Summary:

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### **1. PETITION OVERVIEW**

* **Petitioner:** Himachal Pradesh Power Transmission Corporation Limited (HPPTCL)
* **Respondents:** Himachal Pradesh State Electricity Board Limited (HPSEBL) and Others
* **Subject:** A petition filed under the **Electricity Act, 2003** and relevant CERC regulations for:
1. **Truing up** of the transmission tariff for the **2019-24** period (adjusting past tariffs based on actual costs).
2. **Determination** of the transmission tariff for the **2024-29** period (setting future tariffs).
* **Assets Involved:** The petition pertains to **three (3) Inter-State Transmission System (ISTS) assets** owned by HPPTCL.

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### **2. PROCEEDINGS & COMMISSION’S DIRECTIONS**

During the hearing, the Petitioner’s counsel confirmed the petition’s purpose. The Commission then issued the following procedural and substantive directions:

**A. Procedural Timeline:**
1. **Notice** to be issued to all Respondents.
2. **Respondents** must file their **replies (on affidavit) within two weeks**, with an advance copy to HPPTCL.
3. **HPPTCL** may then file its **rejoinder within one week**.

**B. Specific Information Sought from HPPTCL (on affidavit within two weeks):**
The Commission directed HPPTCL to provide the following critical documents and justifications:
1. **Justification for Weighted Average Rate of Interest (WAROI):** HPPTCL must explain its use of a **10% WAROI** in its calculations.
2. **Tax Documentation:** Submission of **Assessment Orders or Income Tax Returns** for Minimum Alternate Tax (MAT) for Financial Years **2022-23 and 2023-24**.
3. **Detailed Note on Disputed Financial Components:** A comprehensive explanation claiming:
* **Interest on Loan (IoL)** for Asset-1.
* **Return on Equity (RoE)** for all assets in this petition.
* **Critical Context:** The Commission had previously **disallowed** these very components (IoL & RoE) in its past orders dated **16.5.2016 (Petition 119/TT/2014)** and **27.9.2021 (Petition 305/TT/2020)**. HPPTCL must now justify why these claims should be reconsidered.
4. **Auditor’s Certificates:** Submission of auditor-certified statements for the assets covering both the **2019-24 and 2024-29 tariff periods**.

**C. Next Hearing Date:** The petition is scheduled for the next hearing on **19 February 2026**.

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### **3. KEY BUSINESS & REGULATORY IMPLICATIONS**

* **Regulatory Scrutiny:** CERC is subjecting HPPTCL’s tariff claims to **rigorous scrutiny**, especially on financial parameters that have been contentious in the past.
* **Critical Financial Disputes:** The core of the inquiry revolves around **Interest on Loan (IoL)** and **Return on Equity (RoE)**, which are major components of the tariff. HPPTCL’s ability to successfully justify these claims, contrary to past rejections, will significantly impact the final approved tariff and its revenue.
* **Data-Driven Justification:** The Commission demands **concrete evidence and detailed justifications** (WAROI rationale, tax proofs, auditor certifications) rather than mere claims, emphasizing **prudence and transparency**.
* **Historical Precedent:** HPPTCL faces an uphill task as it must argue against the **Commission’s own past decisions** that disallowed similar claims. This indicates a potentially significant regulatory hurdle.
* **Impact on Tariff:** The outcome of this petition will determine the **transmission charges** that HPPTCL can levy on users (like HPSEBL) for using its three ISTS assets for the next five years (2024-29) and will settle accounts for the previous five years (2019-24).

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For more information please see below link:

Summary:

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### **1. PROCEEDINGS & COMMISSION’S DIRECTIONS**

After hearing PGCIL’s representatives, the Commission issued the following procedural directions:

**A. Timeline for Submissions:**
1. **Respondents** (State Utilities) to file their **replies within two weeks**, with an advance copy to PGCIL.
2. **PGCIL** may file its **rejoinder within two weeks** thereafter.

**B. Specific Information Sought from PGCIL (on Affidavit within two weeks):**
The Commission directed PGCIL to provide detailed, asset-specific information for most petitions. The **common themes** across the data requests are:

1. **Detailed Cost Breakdowns:**
* **Item-wise unit cost** for claimed Additional Capital Expenditure (ACE) related to asset replacement.
* **Element-wise/Party-wise break-up** of capital costs (as on 31.3.2019) and claimed ACE.

