Gridco pegs annual revenue requirement at Rs 9,000 cr

Odisha govt's power company says it will suffer revenue deficit of Rs 2,398.92 cr

State run bulk power purchaser, Gridco has pegged net annual revenue requirement (ARR) at Rs 9,281.74 crore through energy charges from the discoms (distribution companies) for sale of 26,156 mu (million units) in 2015-16.

In its application to the Odisha Electricity Regulatory Commission for determination of bulk supply price (BSP) for next financial, the bulk power trader has proposed an average BSP at the rate of 354.86 paise per unit for recovering its proposed ARR.

The BSP is the rate for supply of power to distribution and retail supply licensees.

Gridco has said that it will suffer revenue deficit of Rs 2,398.92 crore considering the proposed net ARR of Rs 9,281.74 crore and the revenue of Rs 6,882.82 crore to be earned from sale of the proposed energy of 26,156 mu to discoms for 2015-16 at the existing BSP rate approved by OERC for 2014-15.

The proposed ARR includes power purchase cost of Rs 7,604.52 crore, interest and financing charges of Rs 493.13 crore and pass through expenses of Rs 1,051.93 crore, among others.

The power purchaser aims to procure 29,304.60 mu of electricity from different sources at a total cost of Rs 7,604.52 crore from different sources. The total purchase estimate includes 20,839.61 mu from the state utilities at cost of Rs 4,157.83 crore and 8,464.99 mu for Rs 3,443.31 crore from the central utilities.

In its application, Gridco estimates to trade surplus power of 2,119.14 mu in 2015-16. The total power requirement is pegged at 9,401 mu for Central Electricity Supply Utility (Cesu), currently managed by OERC. Similarly, the requirements of three other discoms, owned and operated by Reliance Infrastructure-North Eastern Electricity Supply Company of Odisha Limited (Nesco), Western Electricity Supply Company of Odisha Limited (Wesco) and Southern Electricity Supply Company of Odisha Limited (Southco) are estimated at 5,625 mu, 7,500 mu and 3,630 mu respectively.