BHUBANESWAR: Proposal of Grid Corporation of Odisha Limited (Gridco) for a 22 per cent hike in bulk supply price of power for 2023-24 was strongly opposed by consumer groups and individual objectors during a public hearing on its aggregated revenue requirement (ARR) and tariff applications here on Wednesday.
In its ARR and BSP applications, Gridco has estimated to sell a total of 36,428 million units (MU) of energy to power distribution companies (36,358 MU) and 70 MU emergency power to captive generating plants. Considering transmission loss of three per cent, the state power trading utility has projected procurement of 37,554 MU for state consumption during 2023-24.
With availability of 38,453 MU of energy from different sources, Gridco proposed to procure the same at an average rate of 327.51 paise per unit. I tstated that trading of surplus power of about 899 MU after meeting the state requirement will generate revenue of Rs 357.08 crore by reducing the power purchase cost to that extent.
Projecting its net revenue requirement at Rs 13,839.39 crore for the coming fiscal consisting of Rs 12,236.74 crore towards power purchase cost, Rs 543.46 crore towards interest and financial cost, Rs 1,072.41 crore towards pass through of past power purchase cost and Rs 38.71 crore towards establishment and other cost, Gridco requested the commission to approved the average BSP at 380.64 paise per unit as against the existing rate of 312.34 paise per unit.
In his submission, power analyst Ananda Mohapatra said the revenue surplus of the four Discoms may be utilised to reduce the retail tariff for ensuing financial year. Considering the revenue surplus on account of excess tariff recovery by the discoms at Rs 2,600 crore, the tariff should be reduced by at least Rs 1.20 per unit, he said.