2. **Historical Comparison & Justification:**
* **Comparison tables** showing ACE **allowed in previous tariff orders vs. claimed now** for 2019-24, with justifications for any variations.
* **Reconciliation of cost overruns** (e.g., Petition 525/TT/2025 notes a variation of ₹1117.53 lakh).

3. **Regulatory Form Compliance:**
* Submission of specific **Forms (e.g., Form-5, 7B, 9C, 9E, 13)** related to plant & machinery cost, depreciation, and tariff calculations for both 2019-24 and 2024-29 periods.

4. **Technical & Economic Justification for Future Capex (2024-29):**
* **Basis, technical justification, and cost-benefit analysis** for ACE/De-capitalization claimed under **Regulation 25(2) of the 2024 Tariff Regulations**.

5. **Supporting Documentation:**
* **Certificates of obsolescence** from OEMs or competent authorities for replaced equipment.
* **Minutes of relevant committee meetings** approving projects (e.g., NERPC/TCC for Kumarghat substation in Petition 539/TT/2025).
* **Liquidated damages recovery statements** and **initial spares discharge statements**.

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### **2. KEY BUSINESS & REGULATORY IMPLICATIONS**

* **Regulatory Scrutiny:** The Commission is conducting a **detailed, granular review** of PGCIL’s capital expenditures, both past (truing up) and future (tariff determination). The focus is on **prudence, justification, and cost-effectiveness**.
* **Focus on ACE:** A significant portion of the inquiry revolves around **Additional Capital Expenditure (ACE)**, indicating scrutiny of project cost overruns, replacements, and upgrades.
* **Transparency & Accountability:** The directives emphasize **transparency** through standardized formats (tables, forms), comparisons with past approvals, and demand for third-party certificates (OEM).
* **Procedure:** The process follows a standard regulatory timeline: **Petition → Hearing → Directions for Information → Respondent’s Reply → Rejoinder → Final Order**.
* **Subject Matter:** The petitions cover a wide range of transmission assets—from system strengthening schemes to project-specific systems—highlighting PGCIL’s ongoing role in national grid development and the subsequent periodic tariff resets.
* **Next Steps:** The matters are **reserved for order** after compliance with the above directions. The final tariff orders will determine the revenue PGCIL can recover from beneficiary states for using these transmission assets for the next five years.

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For more information please see below link:

Summary:

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### **1. Overview and Context:**
– **Date of Hearing:** 13th January 2026.
– **Common Petitioner:** Power Grid Corporation of India Limited (PGCIL).
– **Subject:** Multiple petitions (listed below) for **truing up of tariffs for the 2019-24 period** and **determination of tariffs for the 2024-29 period** for various transmission assets across India.
– **Regulatory Framework:** Petitions filed under the relevant tariff regulations (e.g., CERC Tariff Regulations, 2019).

### **2. List of Petitions & Key Respondents:**
The petitions involve transmission schemes across different regions. Key respondents are primarily the state power distribution companies (DISCOMs) of the respective beneficiary states.

| Petition No. | Scheme/Project Name | Region | Key Respondent(s) |
| :— | :— | :— | :— |
| **924/TT/2025** | Integration of Pooling Stations in Chhattisgarh… | Western | MPPMCL & 5 Others |
| **926/TT/2025** | System Strengthening XXVI | Southern | TANGEDCO/TNPDCL & 13 Others |
| **921/TT/2025** | System Strengthening Scheme-XIII | Southern | TANGEDCO/TNPDCL & 13 Others |
| **920/TT/2025** | Transmission System for Pavagada Solar Park Phase-I | Southern | TANGEDCO/TNPDCL & 13 Others |
| **962/TT/2025** | Substation works beyond Vemagiri | Southern | TANGEDCO/TNPDCL & 14 Others |
| **964/TT/2025** | WR-NR Corridor for Chhattisgarh IPPs | Northern | UPPCL & 21 Others |
| **413/TT/2025** | North Eastern Region Strengthening Scheme-IV | North Eastern | APDCL & 6 Others |
| **435/TT/2025** | Inter-Regional Strengthening (WR & NR Part-A) | Inter-Regional | MPPMCL & 5 Others |
| **411/TT/2025** | Raipur-Rajnandgaon TL for Chhattisgarh IPPs | Western | MPPMCL & 8 Others |
| **518/TT/2025** | Transmission for Phase-I Gen Projects in Odisha | Western | MPPMCL & 5 Others |
| **420/TT/2025** | Western Region System Strengthening Scheme-V | Western | MPPMCL & 5 Others |
| **731/TT/2025** | *(Details not fully specified in snippet)* | *Not Specified* | *Not Specified* |

