JUDGMENT

PER HON’BLE JUSTICE SURENDRA KUMAR, JUDICIAL MEMBER

1. The present appeal under Section 111 of the Electricity Act, 2003 has been preferred by the Punjab State Power Corporation Limited, a generation and distribution Company in the State of Punjab, against the order dated 16.07.2012, passed by the Punjab State Electricity Regulatory Commission (hereinafter referred to as the ‘State Commission’) in Petition No. 69 of 2011, whereby the State Commission has approved the Annual/Aggregate Revenue Requirements of the appellant and determined the retail supply tariff for the appellant for FY

2012-13 and reviewed the finances of the appellant for FY 2011-12.

2. The appellant has raised the following issues in the present appeal before this Tribunal :-

(i) O & M and Employees cost, (ii) Improvement in efficiency and loss level, (iii) Return on Equity, (iv) Generation Norms and Target for Recovery of Fixed Charges and Incentive, (v) Interest and Finance Charges on working capital, (vi) Reduction of Interest and Finance Charges due to Diversion of Funds.

3. Thus the main grievances of the appellant by challenging the impugned order before this Tribunal are that the State Commission has no