Recovery of cost of hedging and foreign exchange rate variation shall be made directly by the generating company from the beneficiaries without making any application before the Commission:
Provided that in case of any objections by the beneficiaries to the amounts claimed on account of cost of hedging or foreign exchange rate variation, the generating company makes an appropriate application before the Commission for its decision.
46. Transitory provisions: Notwithstanding anything to the contrary contained in these regulations –
(a) the tariff order issued by the Commission for the control period ending on the 31st March, 2011 and shall continue to operate; and 1 Subs. vide Not No. HPERC/F (5)(3)(1) (Gen.) dated 1 st Nov., 2013 published in the R H.P. dated 4 th November, 2013 at p. 4599-4606 and before its substitution it stood as under:
“43. Tax on Income In view of pre tax return on equity, tax on the income streams of the generating company shall not be recovered from the beneficiaries:
Provided that the deferred tax liability, excluding Fringe Benefit Tax, for the period up to 31st March, 2011 whenever it materialises, shall be recoverable directly from the beneficiaries and the long-term customers.” 30 Compendium of HPERC Regulations, March 2021
(b) the proceedings (including review petition) for amendments, revocation, variation or alteration of the said tariff order; shall continue to be filed and dealt with as if the repealed regulations in respect of the said tariff determination continue to be in-force, and the provisions of these regulations shall not apply.