GAIL has claimed a total capex including land and ROU of Rs. 5047.36 crore from 2009-10 till the end of its economic life in 2037-38.
8Data however shows that the total capex outgo excluding IDC claimed by GAIL from 2009-10 to 2013-14 in its tariff filing was Rs. 2511 crore whereas as per the CA certificate, it was Rs. 2399.56 crore.
8While analyzing the CA certificates it was observed the CA certificate for Capital Work in Progress for the FY 2011-12 does not match with the balance appearing in the trial balance for that year.
8As per the certificates, the CWIP for the FY 2011-12 is Rs. 1673.32 cr and CWIP as per trial balance is Rs. 1703.94 cr.
8GAIL stated that the difference between trial balance and CWIP certificate submitted for the FY 2011-12 was an oversight and the gas major submitted a new trial balance for the FY 2011-12.
PNGRB on preliminary scrutiny of GAIL's future capex projections found discrepancies in the two submissions and sought a clarification on which GAIL submitted a revised estimated future capex.
8In its tariff filing, GAILhas claimed a total opex of Rs. 5137.76 crore from 2012-13 till the end of its economic life in 2037-38.
8Out of which GAIL claimed a total of Rs. 24.96 crore as operating expenses for the FY 2012-13 and 2013-14. On scrutiny however it was observed that CA certificate of opex submitted by GAIL do not reconcile with the trial balance of FY 2013-14.
8GAIL has now submitted fresh figures
8Moreover, GAIL in its tariff filing has claimed a total operating expenses of Rs.5112.57 crore from 2014-15 to 2037-38.GAIL has considered the impact of inflation rate on opex at 5.75%. For future opex i.e., for FY 2014-15 onwards, GAIL, instead of escalating actual opex for the FY 2013-14, has considered a 2.5% figure of the cumulative capex for the respective year and has escalated it with the inflation rate of 5.75% per annum from 2013-14 for the respective number of years.
8In addition to the apex, GAIL has considered 0.3% of the throughput as unaccounted gas loss, as a cost to be recovered through the transportation tariff.
GAIL in its tariff filing has claimed a total unaccounted gas loss of a substantial Rs. 2263.80 crore from FY 2012-13 to 2037-38.
For more details visit indianpetroplus.com
8Data however shows that the total capex outgo excluding IDC claimed by GAIL from 2009-10 to 2013-14 in its tariff filing was Rs. 2511 crore whereas as per the CA certificate, it was Rs. 2399.56 crore.
8While analyzing the CA certificates it was observed the CA certificate for Capital Work in Progress for the FY 2011-12 does not match with the balance appearing in the trial balance for that year.
8As per the certificates, the CWIP for the FY 2011-12 is Rs. 1673.32 cr and CWIP as per trial balance is Rs. 1703.94 cr.
8GAIL stated that the difference between trial balance and CWIP certificate submitted for the FY 2011-12 was an oversight and the gas major submitted a new trial balance for the FY 2011-12.
PNGRB on preliminary scrutiny of GAIL's future capex projections found discrepancies in the two submissions and sought a clarification on which GAIL submitted a revised estimated future capex.
8In its tariff filing, GAILhas claimed a total opex of Rs. 5137.76 crore from 2012-13 till the end of its economic life in 2037-38.
8Out of which GAIL claimed a total of Rs. 24.96 crore as operating expenses for the FY 2012-13 and 2013-14. On scrutiny however it was observed that CA certificate of opex submitted by GAIL do not reconcile with the trial balance of FY 2013-14.
8GAIL has now submitted fresh figures
8Moreover, GAIL in its tariff filing has claimed a total operating expenses of Rs.5112.57 crore from 2014-15 to 2037-38.GAIL has considered the impact of inflation rate on opex at 5.75%. For future opex i.e., for FY 2014-15 onwards, GAIL, instead of escalating actual opex for the FY 2013-14, has considered a 2.5% figure of the cumulative capex for the respective year and has escalated it with the inflation rate of 5.75% per annum from 2013-14 for the respective number of years.
8In addition to the apex, GAIL has considered 0.3% of the throughput as unaccounted gas loss, as a cost to be recovered through the transportation tariff.
GAIL in its tariff filing has claimed a total unaccounted gas loss of a substantial Rs. 2263.80 crore from FY 2012-13 to 2037-38.
For more details visit indianpetroplus.com
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