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Staff Paper based on NDMC’s Petition for true up for FY 2011-12, and ARR for FY 2013-14
Page 1
Introduction
1.1 New Delhi Municipal Council (NDMC), one of the Distribution Licensees, has
filed the Petition for approval of true up for FY 2011-12, and Revised Aggregate
Revenue Requirement (ARR) and corresponding determination of tariff for FY
2013-14.
1.2 This Staff Paper contains the summary of the Petition filed by NDMC for approval
of true up for FY 2011-12 (based on audited accounts), and ARR and tariff of FY
2013-14 (based on projections).
1.3 For the purpose of comparison, the Staff Paper includes figures approved in the
Multi Year Tariff (MYT) Order dated March 07, 2008 (referred to as ‘MYT Order
2008’ hereafter), Order dated August 26, 2011 (referred to as ‘Aug 2011 Order’
hereafter), and MYT Order dated July 13, 2012 (referred to as ‘MYT Order’
hereafter).
1.4 As per the DERC MYT Regulations, the Tariff for FY 2013-14 shall be based on the
ARR approved by the Commission, which broadly has the following components:
a) Power Purchase cost
b) Operation and Maintenance (O&M) expenses
Employee expenses
Administrative & General (A&G) expenses
Repair & Maintenance (R&M) expenses
c) Return on Capital Employed (RoCE)
d) Depreciation
e) Non-tariff income
1.5 The Commission shall true up the uncontrollable parameters (Sales and Power
Purchase) vis-a-vis the audited accounts of the Distribution Licensee after
prudence check for FY 2011-12.
1.6 For controllable parameters, any surplus or deficit on account of O&M expenses
Staff Paper based on NDMC’s Petition for true up for FY 2011-12, and ARR for FY 2013-14
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shall be to the account of the Distribution Licensee and shall not be trued up in the
ARR. Depreciation and RoCE shall be trued up as first Control Period (FY 2007-08
to FY 2011-12) has come to an end, based on the capital expenditure and
capitalization undertaken by the Distribution Licensee for each year of the Control
Period vis-à-vis capital expenditure and capitalization approved by the
Commission in the MYT Order 2008 and Aug 2011 Order.
Truing Up for FY 2011-12
Energy Sales and Revenue
1.7 In its Petition, NDMC has submitted that its actual energy sales in FY 2011-12 were
1246.54 MU compared to energy sales of 1293.72 MU approved by the
Commission for FY 2011-12 in the August 2011 Order. Since energy sales are
treated as an uncontrollable factor, NDMC has requested the Commission to
approve true up of sales and revenue for FY 2011-12 based on its audited accounts,
as shown below:
Table 1: Sales and Revenue for FY 2011-12
Sr.
No. Category
Aug 2011 Order As Per Petition
Sales
(MU)
Revenue
(Rs. Crore)
Sales
(MU)
Revenue
billed
(Rs. Crore)
Revenue
Collected
(Rs. Crore)
1 Domestic 258.88 75.53 243.89
# #
A Single Delivery Point 94.34 31.71 86.46
B Separate Delivery Point 145.87 37.07 141.63
C Domestic Power 18.66 6.74 15.80
2 Non Domestic 254.89 124.75 247.70
A Single Phase 50.10 22.09 48.95
B Three Phase 204.80 102.66 198.75
3 Mixed Load 726.17 399.90 713.78
A Supply at 11 kV(HT) 514.96 269.16 510.99
B Supply on LT where
supply is given from 3.72 2.47 3.96
Staff Paper based on NDMC’s Petition for true up for FY 2011-12, and ARR for FY 2013-14
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Sr.
No. Category
Aug 2011 Order As Per Petition
Sales
(MU)
Revenue
(Rs. Crore)
Sales
(MU)
Revenue
billed
(Rs. Crore)
Revenue
Collected
(Rs. Crore)
NDMC sub station
C
Supply on LT where
applicant provides built
up space for sub-station
207.48 128.28 198.83
4 Small Industrial Power 0.31 0.15 0.31
5 Public Lighting 8.81 3.17 12.95
6 Others 8.66 4.04 7.69
7 DMRC 36.00 12.00 20.23
8 Total 1293.72 619.54 1246.54 645.96 642.18
#NDMC Petition doesn’t contain the breakup of revenue billed and revenue collected.
