Punjab State Power Corporation Limited vs Punjab State Electricity Regulatory ... on 18 October, 2012
21. It is not in dispute that the tariff is always determined based
on the capital cost, fixed cost and variable cost subject to prudent
check by appropriate commission. This is very clear from
Regulation 12 of the CERC Renewable Energy Regulations of 2012.
This methodology has been adopted and applied by the State
Commission in the impugned order. The Respondents placed
reliance on Punjab Biomass case, wherein this Tribunal observed
that the capital cost (fixed tariff) of the Biomass based Power Plant
has to be determined based on plant to plant with reference to tariff
applicable at the time of commissioning of the project as agreed
under Implementation Agreement and not as per the tariff
applicable during the actual date of commissioning of the plant.
The summary of findings are as under: