(1) The Commission may further shortlist the proposals received by it under clause (iii) of sub-regulation (2) of regulation 5 from the Nodal Agency, by taking into account:—
(a) the eligibility conditions as per regulation 3 of these regulations;
(ii) the critical importance of each such proposal for the smooth operation of the State Power System;
(iii) cost-benefit analysis of each proposal;
(iv) availability of balance amount in the PSDF after accounting for the estimated amount required for the schemes already sanctioned; and
(v) any other factors as the Commission may consider appropriate.
(2) The proposals so shortlisted and prioritized shall be considered for sanction for funding out of PSDF depending upon the availability of funds in PSDF.
(3) The funds against the sanctioned schemes shall be released on the recommendations of the Monitoring Committee as per the provisions of clause (ii) of subregulation (2) of regulation8:
Provided that amount to the extent of 10 % of the sanctioned cost of the scheme or Rs.10 lacs, whichever is lower, may be released, on the request of the concerned Project Entity, upfront immediately after the sanction of the scheme without waiting for the recommendations of the Monitoring Committee.
(4) The Commission may also, subsequent to sanction of the scheme, revise the scope, sanctioned cost and/or the completion targets of any such schemes based on the proposals submitted to it by the Nodal Agency alongwith the recommendations of the Monitoring Committee:
Provided that in case of any upward revision of the cost, the Commission may also direct the Nodal Agency and the concerned Project Entity to meet the additional cost in a manner as may be considered appropriate by it keeping in view the quantum of such additional amount and the other details.
(5) The Commission may issue suitable directions to the concerned Project Entity, or the Nodal Agency, in case of any deficiency in the performance of any scheme during operation stage duly taking into account the half yearly progress reports submitted to it under clause (v)(b) of sub-regulation (2) of regulation 5.
6 Compendium of HPERC Regulations, March 2021