Section 5(1) in Orissa Electricity Regulatory Commission (Terms and Conditions for Determination of Tariff) Regulation, 2004
(1)(a)The licensee shall make all filings for Annual Revenue Requirement (ARR) as per annual schedule, by November 30th of every year.(b)The licensee in the ARR filing for the ensuing financial year shall indicate the manner in which the gap, if any, between the charges which it is permitted to recover and the expected revenue calculated shall be filled up.(c)A Tariff Order shall continue to be in force for such period as may be indicated in the said order unless amended or revoked earlier.(d)The Commission may broadly classify costs incurred by licensee as controllable and non-controllable. For all controllable costs, the Commission may set the targets for each year under review. These targets shall be used for computing revenue requirement. If required, certain controllable costs can be indexed to appropriate indices/rates like Consumer Price Index (CPI), Wholesale Price Index (WPI), Prime Lending Rate (PLR) etc.(e)All non-controllable costs as checked [and certified by a registered Chartered Accountant] [Inserted vide O.G.E. No. 1267 Dated 22.9.04.] with due diligence and prudence [as accepted by the Commission] [Inserted vide O.G.E. No. 1267 Dated 22.9.04.] shall be treated as pass-through.(f)The Commission may require a long term business plan from each licensee for adopting the multi-year tariff regime, which the licensee shall scrupulously comply.(g)The Accounting Policy and Chart of Accounts shall be followed by the licensee, as determined by the Commission from time to time.
