Attock Gen seeks withdrawal of abnormal profit proceedings in NEPRA

ISLAMABAD: The Central Power Purchasing Agency-Guaranteed (CPPA-G) and 156 MW Attock Gen Limited have filed a joint application for revision in existing tariff of the project as per terms and conditions agreed with the Task Force on Power subject to withdrawal of proceedings for abnormal profits.
Both the CPPA-G and Attock Gen have agreed on a “hybrid take and pay” mechanism like other Independent Power Producers (IPPs).
Both parties, in their tariff revision petition has prayed NEPRA to accept the application; (i) accept the application ;(ii) revise indexation mechanism of the Operation and Maintenance Component of the tariff as agreed between the applicants in clause 2.2 of the Application of Acceptance( AA) and ; (iii) revise indexation of insurance component of the tariff as agreed clause 2.2( b) of the AA; (iv) adjust the Foreign Component of RoE and RoEDC of the tariff as agreed between the Applicants in clause 2.2@) of the AA (v) revise the existing mechanism of “Take or Pay” to Hybrid Take and Pay” model, whereby the Company is entitled for 35% of RoE and RoEDC as part of CPP and remaining RoE and RoEDC component is subject to generation beyond 35% of contract capacity as agreed between the Applicants in clause 2.2b) of the AA.
The power company has requested NEPRA to implement the clause 3.2 of the AA which provides that “the revised tariff shall be effective from: (a) the date of notification and (b) withdrawal of respective letters and/ or claims and /or proceedings of NEPRA against the Company for abnormal profits and appropriate notice that the same stands fully and finally withdrawn and resolved, failing which the past excess adjustments (fuel and O&M) will be set aside.
The Regulator has also been requested to approve the tariff adjustment to become effective as provided in clause 3.2 of the AA.
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