Issues related to UI pool. Payment to pool account by KPTCL and Pondy Till June 2010 payment to UI pool by KPTCL and Pondy was through cheque/DD. Pondy.

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Presentation transcript:

Issues related to UI pool

Payment to pool account by KPTCL and Pondy Till June 2010 payment to UI pool by KPTCL and Pondy was through cheque/DD. Pondy DD received by post. KPTCL hands over the cheque only evenings of Fridays SRLDC deposits the cheque on the same day to ICICI bank through their Courier Service provider High value clearance not available on Saturdays, Cheque realisation as per banking procedures, on Mondays or Tuesdays. Cheque Realisation date informed to SRPC considered for Interest calculations by them. Pool members to ensure realisation of cheques within Due date. Letter to KPTCL dt

Details of UI Cheque issued by KPTCL and deposited by SRLDC Wk No. in Year Details of Cheque payment Received at SRLDCCheque deposited to Bank 13 Friday Evening 15 Thursday EveningFriday Morning 18 Friday Evening 20 Thursday EveningFriday Morning 22 Thursday Evening 23 Friday Evening 24 Friday Evening 33 Friday Evening 35 Friday Evening 38 Friday Evening 39 Friday Evening 40 Friday Evening 42 Friday Evening 43 Thursday Evening 44 Friday Evening 45 Friday Evening 46 Friday Evening 47 Friday Evening 48 Friday Evening 49 Friday EveningSaturday Morning 50 Thursday EveningFriday Morning Wk No. 1 of Friday Evening Wk No. 2 of Friday Evening Proof of Deposit time by SRLDC

The importance of payment of interest in the UI regulations 10(2) If payments against the Unscheduled Interchange charges including Additional Unscheduled Interchange charges are delayed by more than two days, i.e., beyond twelve (12) days from the date of issue of the statement by the Secratariate of the respective Regional Power Committee, the defaulting constituent shall have to pay simple 0.04% for each day of delay. 10(3) Provided further that the liability to pay interest for the delay in payments to the “Regional UI Pool Account Fund” shall remain till interest is not paid; irrespective of the fact that constituents who have to receive payments have been paid from the “Regional UI pool account Fund” in part or full. 9(3) All payments received in the “Regional Unscheduled Interchange Pool Account Fund” of each region shall be appropriated in the following sequence: (a) First towards any cost or expense or other charges incurred on recovery of UI charges (b) Next towards over dues or penal interest, if applicable (c) Next towards normal interest (d) Lastly, towards UI and additional UI charges. The above establishes that the SRPC forum may not have powers to waive interest as it amounts to over-ruling of the CERC regulations.

Disbursement to Pondy Pondy not furnished bank details for UI/Reactive disbursements. Pondy is still receiving the UI/Reactive disbursements through Cheques only Sometimes the cheques are encashed only after 2-3 weeks This delay is causing problems in UI disbursements. Pondy is requested to ensure UI Receipts from SR pool through RTGS only and open Bank account and furnish details.

Issues related to UI default by TN Over Rs. 100Cr of UI and Rs 2.5Cr. of Reactive charge outstanding by TN IR payments to be done on 1 st charge basis Balance available fund disbursed on pro-rata basis No provision for cross adjustments of payables against the receivables in the UI Regulatins. Any short payments to pool account will attract interest and necessiate opening of LC as per Regulations. Letter to TN/CERC Letter to SR constituents

UI /Reactive charge dues to pool Over Rs. 100Cr of UI and Rs 2.5Cr. of Reactive charge outstanding by TN Talcher stage II to pay 2.5Cr as UI charges AP to pay 8Cr as UI charges. Letter to Talcher dt Letter to AP dt