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Sikkim Renewable Energy Tariff Regulations

HIGHLIGHTS

Technology wise Net Tariff	--
Tariff Period	Technology	Year
	Wind	13
	Small hydro below 5 MW	35
	Small hydro (5 MW to 25 MW)	13
	Solar PV projects, solar thermal projects	25
	Biomass, biomass gasifier, biogas	20
	Non-fossil fuel based cogeneration	13

Control Period	3 financial years, final year of which will be FY 2014-15. If regulations for next control period is not notified until the commencement of the next control period, these regulations prevail.
Useful Life of a Plant	Technology	Year
	Wind, solar PV, solar thermal	25
	Small hydro	35
	Biomass with Rankine cycle technology, biomass gasifier, biogas, non-fossil fuel based cogeneration	20

Capital Cost	Technology	Capital Cost (in Rs. lakh/MW)
	Wind	575.00
	SHP below 5 MW	770.00
	SHP between 5 MW and 25 MW	700.00
	Solar PV	1000.00
	Solar thermal	1300.00
	Biomass with Rankine Cycle Technology	445.00
	Biomass Gasifier	550.00
	Biogas	1100.00
	Non fossil fuel based cogeneration	420.00
	All capital costs are for FY 2012-13, and subject to indexation formula as given in regulation.
Operation and Maintenance (O&M) Expenses	Technology	O&M Expenses (in Rs. lakh/MW)
	Wind	9.00
	SHP below 5 MW	25.00
	SHP between 5 MW and 25 MW	18.00
	Solar PV	11.00
	Solar thermal	15.00
	Biomass with Rankine Cycle Technology	24.00
	Biomass Gasifier	40.00
	Biogas	40.00
	Non fossil fuel based cogeneration	16.00
	O&M Expenses are for FY 2012-13 O&M Expenses shall be escalated at the rate of 5.72% per annum
Interest Rate on Loans	State bank advance rate prevalent during the previous year plus 150 basis points
Depreciation	5.83% for first 12 years and remaining depreciation spread over remaining useful life of the project from 13^th year onwards
Return on Equity	Pre-tax 20% per annum for the first 10 years. Pre-tax 24% per annum 11th year onwards.
Interest on Working Capital	Average State bank of India base rate prevalent during first six months of previous year plus 350 basis points.

OTHER PROVISIONS

Tariff Structure and Design	Generic, single part, levellised tariff
Merit Order Dispatch Principle	All renewable energy plants except biomass plants with capacity of 10 MW and above shall not be subject to merit order dispatch principle. Biomass power plants with capacity of 10 MW and above shall be subject to scheduling and dispatch as specified in the state grid code regulations. Wind power plants with sum of generation capacity of 10 MW and above and connected at 33 KV and above shall be subject to scheduling and dispatch. Solar power plants with capacity of 5 MW and above and connected at 33 KV and above shall be subject to scheduling and dispatch.
Subsidy or/and Incentives by Government	The commission shall take into account any subsidy or incentive offered by the central or state government including accelerated depreciation if availed in time of determination of tariff. In case generation based incentive is notified for a particular project the same shall be deducted from tariff of such generating stations.
Rebate	2% for payment through letter of credit 1% for payments not through letter of credit within a period of one month from presentation of bills.
Late Payment Surcharge	1.25% per month for payments beyond a period of 60 days from the date of billing
Links	http://www.sserc.in/final_regulations
References	http://www.sserc.in/draft-regulations/sikkim-state-electricity-regulatory-commission-terms-and-conditions-determinatio-1

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