The Rajasthan Electricity Regulatory Commission (RERC) has approved the true-up for the financial year 2023-24 for the State Load Despatch Centre (SLDC) of Rajasthan. The petition was filed by SLDC under Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPN) seeking approval based on audited accounts. A public hearing was conducted after the petition was published in newspapers and placed on official websites. Stakeholders provided several objections and suggestions, which were examined by the Commission.
The SLDC claimed a total revenue expenditure of ₹33.94 crore for FY 2023-24, while RERC approved ₹28.21 crore. The non-tariff income was considered at ₹0.70 crore. After adjustment, the approved net aggregate revenue requirement came to ₹27.51 crore. The actual revenue, after correcting a refund adjustment, was calculated as ₹28.27 crore, resulting in a revenue surplus of ₹0.76 crore for SLDC. RERC directed that this surplus be refunded to DISCOMs and open-access customers in proportion to their contracted capacities in the next billing cycle.
In terms of capital expenditure, SLDC had claimed an addition of ₹0.97 crore to gross fixed assets (GFA), but the Commission approved only ₹0.70 crore. Items like furniture, batteries, and LED lights amounting to ₹0.27 crore were excluded from GFA and categorized under operation and maintenance (O&M) expenses. The GFA additions were funded entirely through internal sources, with no new loans or equity infusion.
The Commission approved a depreciation of ₹0.44 crore against the claimed ₹1.98 crore, due to incomplete submission of asset-wise life and depreciation details. The interest on the loan was approved at ₹0.01 crore based on normative calculations. The interest on working capital was approved at ₹0.78 crore, reflecting a normative interest rate of 10.38%.
O&M expenses were a key point of discussion. SLDC claimed ₹23.91 crore against the approved normative ₹19.87 crore. However, after reclassifying the disallowed GFA items, actual O&M expenses were adjusted to ₹24.18 crore. Despite this, the Commission adhered to the normative limit of ₹19.87 crore.
Return on Equity (RoE) was claimed at ₹0.15 crore and supported by the Government of Rajasthan’s approval. RERC accepted the claim based on 14% of the equity, which remained unchanged during the year.
SLDC also claimed ₹6.96 crore for RLDC fees and charges, which were approved as per actual payments. Additionally, issues were raised by stakeholders regarding revenue variations, non-compliance with data submissions, and the need for detailed reports. SLDC provided explanations and reconciliations for the same.
The RERC emphasized that SLDC must adhere strictly to regulations, provide timely data, and maintain transparency in operations. It reminded SLDC to submit segregated and certified accounts and follow earlier directions on asset classification. Overall, the Commission acknowledged all objections, and responses, and conducted a detailed review before finalizing the true-up for 2023-24.
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