipts 23.3 -

SUB TOTAL (6 TO 7) 3,424,139,320 6,560,424,228

9 Less: Provision for doubtful dues from consumers 23.9 3,925,193,358

TOTAL 3,424,139,320 2,635,230,870

Sl.

No.Particulars Account Code

Closing

Balance as on

31.03.2006

Closing Balance

as on 31.03.2005

1 Cash in Hand 24.1 47598106 141,100,890

2 Cash Imprest with staff 24.2 (219689) 51,196,891

3 Balance with Banks a.24.3 / 24.4 81333779 1,582,121,727

4 Cash in transit b.29.00 62464518 282,470,359

5 Cash in transit c.34.00 245423850 478,065,877

6 Cash in transit 33/ 24.5/24.6 2504365 47,096,739

TOTAL 439,104,929 2,582,052,483

CASH AND BANK BALANCE

SCHEDULE 26 (C)


REVEIVABLE AGAINST SUPPLY OF POWER

SCHEDULE 26 (b)




of 144

Sl.


Closing

Balance as on

31.03.2006

Closing

Balance as on

31.03.2005

Rs. Rs.

1 Advances for O&M suppliers/work 26.1 to 26.7 0 651,234,261

2 Advances for fuel suppliers 26.80 356,937,272

3 Loans and Advances to Staff 27.1/27.2 27144 6,293,169

4 Loans and Advances to Licensees 27.30

5 Advance Income Tax Deduction at Source 27.40

6 Advance for GPF/CPF 27.50 240364

7 Loans and Advances Other 27.80 (710,880)

8 TOTAL 267,508 1,013,753,822

9 Less Provision for doubtful loans and advances 27.90 -

TOTAL (7 -8) 267,508 1,013,753,822

Sl.


Closing

Balance as on

31.03.2006

Closing

Balance as on

31.03.2005

1 Sundry Debtors Trading Account 28.10 1885811 1,885,811

2 Income accrued and due on investment 28.210 to

28.290

3 Income accrued but not due 28.30 139472 36,584,903

4 Amount receivable from Employees/Ex employees 28.40 7,275,385

5 Fuel related receivable and claimsgrade difference of coal 28.51

(Net ofprovision for loss on grade/difference) 28.51

6 Railway claims for coal 28.513/28.514 74,791,125

7 Other-Other Sub Account Under 28.56

8 Other claims and receivable account 28.7/28.8 95,383,583

9 Account receivable other than RE Subsidy 14,410,742

10 Deposits28.9(excluding

28.930)50000 8,759,364

11 Amount receivable IT Authority 28.915 12902566 6,775,040

12 Inter Units Accounts

30 to

39(Excluding

33/34)

0 477,797,023

TOTAL 14,977,849 723,662,976

SUNDRY RECEIVABLES

SCHEDULE 26 (e)



LOANS AND ADVANCES

SCHEDULE 26 (d)



of 144

Sl.


Closing

Balance as on

31.03.2006

Closing

Balance as on

31.03.2005

1Security Deposit from Consumers (in

cash)48.1 1,090,836,890

2Security Deposit from consumers (other

than in cash)48.2 6,718,478

3 Interest payable on consumers deposits 48.3 -

TOTAL 1,097,555,368

Sl.


