(1) Towards the end of the control period, the Commission shall review if the implementation of the principles laid down in these regulations has achieved their intended objectives. While doing this, the Commission 1 Subs. vide Not. No. HPERC/F(5)(3)(1)(Retail) dated 1 st November, 2013 published in the R H.P.
dated 4 th November, 2013 at p. 4579- 4596 and before its substitution regulation 38 read as under:
“38. Review during the control period
(1) The distribution licensee shall submit information as part of annual review on actual performance vis-à- vis performance targets approved by the Commission at the beginning of the control period.
(2) The distribution licensee shall submit the revised ARR and corresponding tariff adjustments 120 days before the commencement of the financial year. The revised estimates shall be required because of truedup costs on account of uncontrollable variations, profit sharing mechanism for exceeding the targets, and implementation of performance framework for quality of supply targets.” Compendium of HPERC Regulations, March 2021 39 shall take into account, among other things, the industry structure, sector requirements, consumer and other stakeholder expectations and the licensee’s requirements at that point in time. Depending on the requirements of the sector to meet the objects of the Act, the Commission may revise the principles for the next control period.
(2) The end of the control period shall be the beginning of the next control period and the licensee shall follow the same procedure, unless required otherwise by the Commission. The Commission shall analyse the performance of the licensee with respect to the targets set out at the beginning of the control period and based on the actual performance, expected efficiency improvements and other factors prevalent, determine the initial values for the next control period.