This information is sought from the licensee.
AT&C Loss for FY 2011-12
1.8 In its Petition, NDMC has submitted the actual AT&C loss and Distribution loss
figures for FY 2011-12, which are higher than the loss level target set for FY 2011-
12. The following table shows the actual AT&C loss along with Distribution loss
and Collection Efficiency for FY 2011-12 vis-à-vis that approved in the August
2011 Order:
Table 2: AT&C Losses for FY 2011-12
Particulars As per Aug 2011 Order As per Petition
Distribution Losses 9.60% 11.51%
Collection Efficiency 100.00% 99.40%
AT&C Losses 9.60% 12.02%
Power Purchase Requirement
1.9 The quantum of power purchase is based on the sales of energy by the Licensee as
well as the loss levels. Higher sales require a greater quantum of power to be
Staff Paper based on NDMC’s Petition for true up for FY 2011-12, and ARR for FY 2013-14
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purchased. Similarly, higher loss levels also require a proportionately greater
amount of power purchase by the Licensee because it needs to meet the sales (in
MU) after accounting for various losses in the process of supplying electricity.
1.10 The energy sale for that year is grossed up by the loss levels for the year, to arrive
at the required quantum of power purchase for that year in the following manner:
Quantum of Power Purchase (MU)= EnergySales
(1- Distribution Loss(%)/100
1.11 The table below shows the actual sales, loss levels and power purchase for FY
2011-12, as submitted by the Licensee:
Table 3: Power Purchase Requirement (MU) for FY 2011-12
Particulars FY 2011-12
As per Aug 2011 Order As per Petition
Sales 1293.72 1246.54
Distribution Loss 9.60% 11.51%
Power Purchase Requirement 1431.11 1408.59
Power Purchase Cost
1.12 As per the DERC MYT Regulations, 2007, the Licensee is allowed to recover the
cost of power procurement from sources approved by the Commission for supply
to its consumers. The following power procurement sources are approved by the
Commission:
a) State Generators
b) Central Generating Stations
c) Intra-State and Inter-State Trading Licensees
d) Bilateral Purchases
e) Bulk Suppliers
f) Independent Power Producers
g) Non-conventional Energy Generators
Staff Paper based on NDMC’s Petition for true up for FY 2011-12, and ARR for FY 2013-14
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h) Any generation business of the Distribution Licensee
1.13 NDMC, in its Petition, has submitted that the variation between the approved and
the actual power purchase expenses is on account of change in quantum and cost
of power and consequent changes in the transmission charges payable on account
of change in the quantum of power purchase and difference between actual
transmission charges paid by NDMC vis-a-vis the transmission charges approved
by the Commission.
1.14 The following table shows the comparison of actual power purchase quantum and
cost as submitted by NDMC in its Petition and the power purchase quantum and
cost approved by the Commission in the Aug 2011 Order.
Table 4: Power Purchase details for FY 2011-12
S. No
Stations
Aug 2011 Order As per Petition
Quantum (MU)
Cost (Rs. Cr.)
Quantum (MU)
Cost (Rs. Cr.)
1 Dadri TPS 830.50 259.69 736.22
569.22 2 Badarpur TPS 720.03 287.73 658.81
3 Pragati Power I 585.51 173.48 642.90
213.35 4 PPCL-III (Bawana) 74.28 30.23 14.75
5 IPGCL-GTPS 4.38 1.85
5.07 2.42 6 IPGCL - Rajghat 1.98 0.95
7 Short Term Bilateral Purchase - - 26.23 14.34
Gross Power Purchase 2216.68 753.97 2083.98 799.33
8 Short Term Bilateral Sale 724.24 260.72 621.79 144.28
Total Power Purchase 1492.44 493.25 1462.19 655.05
Transmission Charges
9 Inter-State Transmission Charges 18.68 22.95
10 Intra-State Transmission Charges 118.76 91.79
Total Power Purchase Cost including Transmission Charges 1492.44 630.69 1462.19 769.79
Staff Paper based on NDMC’s Petition for true up for FY 2011-12, and ARR for FY 2013-14
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1.15 NDMC has accordingly requested to allow the net power purchase cost after
adjustment of revenue from sale of surplus power as Rs 655.05 crore for FY 2011-
12.