Closing

Balance as on

31.03.2006

Closing

Balance as on

31.03.2005

1 Laibility to Railway for Coal receipt 40.1 - 73,936,709

2 Laibility to grade different of coal 40.2 - -

3 Unpaid coal bills 40.7 - -

4 Other fuel related liabilities 40.3/40.4/40.5/40.6 - 2,989,599,888

5 Liabilities for purchase of power 41.1&41.2 1295298592 6,193,591,373

6 Liability for capital suppliers/capital works42.1/42.3/42.5/42.6/42

.2 - 30,051,724

7 Liabilities for O&M suppliers/O&M works 43.1 to 43.6 - (15,579,683)

8 Staff related laibilities and provisions 44.1 to 44.4 123,538 434,594,205

9Deposits and retentions from suppliiers

and contractors.46.1 - 111,307,987

(Less: deposits received in form of

investments etc.)28.930 - 220,933

10Electricity duty and other levies payable to

Government46.3 - 180,120,547

11 Liability for expenses 46.4 (736,614) 183,934,216

12 Amount owing to licensees 46.6

13Accrued/unclaimed amount relating to

borrowings46.7

14 Provision for Income Tax 46.8 320872

15 Other liabilities and provisions 46.9 99780367 2,664,814,972

16Liabilities on account of contributory

provident fund46.936

17 Payable to pension Trust 46.500 193,443,509

18 Other Liabilities(Grants & Loan)- APGCL 46.720 154,823,934

19 Other Liabilities(Grants & Loan)- AEGCL 46.721 54,003,483

20 Other Liabilities(Grants & Loan)- LAEDCL 46.722 168,719,220

21 Other Liabilities(Grants & Loan)- UAEDCL 46.723 101,749,464

22 Other Liabilities(Grants & Loan)- CAEDCL 46.724 270,245,494

23 Other Liabilities(TDR)- APGCL 46.725 -

24 Other Liabilities(TDR)- AEGCL 46.726 -

25 Other Liabilities(TDR)- LAEDCL 46.727 -

26 Other Liabilities(TDR)- UAEDCL 46.728 -

27 Other Liabilities(TDR)- CAEDCL 46.729 -

28 Bank Overdraft Account 46.975 234,576,916

29 Sub Total 2,572,348,775 12,846,592,871

30Deposit for Electrification service

connection etc.47 935,838,016

31 TOTAL 2,572,348,775 13,782,430,887

OTHER CURRENT LIABILITIES

SCHEDULE 28


SECURITY DEPOSIT FROM CONSUMERS

SCHEDULE 27




of 144

SUBSIDY RECEIVABLE FROM GOVERNMENT

SCHEDULE 29

Sl.

No.Particulars

Account

Code

Closing Balance as

on 31.03.2006

Closing Balance as

on 31.03.2005

1 Capital Subsidy/Grant receivable 28.610 - -

2Revenue Subsidy/Grant receivable (RE

Subsidy)28.620 - 11,815,923,599

TOTAL - 11,815,923,599


BORROWING FOR WORKING CAPITAL

SCHEDULE 30

Sl.

No.Particulars

Account

Code

Closing Balance as

on 31.03.2006

Closing Balance as

on 31.03.2005

1 Cash credit from Banks 50.1

2 Bank Overdrafts 50.3

TOTAL - -


Sl.

NoParticulars

A/c

Code

Due at the end of the

previous year 2004-05

Becoming due

during this year

Payment made/Adj

during the year


year 2005-06


year 2004-05 (As on

31.03.05)

1 Repayment due on

Public Bond 51.101 - -

Loans from LICI 51.102 - - - 169401979

Loans from R.E.C. 51.103 - - - 774514049

Loans from StateGovt. 51.104 - - - 6820868269

I.D.B.I. Loans 51.105 - - - -

Loans from PFC 51.109 - - - -

Loan from NEDFi 51.110 - - - -

2 Total repayment due on - - - - 7,764,784,297

Interest accrued and due on

Loans from LIC 51.201 - - - 506592694

Loans from REC 51.202 - - - 2552738449

Public Bonds 51.203 - - 319713528

IDBI Loans 51.204 - -

State Govt. Loan (incl Penal Int) 51.205 25,207 25,207 23142066546

Agriculture refinance corpn loan 51.206 - - -

Agriculture finance Corpn loan 51.207 - - -

Loans from PFC 51.209 - - -

Loan from NEDFi 51.210 - - -

Total Interest accrued and due 25,207 - - 25,207 26,521,111,217

25,207 - - 25,207 34,285,895,514


PAYMENT DUE ON CAPITAL LIABILITIES

SCHEDULE 31

Sl.N

o.Particulars

Details of interest

rate moratorium

and rate applicable

at the end of the

year

A/c

Code

Outstanding at the

end of the previous

year 2004-2005

Amount

received during

the year 2005-

06

Repayment/Adj

due during the

year 2005-06

Outstanding at

the end of the

year 2005-06

Outstanding at

the end of the

year 2004-05 (As

on 31.03.05)