### **3. Proceedings and Core Issue:**
– PGCIL, as the Central Transmission Utility (CTU), is seeking **regulatory approval for the final tariffs** for its transmission assets.
– The process involves two key steps for each asset:
1. **Truing Up (2019-24):** Final reconciliation of actual capital expenditure (CAPEX) and operational costs against earlier estimates to determine the final payable tariff for the past period.
2. **Tariff Determination (2024-29):** Setting the approved tariff for the next regulatory period based on the trued-up capital cost and normative operational parameters.

### **4. Business & Regulatory Implications:**

– **For PGCIL:** This is a critical, routine regulatory process to **secure revenue recovery** for its vast transmission investments. Timely and accurate submission of the voluminous data is essential to avoid delays in tariff approval and cash flow.
– **For Respondent DISCOMs:** They have the opportunity to **review and challenge** PGCIL’s cost claims. Their scrutiny is vital to ensure that only prudent and efficient costs are passed through to the end consumers via tariffs.
– **For End Consumers:** The outcome of these petitions will ultimately influence the **transmission component of electricity bills** for consumers in the beneficiary states.
– **For the Power Sector:** The process underscores the **regulated, cost-plus nature of transmission tariffs** in India. It ensures transparency and allows recovery of investments for critical national grid infrastructure.

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For more information please see below link:

Summary:

—

**1. Overview of Petitions**
All three petitions filed by **Power Grid Corporation of India Limited (PGCIL)** seek:
– **Truing up** of transmission tariff for the period **2019–24**.
– **Determination** of transmission tariff for the period **2024–29**.

**2. Petition-wise Summary**

| Petition No. | Scheme / Asset Description | Region | Key Respondents |
|————–|—————————-|——–|——————|
| 1021/TT/2025 | Transmission System for **Vindhyachal-IV & Rihand-III (1000 MW) Generation Project** | Western Region | MPPMCL & 20 others |
| 925/TT/2025 | Transmission System for **Ultra Mega Solar Park in Anantapur, AP – Part A (Phase-I)** | Southern Region | TANGEDCO (TNPDCL) & 14 others |
| 731/TT/2025 | **400 kV S/C Singrauli–Vindhyachal TL** with **(2×250 MW) HVDC Back-to-Back at Vindhyachal (NR-WR)** | Inter-regional | UPPCL & 20 others |

**3. Key Proceedings & Directions from CERC**

– **No replies received** from respondents in any of the three petitions.
– **Fresh notices** to be issued to all respondents.
– **Respondents** given **2 weeks** to file replies; **PGCIL** may file rejoinder within **1 week** thereafter.
– **Next hearing date:** 17 February 2026 at 2:30 PM.

**4. Specific Information/Documents Directed by CERC**

**A. For Petition No. 1021/TT/2025:**
1. **Element-wise capital cost breakdown** (Land, Buildings, Transmission Line, Substation, PLCC, IT, etc.) as of 31.03.2019.
2. **Form 9C** in Excel for both tariff periods.
3. **Liability Flow Statement** in Excel.
4. **Asset-wise LD (Liquidated Damages) recovery details**.
5. **Form 7B** for both periods.
6. **Cumulative depreciation details** for IT & PLCC as of 31.03.2019.

**B. For Petition No. 925/TT/2025:**
1. **Justification for variation** in opening capital cost vs. previous order.
2. **Initial Spares discharge statement**.
3. **Form 5 & Form 13**.
4. **Liability Flow Statements** in Excel.
5. **Form 9C** with proper linkages.
6. **Interest rate calculations** for each loan.
7. **Reconciliation of CFA (Central Financial Assistance) grant** – received, deployed, balance.
8. **Documentary proof of CFA grant utilization**.
9. **Evidence of asset decommissioning**.
10. **Justification for ACE (Additional Capital Expenditure) beyond cut-off date**.
11. **Form 7B** for both periods.

**C. For Petition No. 731/TT/2025:**
1. **Basis, technical justification & cost-benefit analysis** for ACE claimed.
2. **Liability Flow Statements for ACE**.
3. **Justification for variation in ACE vs. previous order**.
4. **Details of spillover works** from 2019–24 to 2024–29 with delay justification.
5. **Form 7B** for both periods.
6. **Clarification on IDC (Interest During Construction)** adjustments previously disallowed.

