PSERC fixes capital expenditure plan of Rs 1,450 cr for FY14
Chandigarh, Apr 16 (PTI) Punjab State Electricity Regulatory Commission (PSERC) has fixed the investment plan size of the state power utility at Rs 1,450 crore for 2013-14.
This is 35 per cent lower from the proposed plan submitted by the Punjab State Power Corporation Ltd (PSPCL).
"The Commission, keeping in view the level of actual expenditure incurred by PSPCL in previous years and also taking into account the importance of proposed capital schemes, considers it appropriate to allow capital expenditure of Rs 1,450 crore for 2013-14," PSERC said in its tariff order.
The investment size of the power utility was cut by the Commission with the main intention of not burdening the consumers with increase in tariff on account of high expenditure, it added.
Observing that PSPCL had proposed a highly ambitious capital investment plan for 2013-14, PSERC said, "it (proposed investment) will impose an avoidable burden on consumers by way of increase in tariff on account of higher expenditure."
For 2013-14, PSPCL had proposed investment plan size of Rs 2,200 crore involving expenditure of Rs 700 crore on generation, Rs 300 crore on transmission and Rs 1,150 crore on distribution.
PSPCL had also proposed to spend on network capacity expansion, improvement projects for network up to 66 kv and construction of new substations.
PSERC had approved capital expenditure plan of Rs 1,300 crore for last fiscal.
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