1 Public Bond 52.110 - 1892895000

2 L.I.C. 52.510 - 43793333

3 R.E.C. 53.301 - 1408661763

4 I.D.B.I. 53.402 -

5 PFCL 53.201 502,685,083 502,685,083 - 733451244

6 NEDFi 53.404 - - - -

7 TOTAL of (1 to 6) - 502,685,083 502,685,083 - 4,078,801,340

8 REC (Inventory Loan) 53.302 - - - -

TOTAL - 502,685,083 502,685,083 - 4,078,801,340


CAPITAL LIABILITIES

SCHEDULE 32



of 144

Sl.N

o.Particulars

Details of interest

rate moratorium

and rate

applicable at the

end of the year

A/c

Code

Outstanding at

the begining of

the current year

2005-06

Amount received

during the year

2005-06

Repayment/Adj

due during the year

2005-06

Outstanding at

the end of the

year 2005-2006

Outstanding at

the end of the

year 2004-05

(As on 31.03.05)

1

State Govt Loan

U/S 60 of the

Elect. (S) Act,1948

54.100 - - -

2

State Govt. U/S 64

of the Elect.(S)

Act,1948

54.200 534,300 - 534,300

6483813689

3 TOTAL LOAN 534,300 - - 534,300 6,483,813,689

4

Amount Received

from GoA against

FRP liabilities

taken over

54.600 389,500,000 3,217,833,001 3,576,108,630 31,224,371 389500000

TOTAL 390,034,300 3,217,833,001 3,576,108,630 31,758,671 6,873,313,689


FUNDS FROM STATE GOVERNMENT

SCHEDULE-33

1

Equity capital under

Section 66-A of the

Electricity (Supply)

Act 1948

54.500 998,404,248 - - 998,404,248 13500000000

TOTAL 998,404,248 - - 998,404,248 13,500,000,000


CAPITAL FORMATION OF BOARD

SCHEDULE-33(A)

CAPITAL FORMATION OF BOARD

Balance outstanding at

the end of the year

2004-2005 (As on

31.03.05)

Increase in

Capital

during the

year

Reduction

in capital

during the

year

Balance

outstanding at the

end of the year

2005-2006

ParticularsA/c

Code

Amount

Outstanding at the

end of the year

2004-2005

Sl.

No

Rs. Rs. Rs. Rs.

1 Consumers Contribution 55.1 - 817332801

2 Total Consumers Contribution - - - 817,332,801

3 Subsidies towards cost Capital Assets 55.2 - - -

4 Grants towards cost of capital Assets 55.3 - - 3445790452

5 Donated Capital Assets 55.4 - - - 108447500

- - - 4,371,570,753 TOTAL

A/c Code

At the begining of the

current year 2005-06

(As on 01.04.2005)

Addition during the

year 2005-06Sl.No Particulars

Total at the end of

the year 2005-06


CONTRIBUTIONS,GRANTS AND SUBSIDIES TOWARDS COST OF CAPITAL ASSTS

SCHEDULE-34

Total at the end of

the year 2004-05

(As on

31.03.2005)

Sl.No Particulars A/c Code

Balance at the

end of the

previous year

2004-05

Addition during

the year 2005-

06

Deduction during

the year 2005-06

Balance at the

end of the year

2005-06

Balance at the

end of the year

2004-05 (As on

31.03.05)

Rs. Rs. Rs. Rs. Rs. Rs.

1 General Reserve 56.100 - - 2598220

2 Capital Reserve 56.200 - - 228149440

3 General Provident Fund 57.100-130 - - 3101053332

4 Staff Pension Fund 57.140 - - - -

5 Total Reserve - - - - -

6 Reserve Fund 57.160 - - - -

7 Development Surcharge 57.170 315,716,673 315,716,673 -

8 Total Reserve Fund - - - -

- 315,716,673 - 315,716,673 3331800992TOTAL


RESERVE AND RESERVE FUNDS

SCHEDULE-35



of 144

Annexure VI: Additional Infor mation to arrive at P urchase cost of Power from D LF as required by A ERC Order No. AERC.127/2005/Pt-II dat ed 19-03-07

The following additional documents/ information to arrive at the purchase cost of power from

DLF including calculation of variable cost are annexed as below as per AERC order no.

AERC.127/2005/Pt-II dated 19-03-2007 with all supporting information of input cost for 2006-

07.

Appendix – 1: Detail calculation of working capital for IWC.

Appendix – 2: All relevant supporting documents in connection with calculation of AFC and

VC.

Appendix – 3: Observation of M/S DLF on various element of tariff during processing of ARR

as per PPA.

PETITION FOR ANNUAL REVENUE REQUIREMENT FOR THE FINANCIAL ... Trader MYT tariff petition 0708...

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