**5. Key Business & Regulatory Implications**
– **Transparency & Scrutiny:** CERC ensuring rigorous validation of capital costs, grants, and expenditures.
– **Stakeholder Engagement:** Despite no replies, fresh notices indicate emphasis on participatory regulation.
– **Renewable Integration:** Petition 925/TT/2025 relates to solar park evacuation – critical for green energy.
– **Inter-regional Assets:** Petition 731/TT/2025 involves HVDC link between NR & WR – strategic for grid stability.
– **Financial Discipline:** Detailed requirements on LD, ACE, IDC, and grants ensure accountable use of capital.

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For more information please see below link:

v

Sumamry:

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**1. Regulatory Authority**
Central Electricity Regulatory Commission (CERC), New Delhi.

**2. Overview of Petitions**
A **combined proceeding** covering **11 separate tariff petitions** filed by **Power Grid Corporation of India Limited (PGCIL)** for truing up of transmission tariffs for the period **2019–24** and determination of tariffs for **2024–29**.

**3. Common Objective Across All Petitions**
– **Truing Up:** Adjust past tariffs (2019–24) based on actual capital expenditure, operational expenses, and other cost variations.
– **Tariff Determination:** Set new transmission tariffs for the next control period (2024–29) for specified transmission assets/schemes.

**5. Commission’s Directions & Information Requirements**
CERC directed PGCIL to submit detailed financial and technical data in prescribed formats for each petition, including:

– **Form 9C:** Capital cost, financing, and tariff calculation sheets with Excel linkages.
– **Form 7B:** Asset-wise tariff computation.
– **Form 5 & 13:** Asset details, capital expenditure, and initial spares.
– **Liability Flow Statements:** Debt and interest details.
– **IDC (Interest During Construction) Discharge Statements.**
– **Auditor Certificates:** For plant & machinery cost, initial spares.
– **Accumulated Depreciation Details:** For PLCC, IT equipment, etc.
– **ACE (Additional Capital Expenditure) Reconciliation:** Item-wise and party-wise comparison with previous orders.

**6. Key Regulatory & Business Implications**
– **Tariff Stability:** The process ensures predictable and cost-reflective transmission pricing for the next 5 years.
– **Cost Recovery:** PGCIL seeks to recover past under/over-recoveries and secure revenue for future operations.
– **Transparency:** Extensive data submission ensures regulatory scrutiny and stakeholder confidence.
– **Multi-Regional Impact:** Tariffs affect multiple state DISCOMs and power utilities across India.
– **Renewable Integration:** Some schemes (e.g., Pavagada Solar Park) support renewable energy evacuation.

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For more information please see below link:

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Summary:

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### **1. PARTIES PRESENT**
– **Representative of DTL (Petitioner):** Mr. Deepak Soni, DGM (C&RA) Division.

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### **2. KEY SUBMISSIONS BY DTL**
1. **Accounts for FY 2022-23** will be filed with the Commission **within 7 days**.
2. Due to **administrative reasons**, the accounts will be submitted **provisionally**—without an audited report.
3. The accounts will be **signed and authenticated by the General Manager (Finance) of DTL**, under the authority of the Managing Director.
4. **Ratification/authorization** by the Board of Directors of the Managing Director’s approval will be placed on record **in due course**.

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### **3. COMMISSION’S DIRECTIONS & OBSERVATIONS**
1. The **True-up Petition** will be considered based on the **approval/authentication by the General Manager (Finance)** of DTL.
2. However, the **True-up Order will remain provisional** until audited accounts are submitted.
3. Once DTL submits the **audited accounts**, the True-up will be **revisited for finalization**.
4. DTL officers will provide **additional details and clarifications** as required by the Commission.
5. **Order is reserved** (to be issued later).

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### **4. NEXT STEPS & IMPLICATIONS**
– DTL must submit provisional FY 2022-23 accounts within **7 days**.
– The True-up process will proceed on a **provisional basis** pending final audited accounts.
– DTL must later submit **audited accounts** and **Board ratification** for final True-up determination.
– The Commission retains the right to seek further clarifications.

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For more information please see below link:

Foreign entity of concern (FEOC) restrictions and the scheduled Section 301 tariff increase to 25% on Chinese-origin battery energy storage systems (BESS) went into effect on 1 January 2026.