Section 47 in The Punjab State Electricity Regulatory Commission (Conduct of Business) Regulations, 2005
47.
(1)Unless otherwise specified by the Commission, every licensee shall obtain prior approval of the Commission for making investment in the licensed business if such investment is above the limits laid down by the Commission in the Licence Conditions.(2)The limits in the Licence Conditions may be modified by the Commission from time to time by a general or special order.(3)In the application for investment approval, the licensee shall furnish the following information or particulars :(a)A detailed project report containing examination of the salient features and particulars, demonstrating the need for the investment together with the techno economic and environmental aspects of the investment together with the outline of the work to be undertaken;(b)The project cost together with the cost benefit analysis;(c)Whether the investment is in a new project or for expansion or up-gradation of an existing system;(d)Sanctions and statutory clearances required for execution of the project and status of such sanctions and statutory clearances;(e)Phasing of investment over the financial years and the commissioning schedule;(f)The manner in which investments will be capitalised for the purposes of inclusion in the revenue requirements of the Licensee;(g)Constraints which the Licensee may face in making the investments or in implementing the project including constraints on information available;(h)Resource mobilisation and financial plans for meeting the investment; and(i)Such other particulars as the Commission may from time to time direct.(4)(a)The Commission may at its discretion hold such inquiries and consultations as the Commission may consider appropriate while dealing with the application for approval for the investment to be made by the Licensee.(b)The Commission may, at its discretion, initiate a proceeding or consider the application for investment approval as a part of the proceedings for determination of tariff or along with any other proceeding as the Commission may consider appropriate.(5)(a)The Commission shall be entitled to appoint consultants, experts and others as the Commission may consider appropriate and authorise the Commission's staff, consultants and experts to hold discussions and deliberations with the Licensee before the Commission considers the application of the Licensee for investment approval.(b)The Licensee seeking investment approval shall furnish information, particulars, documents as may be required by the Commission staff, consultants and experts appointed by the Commission for the purpose and allow them access to the records and documents in power, possession or custody of the Licensee.(c)The Licensee shall co-operate with the Commission's staff, consultants and experts to enable them to discharge their functions and to submit a report to the Commission on the outcome of their findings.(6)The Commission shall take into consideration while determining the tariffs of the Licensees as per these regulations and as per the Tariff Regulations to be framed by the Commission under Section 61 of the Act, the approval granted by the Commission to the Licensees for the investments under this Regulation and the actions and inactions on the part of the Licensees in complying with the terms contained in this Regulation.