O&M Expenses
1.16 NDMC submitted that Operation and Maintenance (O&M) expenses for the
period from FY 2007-08 to FY 2010-11 have been Trued-up by the Commission in
the respective True-up Orders for the said financial year. NDMC submitted that it
has considered the O&M expenses for FY 2011-12 same as that approved by the
Commission in its Tariff Order.
1.17 The Petitioner further submitted that it has followed the same methodology as
previously approved by the Commission to arrive at the allocation of Total
Administration and Civil Engineering Department expenses (which have been
calculated on actual basis for FY 2011-12) to Electricity Distribution Business.
1.18 The summary of total O&M expenses, after application of the efficiency factor as
approved by the Commission for the Control Period, is provided in the table
below:
Table 5: Approved and Proposed O&M Expenses for FY 2011-12 (Rs. Crore)
Particulars
FY 2011-12
As per Aug 2011
Order As per Petition
O&M Expenses 131.92 131.92
Efficiency factor 4% 4%
Net O&M expenses 126.64 126.64
Administration and Civil
Engineering Department expenses 45.37 119.47
Depreciation
1.19 According to the DERC MYT Regulations, 2007, depreciation charges are not to be
trued up on an annual basis and shall be trued up only once at the end of the
Staff Paper based on NDMC’s Petition for true up for FY 2011-12, and ARR for FY 2013-14
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Control Period. NDMC has submitted that the depreciation expense has been
determined by applying the rate of depreciation of 3.6% approved by the
Commission on the average Gross Fixed Assets (GFA) during the year.
1.20 The Licensee has submitted the following figures of depreciation incurred for FY
2011-12. The table also shows the amount approved by the Commission in its
previous Orders:
Table 6: Depreciation for the Control Period from FY 2007-08 to FY 2011-12 (Rs. Crore)
Particulars
FY
2007-08
FY
2008-09
FY
2009-10
FY
2010-11
FY
2011-12
Total
Approved by the
Commission 13.49 17.43 23.85 30.04 34.63 119.44
Actual Depreciation 13.49 17.43 23.85 30.44 35.60 120.81
Return on Capital Employed (RoCE)
1.21 According to the DERC MYT Regulations, 2007, RoCE is not trued up on an
annual basis and shall be trued up only once at the end of the Control Period.
NDMC has stated that it has computed RoCE as per the methodology approved by
the Commission in its previous Orders, as tabulated hereunder:
Table 7: RoCE (Including Supply Margin) for the Control Period from FY 2007-08 to FY
2011-12 (Rs. Crore)
Particulars
FY
2007-08
FY
2008-09
FY
2009-10
FY
2010-11
FY
2011-12
Total
Approved by the
Commission 17.74 29.79 48.42 66.37 80.41 242.73
Actual RoCE 18.67 30.82 57.38 78.16 97.85 282.88
1.22 Rate of return on the Debt component (i.e., 11.50% p.a.) for FY 2011-12 has been
retained at the same level as approved by the Commission in its previous MYT
Order.
Staff Paper based on NDMC’s Petition for true up for FY 2011-12, and ARR for FY 2013-14
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Non‐Tariff Income
1.23 Apart from the revenue earned in accordance with the tariff schedule from
supplying power to consumers, Distribution Licensees also earn income from
other sources such as interest received on deposits; charging meter rent from
consumers; delayed payment surcharge levied on bills that are paid late; sale of
scrap, etc. This income is called Non-Tariff Income (NTI) and it needs to be
deducted from the Aggregate Revenue Requirement of the Licensee.
1.24 NDMC has submitted the NTI at Rs. 21.35 Crore for FY 2011-12 as against Rs. 10.13
Crore approved in the August 2011 Order and is as shown in the table below.
Table 8: Non Tariff Income for FY 2011-12
Sr. No
Particulars As per August 2011 Order
As per Petition
1 Meter Rent 1.53 0.00
2 MDI 0.94 11.09
3 Misuse 3.51 3.68
4 Burnt Meter 0.04 0.03
5 Surcharge 0.45 0.98
6 New Connection/reconnection fee
0.29 0.27
7 Recovery of storage charges 0.91 -
8 Recovery of deposit work 0.56 4.06
9 Other income from lapsed deposits
1.63 -
10 Other Receipts (petty items commercial)
0.27 1.23
Total 10.13 21.35
Aggregate Revenue Requirement (ARR)
1.25 On the basis of the costs incurred in FY 2011-12 and after deducting the Non Tariff
Income, the Aggregate Revenue Requirement for FY 2011-12 as submitted by
NDMC is given in the table below:
Staff Paper based on NDMC’s Petition for true up for FY 2011-12, and ARR for FY 2013-14
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Table 9: Aggregate Revenue Requirement for FY 2011-12 (Rs. Crore)
Sl.
