The Uttarakhand Electricity Regulatory Commission (UERC) issued an important order on March 30, 2026, focusing on the financial performance and future planning of the Power Transmission Corporation of Uttarakhand Limited (PTCUL). The order includes a detailed review of the company’s actual expenses for the financial year 2024–25, a performance assessment for 2025–26, and the approval of the Aggregate Revenue Requirement (ARR) for 2026–27.

For 2024–25, the Commission carried out a “true-up” process, which means comparing the actual audited expenses with earlier approved estimates. One of the key areas reviewed was Operation and Maintenance (O&M) costs. PTCUL had claimed employee expenses of ₹137.31 crore, but after analysis and adjustments, the Commission approved ₹121.27 crore. Similarly, repair and maintenance expenses were approved at ₹58.72 crore, while Administrative and General expenses were fixed at ₹31.13 crore. Despite these adjustments, PTCUL showed strong operational performance, achieving a transmission availability of 99.72%, which is higher than the target of 98%. Transmission losses were also maintained at a low level of 1.02%, indicating efficient system management.

The Commission also reviewed PTCUL’s large capital expenditure plans for the coming years. These include the development of Gas Insulated Sub-stations (GIS) and the expansion of transmission lines to strengthen the power infrastructure in the state. Based on this review, a revised Gross Fixed Asset (GFA) base was approved. For 2026–27, the GFA base has been set at ₹3,635.95 crore. This amount reflects investments supported through a combination of loans, equity, and government grants, and it will be used to calculate future depreciation and interest costs.

During the proceedings, one of the major concerns raised by stakeholders was PTCUL’s proposal to increase transmission charges by 58.83%. Industry representatives argued that such a sharp increase was not justified, especially when other states and national utilities typically raise charges by only 2% to 6% annually. They also expressed concerns that the company might be passing on costs related to financial inefficiencies and underutilized assets to consumers.

After considering all aspects, the Commission finalized the Annual Transmission Charges for 2026–27 at ₹542.36 crore. This includes ₹236.78 crore for O&M expenses, ₹111.95 crore for interest on loans, and ₹121.32 crore as return on equity. The final calculation also takes into account non-tariff income and other revenue sources to balance the overall requirement.

In addition to approving the charges, the Commission has given clear directions to PTCUL to improve its financial reporting and accounting practices. It has also asked the utility to resolve pending asset transfer issues with other state entities and to provide better documentation for future investment proposals. The order aims to ensure financial stability for the utility while protecting consumer interests.