The Punjab State Electricity Regulatory Commission (PSERC) on June 05, 2023, published the Punjab State Electricity Regulatory Commission (Conduct of Business) (6th Amendment) Regulations, 2023
These Regulations shall come into force from June 05, 2023.
The following has been amended namely: -
• Regulation 55 of the Principal Regulations states “Revision of Tariff shall be substituted as follows namely: -
“No tariff determined by the Commission may be amended more frequently than once in any financial year except that tariff rates shall be adjusted in accordance with Fuel and Power Purchase Adjustment Surcharge” (FPPAS)formula as specified in Appendix – 7 of the PSERC (Conduct of Business) Regulations, 2005 as amended from time to time.”
• Appendix 7 of the Principal Regulations states “Fuel Cost Adjustment (FCA) Formula Appendix 7 of the Principal Regulations shall be substituted as follows namely: -
“APPENDIX-7 - FUEL AND POWER PURCHASE ADJUSTMENT SURCHARGE (FPPAS)”
1. For these Regulations “Fuel and Power Purchase Adjustment Surcharge” (FPPAS) means the increase in the cost of power, supplied to consumers, due to changes in Fuel cost, power purchase cost, and transmission charges with reference to the cost of supply approved by the Commission.
2. The Fuel and power purchase adjustment surcharge shall be calculated and billed to consumers, automatically, by the Licensee, on a monthly basis, according to the formula prescribed by the Commission, subject to true up, on an annual basis, Provided that the automatic pass-through shall be adjusted for monthly billing in accordance with these Regulations.
3. Fuel and Power Purchase Adjustment Surcharge shall be computed and charged by the distribution licensee, in (n+2)th month, on the basis of actual variation, in cost of fuel and power purchase and Interstate Transmission Charges for the power procured during the nth month. For example, the fuel and power purchase adjustment surcharge on account of changes in tariff for power supplied during the month of April of any financial year shall be computed and billed in the month of June of the same financial year: Provided that in case the distribution licensee fails to compute and charge fuel and power purchase adjustment surcharge within this timeline, except in case of any force majeure condition, its right for recovery of costs on account of fuel and power purchase adjustment surcharge shall be forfeited and, in such cases, the right to recover the fuel and power purchase adjustment surcharge determined during true-up shall also be forfeited.
[Notification No. PSERC/Secy/Regu.175]