No Particulars
As per August
2011 Order
As per
Petition
1 Net Power Purchase Cost 493.21 655.05
2 Inter-State transmission Charges 18.68 22.95
3 Intra-State transmission Charges 118.76 91.79
4 O&M expenses 126.64 126.64
5 Depreciation 34.63 35.60
6 RoCE including Supply Margin 80.41 97.85
7 Administrative & Civil Engineering
Department Expenses allocated to electricity 45.37 119.47
8 Less: Non Tariff Income 10.13 21.35
9 Total Costs 907.57 1127.99
10 Employee Cost capitalised 10.01 -
11 Aggregate Revenue Requirement 897.57 1127.99
12 Revenue from sale of power 686.07 642.18
13 Revenue Surplus/(Gap) (211.50) (485.81)
14 Revenue Gap as % of Revenue Realized* 31% 76%
*Computed by the Commission
Revenue Gap
1.26 NDMC submitted that in the Aggregate Revenue Requirement for the first Control
Period, all components except RoCE and Depreciation have been considered same
as that approved by the Commission in the respective True-Up Orders. Based on
the RoCE and Depreciation for the first Control Period as discussed above and the
net gap of FY 2011-12, NDMC has submitted the revenue gap of Rs. 180.60 Crore
for the first Control Period, as given in the below Table:
Staff Paper based on NDMC’s Petition for true up for FY 2011-12, and ARR for FY 2013-14
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Table 10: Revenue Gap for the first Control Period (Rs. Crore)
Particulars
FY
2007-08
FY
2008-09
FY
2009-10
FY
2010-11
FY
2011-12
Opening (Gap)/Surplus 21.89 238.59 552.62 467.89 299.80
Annual Revenue Requirement
for the year 278.57 241.53 650.76 801.54 1127.99
Revenue for the year 483.46 519.67 519.76 598.64 642.18
Surplus/(Gap) for the year 204.89 278.14 (131.00) (202.90) (485.81)
Closing Revenue
Surplus/(Gap) 226.78 516.74 421.62 264.99 (186.01)
Carrying Cost 9.50% 9.50% 9.50% 9.50% 9.50%
Carrying Cost for the year 11.81 35.88 46.28 34.81 5.41
Closing Revenue
Surplus/(Gap) 238.59 552.62 467.89 299.80 (180.60)
ARR of FY 2013-14
Energy Sales and Revenue
1.27 NDMC has projected the energy sales at 1483.67 MU for FY 2013-14 as shown in
the Table below, based on 9 months actual sales for FY 2012-13 and it has
requested the Commission to approve the same.
Table 11: Energy Sales for FY 2013-14 (MU)
Category
FY 2013-14
Sales as per
MYT Order
(MU)
Sales as per
Petition
(MU)
Revenue
projected as
per Petition
(Rs. Crore)
Domestic 256.43 291.72 122.72
Non-Domestic 222.43* 284.25 223.55
Mixed Load 770.79* 849.53 604.61
Small Industrial Power 0.33 0.33 0.19
Public Lighting 15.28 7.98 5.47
Others 12.15 10.05 5.58
Staff Paper based on NDMC’s Petition for true up for FY 2011-12, and ARR for FY 2013-14
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Category
FY 2013-14
Sales as per
MYT Order
(MU)
Sales as per
Petition
(MU)
Revenue
projected as
per Petition
(Rs. Crore)
DMRC 40 40 20.55
Total 1317.43 1483.67 982.66
*Non-Domestic load of more than 100kW is considered under Mixed Load Category
AT&C Loss
1.28 NDMC has projected the distribution losses at the same level as approved by the
Commission in the MYT Order. NDMC has projected the collection efficiency at
99% as projected in its MYT Tariff Petition for the second Control Period. The
AT&C losses projected by NDMC for FY 2013-14 are given in the Table below:
Table 12: Proposed AT&C losses for FY 2013-14
Particulars
FY 2013-14
Approved in
MYT Order
As per
Petition
Distribution Losses 10.10% 10.10%
Collection Efficiency 100.00% 99.00%
AT&C loss level 10.10% 11.00%
Power Purchase Requirement
1.29 The quantum of power purchase is decided by the sales of energy expected by the
Licensee, as well as the loss levels projected/approved. Higher expected sales
require a greater quantum of power to be purchased. Similarly, higher loss levels
also require a proportionately greater amount of power purchase by the Licensee
because it needs to meet the expected sales (in MU) after accounting for various
losses in the process of supplying electricity.
