(1) A long-term customer may relinquish the long-term access rights, fully or partly, before the expiry of the full term of long-term access, by making payment of compensation for stranded capacity as follows:-
(a) Long-term customer, who has availed access rights for at least 12 years,-
(i) Notice of one (1) year – If such a customer submits an application to the nodal agency at least 1 (one) year prior to the date from which such customer desires to relinquish the access rights, there shall be no charges.
(ii) Notice of less than one (1) year – If such a customer submits an application to the nodal agency at any time lesser than a period of 1 (one) year prior to the date from which such customer desires to relinquish the access rights, such customer shall Compendium of HPERC Regulations, March 2021 11 pay an amount equal to 66% of the estimated transmission/ wheeling charges (net present value) for the stranded transmission/distribution capacity for the period falling short of a notice period of one (1) year.
(b) Long-term customer who has not availed access rights for at least 12 (twelve) years,- Such customer shall pay an amount equal to 66% of the estimated transmission/wheeling charges (net present value) for the stranded transmission/distribution capacity for the period falling short of 12 (twelve) years of access rights:
Provided that such a customer shall submit an application to the nodal agency at least 1(one) year prior to the date from which such customer desires to relinquish the access rights:
Provided further that in case a customer submits an application for relinquishment of long-term access rights at any time at a notice period of less than one year, then such customer shall pay an amount equal to 66% of the estimated transmission/wheeling charges (net present value) for the period falling short of a notice period of one (1) year, in addition to 66% of the estimated transmission/wheeling charges (net present value) for the stranded transmission/ distribution capacity for the period falling short of 12 (twelve) years of access rights.
(2) The discount rate that shall be applicable for computing the net present value, as referred to in sub regulation (1), shall be the discount rate to be used for bid evaluation in the Central Electricity Regulatory Commission’s Notification issued from time to time in accordance with the Guidelines for Determination of Tariff by Bidding Process for Procurement of Power by Distribution Licensees issued by the Ministry of Power.
(3) The compensation paid by the long-term customer for the stranded transmission/distribution capacity shall be used for reducing transmission/ wheeling charges payable by other long-term customers in the year in which such compensation payment is due in the ratio of transmission/wheeling charges payable for that year by such long term customers.
CHAPTER - 6 GRANT OF MEDIUM-TERM OPEN ACCESS