Fill in the blanks:
Q1. The factors that influence………..and………….. thus also influence price.
Answer
Ans: demand and supply
Q2. Monopoly market is characterized by………………..seller.
Answer
Ans: single
Q3. ……………tariff is charged during peak demand and ………..tariff is charged during off-peak period.
Answer
Ans: higher, lower
Q4. The fee for privilege of service plus prices for services consumed is called a………………..tariff.
Answer
Ans: two-part
Q5. The rate base is the………..amount on which a return is allowed.
Answer
Ans: capital
Q6. Performance criteria may include both……………. and………….criteria.
Answer
Ans: operational and financial
Q7. Marginal cost pricing methods provide the most appropriate signals for the………..of electricity.
Answer
Ans: pricing
Q8. Short run Marginal Cost is the …………… cost of incremental production.
Answer
Ans: incremental
Q9. The concept of …………… tariff, comprising fixed and variable charges respectively was accepted, though it was only implemented in part.
Answer
Ans: two-part
Q10. For the first time ………………… norms were determined for station heat rate, auxiliary power consumption, specific oil consumption.
Answer
Ans: operational
Q11. The determination of terms and conditions of tariff has been left to the domain of the…………………. Commissions.
Answer
Ans: Regulatory
Q12. Where open access has been allowed to a consumer, he can reach an ………………. with his supplier for purchase of electricity.
Answer
Ans: agreement
Q13. For financing of future capital cost of projects, a Debt: Equity ratio of…………….should be adopted.
Answer
Ans: 70:30
Q14. The rates of depreciation so notified would be applicable for the purpose of…………….as well as…………….
Answer
Ans: tariffs
Q15. Accelerated growth of the generation capacity sector is essential to meet the…………..growth in demand.
Answer
Ans: estimated
Q16. It took some time before non-conventional technologies can compete with ……………… sources in terms of cost of electricity.
Answer
Ans: conventional
Q17. The national ……………… network in India is presently under development.
Answer
Ans: transmission
Q18. Investment by transmission developer other than CTU/STU would be invited through ……………… bids.
Answer
Ans: competitive
Q19. Making the distribution segment of the industry………….. and ………………. is the key to success of power sector reforms.
Answer
Ans: efficient and solvent
Q20. Loss making utilities need to be transformed into ……………..ventures.
Answer
Ans: profitable
Q21. The framework should be applied for both ……….and………….utilities.
Answer
Ans: public and private
Q22. The MYT framework implemented in the initial control period should have adequate …………… to accommodate changes in the baselines.
Answer
Ans: flexibility
Q23. Actual level of retail sales should be grossed up by normative level of T&D………….
Answer
Ans: losses as indicated in MYT trajectory
Q24. The use of the facility of Regulatory Asset should not be………….
Answer
Ans: repetitive
Q25. While fixing tariff for agricultural use, the ………………. of the need of using ground water resources in a………… manner also required to be kept in mind.
Answer
Ans: imperatives, sustainable
Q26. Direct…………is a better way to support the poorer categories of consumers.
Answer
Ans: subsidy
Q27. Fuel cost for thermal stations is calculated based on the specified norms and considering actual………value.
Answer
Ans: heat
Q28. Apart from fixed and variable charges, there is another element of tariff viz ……………….interchange.
Answer
Ans: unscheduled
Q29. The rate base is allowed on actual……………….. expenditure subject to prudence check by the CERC.
Answer
Ans: capital
Q30. To make the tariff fixation more objective and simple, CERC has decided to set up capital cost …………….for thermal power projects.
Answer
Ans: benchmarks
Q31. O&M expenses of…………power stations are worked out based on actual O&M expenses of the station.
Answer
Ans: hydro
Q32. When compared to other means of producing electricity, hydroelectric production costs run about…………………those of either fossil-fuel or nuclear power plants.
Answer
Ans: one third
Q33. Indian Institute of Management – Ahmedabad (IIM-A) called for the ……………. of the Central Electricity Authority (CEA) and Central Electricity Regulatory Commission (CERC).
Answer
Ans: merger
Q34. Ministry of Power rejected IIM-A’s …………………….and observed that the tariff fixation is in the exclusive domain of electricity regulatory commissions (ERCs).
Answer
Ans: recommendations in this regard
Q35. A system of single-part tariffs was in vogue in India for pricing of…………power.
Answer
Ans: thermal
Q36. …………… was initially made applicable to only central generating stations.
Answer
Ans: Availability Based Tariff (ABT)
Q37. CERC has to determine transmission of electricity. for inter-State
Answer
Ans: Mandatory Functions
Q38. CERC has to specify and enforce the ……………………..with respect to quality, continuity and reliability of service by…………….
Answer
Ans: standards
Q39. Specifying………….. cost norms and fixing………. upfront for the whole tariff period are the two main features of the new regulations.
Answer
Ans: capital, tariff
Q40. CERC would play a supportive role for…………….. and…………….. national level REC registry and REC market.
Answer
Ans: designing and regulating
Q41. Electricity is by its nature difficult to ……… and has to be available on………..
Answer
Ans: store, demand
Q42. The laws of physics determine how electricity flows through an electricity………………..
Answer
Ans: network
Q43. “Volume risk” is often used to denote the phenomenon whereby electricity market participants have uncertain volumes or quantities of ………………………… or…………………………
Answer
Ans: consumption or production
Q44. The two simplest and most common forms are simple fixed price forward contracts for………….. delivery and contracts for differences where the parties agree a strike price for defined…………..periods.
Answer
Ans: physical, time
Q45. Electricity liberalization refers to the………….. of electricity markets.
Answer
Ans: liberalization
Q46. The standard model for electricity liberalization is the ……………..model.
