Cesc Moves Hc To Seek Time For Tariff Revision

CESC, the RPG-owned power utility, has filed an application with the Calcutta High Court, seeking more time for filing its petition for revision of electricity rates for 2002-03. Company sources confirmed the move.

CESC had earlier approached the West Bengal Electricity Regulatory Commission (WBERC) for an extension of the filing date. The panel, however, denied it on the grounds that this would result in an increased burden on consumers.

A delayed filing would mean a delayed tariff revision award, with a considerable period of backlog to be cleared. Further, CESC consumers were already paying arrears and adjusted rates for previous years as decided by the WBERC.

CESC is currently billing consumers on the basis of tariff award for 2000-01 and 2001-02. However, it has also moved the HC seeking a revision of the WBERC award along with several other power companies.

CESC was directed by WBERC to submit a tariff revision application for 2002-03 within three months of the tariff award for 2000-01 and 2001-02. CESC's move, however, indicates that it would like to wait until the HC delivers its ruling on tariff for 2000 to 2002 before submitting tariff proposal for the next financial year.

Meanwhile, the company has declared a loss of Rs 171.95 crore for 2000-01, against a loss of Rs 71.45 crore in the previous year. Although the company reported a Rs 136.33 crore profit before depreciation, a charge of Rs 308.29 crore as depreciation pulled it into the red.

Losses after exchange loss, special appropriation adjustment and contingencies reserve appropriation increased losses to Rs 203.81 crore against Rs 124.22 crore.

Deficits brought forward from the previous year, along with general reserves and capital redemption reserve enhanced its loss figures to Rs 458.36 crore in 2000-01 and Rs 254.54 crore in 1999-00.