MERC Tells TPC To File Tariff Plan For 03-04 By Oct 1

Mumbai, Sept 17: | Updated: Sep 18 2003, 05:30am hrs
The Maharashtra Electricity Regulatory Commission (MERC), in a pathbreaking order on Wednesday, gave an ultimatum to Tata Power Company (TPC) to file its tariff proposal for 2003-04 by October 1. TPC, in view of the order, would also have to file its annual revenue requirement (ARR) and fuel adjustment cost (FAC) for 2003-04 and also for the period from 1999-00 to 02-03 by October 1.

MERC expressed its displeasure over TPCs non-compliance of its past orders in this regard. It warned that it would be left with no option but to initiate action under MERC regulations 44 and 45 if it fails to submit the tariff proposal during the stipulated time period.

TPC currently charges Rs 3.35 per unit to BrihanMumbai Electric Supply and Transport (BEST) and sells power to Reliance Energy (REL) at Rs 3.53 per unit. Recently, TPC had offered to provide power to the Maharashtra State Electricity Board (MSEB) at Rs 2.52 per unit.

During 2002-03, TPC had mobilised Rs 3,300 crore on account of its tariff charged to REL. However, RELs revenues were of the order of Rs 2,300 crore and BESTs Rs 1,622 crore for the same fiscal.

MERC chairman P Subrahmaniam told FE that such directives have been given during a hearing on separate petition involving TPC and REL. TPC would have to submit its tariff proposal for 2003-04 by October 1, he said.