Staff Paper based on NDMC’s Petition for true up for FY 2011-12, and ARR for FY 2013-14
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1.30 The energy sale for that year is grossed up by the loss levels for the year, to arrive
at the required quantum of power purchase for that year in the following manner:
Quantum of Power Purchase (MU)= EnergySales
(1- Distribution Loss(%)/100
1.31 The table below shows the projected sales, distribution loss levels and power
purchase quantum for FY 2013-14 as submitted by the Licensee:
Table 13: Power Purchase Requirement (MU) for FY 2013-14
Particulars
FY 2013-14
Approved in
MYT Order
As per
Petition
Sales 1317.43 1483.67
Distribution Loss 10.10% 10.10%
Power Purchase Requirement 1465.44 1650.36
Power Purchase Cost 1.32 As per the DERC MYT Regulations, 2011, power purchase cost is uncontrollable
and the Licensee is allowed to recover the cost of power procurement from sources
approved by the Commission for supply to its consumers.
1.33 NDMC, in its Petition, has submitted that for projecting power purchase from the
generating stations for FY 2013-14, it has considered the values approved by the
Commission in its MYT Order for the second Control Period dated July 13, 2012.
1.34 NDMC has further submitted that the transmission charges payable to DTL and
PGCIL and other charges payable to SLDC/RLDC have been considered same as
that approved by the Commission in its MYT Order for the second Control Period
dated July 13, 2012.
1.35 Further, NDMC has submitted that it has revised the quantum of surplus power
available based on the revised sales for FY 2013-14 and has also revised the rate for
sale of surplus power to Rs 3/kWh on the basis of prevailing rate for sale of
surplus power.
Staff Paper based on NDMC’s Petition for true up for FY 2011-12, and ARR for FY 2013-14
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Table 14: Power Purchase details for FY 2013-14
S. No
Stations
Approved in MYT Order As Per Petition
Quantum (MU)
Cost (Rs. Cr.)
Quantum (MU)
Cost (Rs. Cr.)
1 Dadri TPS 798.45 322.87 798.45 322.87
2 Badarpur TPS 675.23 329.87 675.23 329.87
3 Pragati Power I 620.41 209.33 620.41 209.33
4 PPCL-III (Bawana) 722.97 325.34 722.97 325.34
5 IPGCL-GTPS 4.99 2.14 4.99 2.14
6 IPGCL - Rajghat 2.11 1.09 2.11 1.09
7 Short Term Bilateral Purchase 0 0 0 0
Gross Power Purchase 2824.17 1190.65 2824.17 1190.65
8 Short Term Bilateral Sale 1271.39 508.56 1086.47 325.94
Net Power Purchase 1552.78 682.09 1737.70 864.71
Transmission Charges
9 Inter-State Transmission Charges 22.55 22.10^
10 Intra-State Transmission Charges 70.23$ 62.66^
11 SLDC Charges 6.16^
Total Power Purchase Cost including Transmission Charges 1552.78 774.87 1737.7 955.63 Notes:$ includes SLDC Charges ^transmission and SLDC charges submitted include rebate on account of timely payment whereas approved values excludes the rebate
1.36 NDMC has accordingly requested to allow the power purchase cost of Rs 955.63
crore for FY 2013-14 including transmission charges.
O&M Expenses
1.37 NDMC has submitted that it has considered the O&M expenses during FY 2013-14
in accordance with the O&M expenses approved by the Commission in the MYT
Order for FY 2012-13 to FY 2014-15.
