6 months ago
2
Tamil Nadu Electricity Regulatory Commission (TNERC) said a missive has been written to Principal Accountant General Chennai for information of an audit enactment to transportation retired intensive audit of the circumstances which pb to powerfulness organisation companies continuing without betterment of regulatory assets.
The costs incurred by powerfulness organisation companies, which are not recovered successful a timely manner, pb to the regulatory assets (RA).
The Supreme Court had issued broader directions to all the State Electricity Regulatory Commissions (SERCs), mandating liquidation of bequest RAs wrong 4 years. The apical tribunal has capped the instauration of caller RAs astatine 3% of the Annual Revenue Requirement (ARR). It directed the Appellate Tribunal for Electricity (Aptel) to show the implementation and enforce accountability connected the instauration and liquidation of RAs.
As per a petition filed by TNERC with the Aptel, the State powerfulness utilities’ regulatory assets stood astatine ₹83,000 crore.
The State authorities has issued an bid for the restructuring and bifurcation of the Tamil Nadu Generation and Distribution Corporation Limited (Tangedco) for the enactment of 3 companies, namely the Tamil Nadu Power Generation Corporation Limited (TNPGCL), the Tamil Nadu Green Energy Corporation Limited (TNGECL), and the Tamil Nadu Power Distribution Corporation Limited (TNPDCL), it said.
The regulatory assets quantified at ₹83,000 crore were allocated to the caller companies – TNPGCL - @ 27% - i.e.,₹22,110.16 crores, TNGECL@- 2% - allocation of ₹1,851.71 crores and TNPDCL @-71% - allocation of ₹59,038 crore, TNERC said.
TNERC further said it is successful treatment with the authorities authorities and TNPDCL connected the liquidation of regulatory assets wrong the clip arsenic stipulated by the Supreme Court. On finalisation of the strategy of liquidation of the Regulatory plus of ₹59,038 crores relating to TNPDCL by the authorities authorities and the Utility, the roadmap/trajectory volition beryllium submitted, it said.
A missive has been addressed to the Principal Accountant General, Chennai, seeking their assistance for information of an audit enactment to undertake the audit regarding the contented of regulatory assets and to furnish the audit study connected a clip bound basis, TNERC said.
Saying hectic consultations are connected with the authorities authorities and the powerfulness organisation company, TNERC sought for assistance of clip to settee the issue.
According to ratings steadfast ICRA’s estimate, the RA presumption astatine the all-India level remains elevated astatine ₹3 lakh crore, chiefly driven by Tamil Nadu, Uttar Pradesh, Rajasthan, Maharashtra, Delhi, West Bengal, and Karnataka.
