The National Electric Power Regulatory Authority (Nepra) has approved revision in transmission tariff for ± 660kV 4000 MW HVDC Matiari-Lahore Transmission Line Project for 25 years. According to the revised determination, O&M tariff for foreign component will be Rs 0.0441 per unit for 25 years whereas on local component O&M cost is allowed by Rs 0.0323 per unit. The revised NTDCL- O&M local will be Rs 0.0411 per unit, land lease Rs 0.0073 per unit, insurance Rs 0.0410, debt servicing Rs 0.5239 per unit, return on equity Rs 0.
1684 for 1-10 years and Rs 0.1860 per unit for 11-25 years, return on equity during construction Rs 0.0388 per unit. Sinosure fee will be as per actual up to 0.60 per cent of the outstanding debt at the start of the year plus expected interest payment during the year.
The reference Transmission Service Charge (TSC) is based on 98.5 percent availability with 1.5 percent annual non-penalized maintenance outages. The reference PKR/dollar rate has been assumed at Rs 104.40. The tariff is applicable to the Pak Matiari Transmission Company (PMTC) as per LoS by PPIB and as per the acceptance by the project company for a period of 25 years commencing from the date of the COD. Sinosure fee on outstanding balance of debt and interest at gross rate of 0.60 percent has been allowed for each applicable year as indicated in the reference tariff. The tariff is calculated on the basis of Build Own Operate and Transfer (BOOT) basis. The project will be transferred to NTDCL upon the expiry of the term of the Transmission Service Agreement (TSA) signed between NTDCL and Project Company. All invoicing and payment terms are assumed to be in accordance with the TSA which will be signed between NTDCL and PMTC not inconsistent with the instant determination. Redemption of equity has been allowed after 10 years. The impact of actual losses up to 4.3 percent shall be allowed on the basis of units transmitted. The project company should maximize engaging of local resources for the project.
According to the determination, duties and/or taxes, not being of refundable nature, directly imposed on PMTC up to the commencement of its commercial operations for the import of its machinery and equipment for the construction of converter station and transmission line will be subject to adjustment at actual on COD, upon production of verifiable documentary evidence to the satisfaction of the Authority. Actual amount withheld from contractors as per applicable laws and regulations will be allowed as part of the project cost at the time of COD on the basis of verifiable documentary evidence. Security cost of $ 9,895,358 (Fixed), cost for deployment of security forces including Rangers will be allowed as per actual, subject to submission of documentary evidences to the satisfaction of the Authority at the time of COD, in addition to already allowed amount for this project will be allowed as per actual, subject to the submission of the documentary evidence to the satisfaction of the Authority at the time of COD justifying the need as confirmed by the relevant authority/agencies.
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