1.38 NDMC has considered an allocation of 19% of the salary head of its
Administrative department towards its electricity distribution business as per the
methodology approved by the Commission. For the projection of Administrative
Staff Paper based on NDMC’s Petition for true up for FY 2011-12, and ARR for FY 2013-14
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Expenses and Civil Engineering Department Expenses for FY 2013-14, NDMC has
considered annual escalation of 5% over the actual Administrative Expenses for FY
2011-12.
Table 15: Approved and Proposed O&M Expenses for FY 2013-14 (Rs. Crore)
Particulars
FY 2013-14
Approved in MYT
Order As per Petition
Net O&M expenses 151.14 151.14
Administration and Civil
Engineering Department expenses 45.37 131.71
Total 196.51 282.85
Depreciation
1.39 NDMC has submitted that the depreciation expense have been determined by
applying the rate of depreciation of 3.6% approved by the Commission on the
average Gross Fixed Assets (GFA) during the year.
Table 16: Depreciation for FY 2013-14 (Rs. Crore)
Particulars
FY 2013-14
Approved in
MYT Order
As per
Petition
Depreciation 39.70 40.84
Return on Capital Employed (RoCE)
1.40 NDMC has stated that it has computed RoCE for FY 2013-14 as per the DERC MYT
Regulations, 2011. Rate of return on the Debt (i.e., 11.50% p.a.) for FY 2011-12 has
been kept at the same level as that approved by the Commission in its previous
Orders.
Staff Paper based on NDMC’s Petition for true up for FY 2011-12, and ARR for FY 2013-14
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Table 17: RoCE (Including Supply Margin) for FY 2013-14 (Rs. Crore)
Particulars
FY 2013-14
Approved in
MYT Order As per Petition
Regulated Rate Base (RB) Opening 797.41 855.83
∆AB (8.06) (9.20)
Investments in the year 31.64 31.64
Depreciation 39.7 40.84
Consumer Contribution - -
Change in Working Capital 8.30 12.86
RB Closing 795.86 859.48
Regulated Rate Base (RRB) 799.89 864.09
Equity 0% 30%
Debt 100% 70%
Rate of Return on Equity 16% 16%
Rate of Return on Debt 11.50% 11.50%
WACC 11.50% 12.85%
Return on Capital Employed 91.99 111.04
Non- Tariff Income
1.41 NDMC has considered the Non-Tariff Income of Rs. 21.41 Crore for FY 2013-14 in
accordance with the MYT Order for FY 2012-13 to FY 2014-15.
Aggregate Revenue Requirement (ARR)
1.42 NDMC submitted that while computing the ARR for FY 2013-14, it has considered
the same figures for all the above heads, as that approved in MYT Tariff Order
dated July 13, 2012 as shown in the ARR Table below:
Staff Paper based on NDMC’s Petition for true up for FY 2011-12, and ARR for FY 2013-14
Page 16
Table 18: Proposed ARR for FY 2013-14 (Rs. Crore)
Particulars
FY 2013-14
Approved in MYT
Order As per Petition
Power Purchase Cost 658.28 864.71
Inter-State Transmission Charges 22.10 22.10
Intra-State Transmission Charges 62.66 62.66
SLDC Charges 6.16 6.16
Net Operation and Maintenance Expenses 151.14 151.14
Depreciation 39.70 40.84
Administrative & Civil Engineering
Department Expenses allocated to electricity 45.37 131.71
RoCE 91.99 111.04
less: Non Tariff Income 21.41 21.41
Aggregate Revenue Requirement 1055.98 1368.95
Treatment of Revenue Gap and Proposed Tariff Hike
1.43 NDMC has submitted that the Revenue Requirement for FY 2013-14 is Rs. 1368.95
Crore and the revenue at existing tariff would amount to Rs. 982.66 Crore. NDMC
has projected revenue gap of FY 2013-14, as shown in the following table:
Table 19: Tariff Proposal (Rs. Crore)
Particulars FY 2013-14
Revenue Requirement 1368.95
Revenue at existing Tariff 982.66
Net (Gap)/Surplus (386.29)
Net Gap as % of Revenue* 39.31%
*Computed by the Commission
Tariff Revision Proposal
1.44 NDMC has submitted that there is a net gap of Rs 180.60 Crore including the
carrying cost for the first Control Period. NDMC has proposed a 20% hike in tariff
across consumer categories to meet the projected revenue gap.