Date: 17-May-2024Category: Extra OrdinaryState: Union GovernmentCountry: India
In pursuance of the Tariff based Competitive bidding Guidelines for Transmission Service, amended up to 10th October, 2008, issued by the Ministry of Power
The notification issued by the Central Electricity Regulatory Commission (CERC) announces the annual inflation rate for escalable transmission charges and the discount rate for determining relief under Force Majeure Event & Change in Law during the construction period for transmission service agreements.
These rates are applicable for the period from April 1, 2024, to September 30, 2024.
Key Changes
Annual inflation rate for escalable transmission charges for payment purposes is set at 4.96%.
Discount rate for determining relief under Force Majeure Event & Change in Law during the Construction Period is set at 9.25%.
Impact Analysis
Transmission Service Providers
Action Items: Transmission service providers need to adjust their billing and revenue projections based on the notified annual inflation rate of 4.96% for the period from April 1, 2024, to September 30, 2024.
Project Developers
Action Items: Project developers should update their financial models to reflect the discount rate of 9.25% when assessing potential relief under Force Majeure or Change in Law scenarios during the construction phase for projects between April 1, 2024, and September 30, 2024.
Electricity Consumers
Action Items: Distribution companies should monitor the impact of these changes and adjust tariffs accordingly, ensuring transparency and minimal impact on consumers.
Regulatory Bodies
Action Items: CERC should conduct periodic reviews to assess the effectiveness of these rates and make necessary adjustments to ensure fair compensation for transmission service providers and reasonable costs for project developers.
Key Entities Referenced
Central Electricity Regulatory Commission (CERC): The regulatory body responsible for notifying the annual inflation rate and discount rate for transmission services.
Ministry of Power: The ministry that issued the Tariff based Competitive-bidding Guidelines for Transmission Service and the Revised Guidelines and Standard Bidding Documents (SBDs) for procurement of Inter-State Transmission Services (ISTS) through Tariff Based Competitive Bidding (TBGB) process.
Tariff based Competitive-bidding Guidelines for Transmission Service: Guidelines amended up to October 10, 2008, issued by the Ministry of Power, which this notification is in pursuance of.
Revised Guidelines and Standard Bidding Documents (SBDs) for procurement of Inter-State Transmission Services (ISTS) through Tariff Based Competitive Bidding (TBGB) process: Guidelines dated August 6, 2021, issued by the Ministry of Power, which this notification also references.
Standard Transmission Service Agreement: The agreement document that outlines the terms and conditions for transmission services, including the application of the notified rates.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-18052024-254247
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असाधारण
EXTRAORDINARY
भाग III—खण् ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
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[जवज्ञापन-III/4/असा./130/2024-25]
CENTRAL ELECTRICITY REGULATORY COMMISSION
NOTIFICATION
New Delhi, the 2nd April, 2024
No. Eco T1/2024-CERC.— In pursuance of the "Tariff based Competitive-bidding Guidelines for
Transmission Service", amended up to 10th October, 2008, issued by the Ministry of Power and Schedule-7 of the
Standard Transmission Service Agreement documents, the Central Electricity Regulatory Commission (CERC) hereby
notifies the following rate for the purpose of payment for the period from 01.04.2024 to 30.09.2024.
Annual Escalation Rate applicable for the purpose of payment as per the Transmission Service Agreement:
Sl. No. Description Annual Escalation Rate for
Payment
1. Annual inflation rate for escalable transmission charges for the 4.96%
purpose of payment
2. In accordance with Schedule-9 of the Standard Transmission Service Agreement under the “Revised
Guidelines and Standard Bidding Documents (SBDs) for procurement of lnter-State Transmission Services (ISTS)
through Tariff Based Competitive Bidding (TBGB) process" dated 6th August 2021 issued by the Ministry of Power,
the CERC hereby notifies the following discount rate for the period from 01.04.2024 to 30.09.2024.
Discount rate for determining the Relief under Force Majeure Event & Change in Law during Construction
Period as per the Transmission Service Agreement:
Sl. No. Description Rate
1. Discount rate for determining the Relief under Force Majeure 9.25%
Event & Change in Law during Construction Period
HARPREET SINGH PRUTHI, Secy.
[ADVT.-III/4/Exty./130/2024-25]
5Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.