MERC approved AEML SEEPZ's FY23-24 truing up, FY24-25 provisional truing up, and MYT ARR & tariffs for FY2025-26 to FY2029-30
Case of AEML SEEPZ Ltd. (ASL) for approval of Truing up of FY 2023-24, Provisional Truing up of FY 2024-25, and Aggregate Revenue Requirement (ARR) and Tariff for FY 2025-26 to FY 2029-30 for its Distribution Business
ASL, the distribution licensee for SEEPZ SEZ, filed (original 30 Nov 2024, revised 24 Dec 2024, admitted 26 Dec 2024) for truing-up of FY2023-24 under MYT Regulations 2019, provisional truing-up of FY2024-25, and a fresh ARR & multi-year tariff for the FY2025-26 to FY2029-30 control period under MYT Regulations 2024. The petition covered power purchase costs, O&M, capex, RoE, RPO, Resource Adequacy Plan and category-wise tariff design, following public hearing and stakeholder objections from SEEPZ consumers and associations.
- Approved Truing-up of FY2023-24 and Provisional Truing-up of FY2024-25 revenue gap/surplus as per ASL's filed heads (energy sales, power purchase, O&M, RoE, depreciation, interest on loans/working capital, NTI).
- Approved ARR and multi-year tariff for FY2025-26 to FY2029-30 across HT and LT categories with year-wise Demand, Wheeling and Energy Charges.
- Approved Time-of-Day (ToD) tariff structure: +20% peak surcharge (17:00-24:00 hrs) and up to -30% solar-hours rebate (09:00-17:00 hrs, Oct-Mar, from FY2027-28).
- Approved wheeling charges fixed at Rs.0.55/kVAh (HT) and Rs.1.45/kVAh (LT) across the entire control period.
- Directed continuation of Power Purchase Adjustment (PPAC)/Z-factor pass-through mechanism for power purchase cost variations.
- Approved Resource Adequacy Plan (ST-DRAP & MT-DRAP) scrutiny outcomes and directed compliance with RPO/energy storage obligations.
- Category-wise tariffs as approved to be implemented from FY2025-26 billing cycle.
- PPAC/Z-factor charge to be computed per MYT Regulations 2024 formula and applied to all categories for fuel/power purchase cost variations.
- ASL to comply with Resource Adequacy Plan (RA) directions and RPO/energy storage obligations for the control period.
- Annual true-ups for FY2025-26 onward to be filed as per MYT Regulations 2024 timelines.
- Electricity Duty/Tax on Sale of Electricity to be levied per Government of Maharashtra guidelines, disclosed on bills.
- Consumer Security Deposit to continue as per Supply Code Regulations, 2021 (as amended).
- • ToD tariff design (up to -30% solar-hours rebate vs +20% peak surcharge) rewards C&I consumers shifting load to daytime/solar hours and penalizes evening peak consumption — favorable for co-located solar/RE-plus-storage strategies.
- • Wheeling charges are frozen at Rs.0.55/kVAh (HT)/Rs.1.45/kVAh (LT) for the full 5-year period, giving open-access and captive consumers cost certainty.
- • Load Factor Incentive (up to 15% rebate on energy charges) benefits HT Industry/Commercial consumers maintaining high, steady load factors — relevant for continuous-process C&I loads.
- • Captive Power Plant (CPP) consumers face a lower standby-only additional demand charge (Rs.20/kVA/month) instead of full contract demand penalty, easing CPP/open-access hybrid setups.
For SEEPZ-based C&I/export units, the tariff order locks in falling energy charges through FY29-30 and strong ToD price signals — shifting operations, EV charging or storage discharge to 09:00-17:00 solar hours (up to -30% rebate) while avoiding 17:00-24:00 peak (+20%) will materially cut bills. Stable wheeling charges for 5 years also de-risk open-access and captive/RE-plus-storage business cases within the SEZ. Developers should model tariff trajectories against RE+BESS paybacks now.
Growthifye does not take responsibility for the accuracy of this information. Values are compiled from tariff orders published on the websites of State Electricity Regulatory Commissions and distribution licensees (plus CEA / MoP / Grid-India), parsed automatically and shown with their source. Always verify against the signed order before any commercial decision. This one-pager is a Vidura-assisted summary of the official order; the signed order prevails.