Licencee:- Grid Corporation of Orissa Limited. |
Annex-3 |
| CALCULATION OF CAPITAL BASE AND REASONABLE RETURN
FOR FINANCIAL YEAR 2001-02 |
[In accordance with para XVII of Schedule VI of Electricity (Supply)
Act, 1948] |
(Rs. in Crores.) |
| A. |
|
GRIDCO Poposal 2001-02 |
2001-02 (Without corrective) |
| (a) |
Original cost of fixed asset Less contribution for deposit works |
1992.63 |
1976.85 |
1976.85 |
| (b) |
Cost of intangible asset |
6.08 |
6.08 |
6.08 |
| (c) |
The original cost of Work in progress |
540.90 |
540.90 |
540.90 |
| (d) |
The amount of investment compulsorily made under para-IV |
18.65 |
18.65 |
18.65 |
| (e) |
An amount on account of working capital equal to the sum of |
|
|
|
(i) |
Average cost of stores (1/12th of the sum of the stores materials and suppliers at the end of
each month of the year) |
16.29 |
4.00 |
4.00 |
(ii) |
Average cash and bank balance (1/12th of the sum of
cash and bank balance whether credit or debit and call and short term deposits at the end
of each month of the year) |
14.80 |
15.87 |
15.87 |
Total of A: |
2589.35 |
2562.34 |
2562.34 |
Less |
|
|
|
|
| B. |
|
|
|
|
| i) |
The amounts written off or set aside on account of depreciation of fixed assets. |
437.91 |
392.59 |
392.59 |
| ii) |
The amount of any loan advanced by Board. |
1390.97 |
3097.27 |
3097.27 |
| ii-a) |
The amount of any loans borrowed from organisations or institutions
approved by the State Govt. |
|
|
|
| ii-b) |
The amount of any debenture issued by the licensee. |
|
|
|
| iii) |
*** |
|
|
|
| iv) |
The amount standing to the credit of Tariffs and Dividends control
reserve at the beginning of the year of account. |
|
|
0.00 |
| v) |
The amount standing to the credit of the Development reserve at the
close of the year. |
|
|
0.00 |
| vi) |
The amount carried forward (at the beginning of the year of
accounting) in the accounts of the Licensee for distribution |
|
|
0.00 |
Total of B: |
1828.89 |
3489.86 |
3489.86 |
| |
Capital Base (A-B) |
760.46 |
-927.51 |
-927.51 |
| |
Reasonable return |
|
|
|
| a) |
RBI rate at the beginning of that year + 5% on investment made upto
31.3.99 + |
111.66 |
0.00 |
0.00 |
| b) |
16% on investment made after 31.3.99 + |
|
|
0.00 |
| c) |
0.5% of loan outstanding as at the end of the year |
6.95 |
15.49 |
15.49 |
TOTAL (a+b+c) |
118.61 |
15.49 |
15.49 |
Calculation of Reasonable Return |
| 1 |
Capital Base allowed by the Commission in its Tariff Order Dated
21.12.98 for the year 98-99 |
333.90 |
333.90 |
333.90 |
| 2 |
Capital Base Calculated for the year 2001-02 |
760.46 |
0.00 |
0.00 |
| 3 |
Additional Capital Base during the period from 31.03.99 to 31.03.02 |
426.56 |
0.00 |
0.00 |
| 4 |
13% Return on Capital Base as on 31.03.99 |
43.41 |
0.00 |
0.00 |
| 5 |
16% Return on additional investment |
68.25 |
0.00 |
0.00 |
| 6 |
0.5% on Loan Outstanding |
6.95 |
15.49 |
15.49 |
| 7 |
Total Reasonable Return |
118.61 |
15.49 |
15.49 |