cerc (power system development fund) regulations 2010
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CERC (Power System Development Fund) Regulations
2010
Background
Constitution of Fund
Utilization of fund
Managing Committee, PSDF
2Power System Development Fund (PSDF)
Brief Outline
Loose Pool accounts
Unscheduled Interchange Charges account
Congestion Charges account
Power Market Congestion Charge account
Reactive Energy Charges account
Accounts operated by RLDCs/ NLDC
Utilization for Regional benefits
CERC formed Power System Development Fund (PSDF) vide notification dated 4th
June, 2010
Utilization for Power System Development of National/ Regional Importance 3
Background
Power System Development Fund (PSDF)
Constitution of Fund
Other charges as may be notified by
commission
4Power System Development Fund (PSDF)
Account Constituent
ChargesSource
Transfer of Payments to the Fund
Unscheduled Interchange (UI) Charges Account
Unscheduled Interchange (UI) Charges
Amount raised after final settlement of claims of UI charges
Latest by 15th of subsequent month
Congestion charge Account
Congestion Charges
Amount raised after release of charges payable to regional entities entitled to receive congestion
Latest by 15th of subsequent month
Power Market Congestion Charge Account
Congestion amount
Amount rising from the differences in the market prices of different regions as a consequence of Market Splitting in Power Exchanges
Latest by 15th of subsequent month
Reactive Energy Charges account
RLDC Reactive Energy Charges
Amount raised after settlement of Reactive Energy Charges
Latest by 30th day of April of the subsequent Financial Year
5
Utilization of Fund
Schemes as governed by the respective charges regulations
Other Schemes benefiting large number of utilities
Schemes having far reaching effect for Power System
Development
Power System Development Fund (PSDF)
6
Utilization of Fund….
Power System Development Fund (PSDF)
Account Name Governed Regulation Utilization
Unscheduled
Interchange (UI)
Charges Account
Central Electricity
Regulatory Commission
(Unscheduled Interchange
Charges and related
matters) Regulations,
2009
1. Servicing of Investments for the transmission
schemes of strategic importance
a. Cost recovery of scheme from the users after
reaching optimum level of utilization of the scheme
2. Providing Ancillary Services
Congestion charge
Account
Central Electricity
Regulatory Commission
( Power Market)
Regulations, 2010
1. Utilization to relieve congestion
2. System Studies to optimize the utilization of Inter-
Regional and Inter-State Links
3. SPS installation on ISTS and Deemed ISTS
4. Installation of Shunt Capacitors
7
Utilization of Fund….
Account Name Governed Regulation Utilization
Power Market
Congestion
Charge Account
Central Electricity
Regulatory Commission
( Measures to relieve
congestion in real time
operation) Regulations,
2009
1. Installation of VAR compensators, Series
compensators and other reactive energy generators
2. Additional transmission capacity creation for
relieving congestion
3. Technical Studies of Grid for congestion reduction
4. Capacity Building measures and training of
participants of Power Exchanges
5. To develop information dissemination mechanism for
the participants of Power Exchanges
6. Parked with a financial institution for grant of loans at
concessional rates to the congestion relieving projects
Power System Development Fund (PSDF)
8
Utilization of Fund….
Account NameGoverned Regulation
Utilization
Reactive Energy
Charges account
Central Electricity
Regulatory
Commission ( Indian
Electricity Grid Code),
2010 - Annexure-1,
Sec-6.1d
1. Training of SLDC operators
2. Capacity Building in the respective Region as
provided in Grid Code
a. Up to a limit of ` 2 Crore per Year or 30% of
the outstanding balance as at the beginning of FY,
whichever is less – Require approval of RPC only
b. Proposals beyond the limit – Require approval
of Commission through Managing Committee
Power System Development Fund (PSDF)
9
Managing Committee, PSDF
Constituted vide CERC order dated 14.09.2010
Constitution
Power System Development Fund (PSDF)
Position in the Managing Committee Person NominatedChairman CEO, POSOCOMember Convenor GM NLDC
Representative of RPC
MS- NRPCMS-ERPCMS-WRPCMS-SRPCMS-NERPC
Representative of RLDC
GM NRLDCGM ERLDCED WRLDCGM SRLDCAGM NERLDC
Independent External Member (Finance) Ex. ED (Finance), NLCIndependent External Director (Power Sector Expert) Addl. Director, CPRI
Secretary DGM NLDCTreasurer DGM F&A, POSOCO
10
Meetings of Managing Committee, PSDF
At least four meetings in a year shall be convened
Interval between any two meetings shall not, preferably, exceed six months
Secretary of the Fund may at any time convene a meeting of the Managing
Committee by notice in writing of fourteen (14) days
A special meeting of the Managing Committee may be convened at any time
by the Chairperson of the Managing Committee in case of urgency
Managing Committee may constitute Committees or sub- Committee(s) out of
its own members to look after day-to-day operations or for any other specific
purposePower System Development Fund (PSDF)
11
Functions of Managing Committee, PSDF
Opening accounts titled “Power System Development Fund” or by such other name with any of the Scheduled Banks/Nationalised Banks Main account at New Delhi Subsidiary accounts at such other branches of the said bank
Maintaining proper accounts and manage the Fund as an independent fund
Scrutinization of project proposals having regard to the objects of the Fund, the importance of the projects and quantum of fund required for such projects
Investing the money lying in the Fund in securities authorized under the Indian Trusts Act, 1882
Framing guidelines from time to time with the approval of the Commission for the investment of balance funds
Power System Development Fund (PSDF)
12
Functions of Managing Committee, PSDF…
Submitting its recommendations in writing to the Commission for
approval for disbursement from the Fund, after scrutinizing the
proposals
An independent system for concurrent monitoring and evaluation of the
projects, schemes and activities shall be evolved to ensure effective
and proper utilization of the Fund
Power to withhold or suspend the release of balance sanctioned fund or
part thereof, in case of fraudulent utilization
Power System Development Fund (PSDF)
13
Operation of the Fund
Any two persons designated as authorized signatories by the Managing
Committee from time to time shall operate bank accounts
Authorized signatories shall not make any withdrawal from the accounts
of the Fund except through proper authorization and/or after sanction
from the Managing Committee
Power System Development Fund (PSDF)
14
Property and Income of the Fund, Audit of Accounts
Property and Income of the Fund
All properties of the Fund, whether movable or immovable, shall vest in the
name of the Fund
No part of the Fund shall be used directly or indirectly by way of dividend, bonus
etc.
Audit of Accounts
registered chartered accountant firm/ Chartered Accountant shall be appointed
to audit the accounts of the Fund annually
Shall prepare an annual statement of accounts in such form as may be decided
by the Managing Committee in consultation with the auditor appointedPower System Development Fund (PSDF)
15
Annual Reports, Dissolution of Fund
Shall prepare the annual report of the Fund including the work undertaken during the year, together with balance sheet and audited account
Submission of Report to the Commission shall prepare summarized quarterly reports of funds utilization which
will be displayed on the website of the Commission Commission may direct by notification on Official Gazette to dissolve
the Fund from such date and for such period all funds and other properties vested in the Fund shall during the period
of dissolution, vest with such entity to be nominated by the Commission in this behalf
Fund shall be reconstituted after expiry of dissolution period
Power System Development Fund (PSDF)
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