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Madhya Gujarat Vij Company Limited (MGVCL) recently submitted a petition to the Gujarat Electricity Regulatory Commission (GERC) outlining its financial and operational performance for the fiscal year 2023-24, alongside plans for the MYT Control Period (2025-2030). The filing focuses on the true-up process for FY 2023-24, projections for the upcoming control period, and tariff proposals.
In FY 2023-24, MGVCL reported improved efficiency, achieving a distribution loss of 6.77% against the approved 9.00%. This reduction saved energy and contributed to a lower power purchase cost of ?7,847.92 crores, compared to the approved ?8,095.48 crores. Such efficiencies have been highlighted as gains to be partially shared with consumers, following regulatory guidelines.
The company’s solar initiatives, aligned with India’s renewable energy goals, are notable. MGVCL installed 0.853 MW of rooftop solar systems across 80 office buildings, incurring ?3.35 crores in costs. These efforts aim to reduce reliance on conventional energy, optimize operational costs, and promote sustainability.
Additionally, the petition detailed capital expenditures for FY 2023-24 amounting to ?698.88 crores, surpassing the approved ?288.43 crores. This investment was allocated to projects like rural electrification, infrastructure improvement, and the integration of renewable energy. A significant portion went to projects under the Revamped Distribution Sector Scheme (RDSS), enhancing power quality and operational efficiency.
For the MYT Control Period (2025-30), MGVCL projects an aggregate revenue requirement of ?12,809.82 crores by FY 2029-30. The company plans to introduce tariff adjustments, including discounts for off-peak usage of renewable energy and incentives for smart prepaid meter users. These measures aim to encourage sustainable energy consumption and improve the financial viability of operations.
The petition underscores MGVCL’s commitment to modernizing its infrastructure and promoting renewable energy while ensuring affordability and reliability for consumers. |
