Section 12 in Tamil Nadu Electricity Regulatory Commission - Appointment of Consultants Regulations, 2004
12. Financial evaluation.
(1)The financial proposals of the pre-qualified Consultants will be opened publicly. The proposed prices shall be read aloud and recorded by minutes of the public opening.(2)The Secretary will cause a review of the financial proposals to be done. Arithmetical errors will be corrected. The cost will be converted to a single currency using uniform selling (exchange) rates.(3)The proposal with lowest cost will be given a financial score of 100 and other proposals given financial scores that are inversely proportional to their prices.e.g. Financial Score of Firm A = 100 W LP/(QP)Awhere LP = Lowest Price andQP = Quoted Price of firm "A"