Answer
Ans: “British model”
Q47. The provisional tariff has been done away with and the companies will get final……….upfront.
Answer
Ans: tariff
Q48. The Commission has decided to separately bring out the tariff regulations for………..energy-based projects.
Answer
Ans: renewable
Q49. The generic tariff shall be determined on ………………basis for the Tariff Period.
Answer
Ans: levelised
Q50. Various parameters based on project type are specified in the tariff…………., for calculation of tariff for renewable.
Answer
Ans: regulation
Q51. Utilization of the network is generally determined in terms of either ………………… utilization or………….utilization of the transmission assets.
Answer
Ans: average, marginal
Q52. The marginal participation method analyses how the flows in the grid are modified when minor changes are introduced in the ………….or……………… of agent i.
Answer
Ans: production or consumption
Q53. ……………. by more than one distribution licensee through a combined bid process shall be permitted.
Answer
Ans: Procurement
Q54. The price offered by the bidders shall be the same for the ………………licensees inviting the bid.
Answer
Ans: distribution
Q55. A ……………. tariff structure featuring separate capacity and energy components of tariff shall ordinarily form the basis for bidding.
Answer
Ans: multi-part
Q56. ……………charges shall be payable by the procurer to the seller for the scheduled energy.
Answer
Ans: Energy
Q57. The RFP shall specify the ………………….. that would be used for evaluation of bids.
Answer
Ans: Discount Factor (DF)
Q58. The …………. bids shall be scored to ensure that the bids submitted meet minimum ………………….criteria set out in the bid conference.
Answer
Ans: technical, eligibility
Q59. A …………… can quote different annual tariff for various years within a variation band of maximum ten percent between two successive years.
Answer
Ans: bidder
Q60. Total charges for transmission of electricity by use of the transmission services provided by the ……………. selected through the bidding process as per these guidelines.
Answer
Ans: TSP(s)
Q61. The PPA defines all of the commercial terms for the sale of……………between the two parties.
Answer
Ans: electricity
Q62. The seller under the PPA is typically…………….. power producer.
Answer
Ans: an independent
Q63. The…………..are complex documents.
Answer
Ans: PPA’s
Q64. Each PPA has its own peculiarities and…………….
Answer
Ans: specialties
Q65. To meet the peak load the plant has to be high-cost-fuel-fired as opposed to base load in which the ……………….cost is less.
Answer
Ans: operational
Q66. Cost plus formula plus MOU approach with payment on deemed generation could cripple the financial position of the………………………
Answer
Ans: Buyer of Power (BOP)
Q67. ………………..of a plant of a specified capacity is left to the technical parameter worked out by the IPPs.
Answer
Ans: Installation
Q68. The……………………clauses are provided to cover political risks, natural risks and industrial/operational risks.
Answer
Ans: Force Majeure
Q69. If the norm of the ……………. ratio is prescribed by the Government, we should examine whether it has been maintained or not.
Answer
Ans: debt equity ratio
Q70. The investment plan and borrowing details should be examined to assess the …………. burden on the project.
Answer
Ans: interest
Q71. …………………..means a day other than Sunday or a statutory holiday, on which the banks remain open for business.
Answer
Ans: “Business Day”
Q72. The “winding-up”, “dissolution”, “insolvency”, or “reorganization” of a company or corporation shall be construed so as to include any ………………. or………………proceedings.
Answer
Ans: equivalent or analogous
Q73. The expiry or termination of an Agreement……….. affect accrued rights and obligations of the Parties.
Answer
Ans: shall not
Q74. The Agreement shall have a term from date of ………………by the Parties until the Expiry Date.
Answer
Ans: execution
Q75. The …………… shall have finalized the specific delivery point for supply of power in consultation with the Procurer;
Answer
Ans: Seller
Q76. The Seller shall have paid the………………. Price of the Land to the Procurers within six months from signing this Agreement.
Answer
Ans: Declared
Q77. The Parties expressly agree that the Procurers’ only liability for any ………………. of profits or any other loss of any other kind or description.
Answer
Ans: loss
Q78. The Unit which fails the Commissioning Test, shall be deemed to have not been Commissioned from the ………………date.
Answer
Ans: deemed commissioning
Q79. Each Party shall designate from time to time, in a ……………..notice to the other Party.
Answer
Ans: written
Q80. The Procurers shall prepare and submit to the Seller a ……………….., in the Agreed Form.
Answer
Ans: monthly
Q81. The Seller shall be responsible for ensuring that the Power Station is ………………… in accordance with Schedule 5 at its own cost, risk and expense.
Answer
Ans: commissioned
Q82. If a Unit (or the Power Station, as relevant) fails a Commissioning Test, the Seller may retake the relevant test within………….. days after the end of the previous test with………..day notice.
Answer
Ans: three (3), one (1)
Q83. The ……………..may jointly require the Seller to schedule a Maintenance Outage in accordance with Articles 7.6.1 and 7.6.2 to remedy any impairment of a Unit’s ability to meet its Contracted Operating Characteristics.
Answer
Ans: Procurers
Q84. All decisions at any meeting of the ……………… shall be made with the unanimous agreement of all persons present at such meeting.
Answer
Ans: Coordinating Committee
Q85. The Seller, both the …………………… and the …………………… shall each have the right to designate qualified and authorized representatives to monitor the Repeat Performance Test.
Answer
Ans: Procurers and the Monitoring Engineer
Q86. The Seller shall comply with a Procurer’s ……………………… that are issued in accordance with the Despatch Procedure agreed, as mentioned in Article 7.4.
Answer
Ans: Despatch Instructions
Q87. The Procurers shall jointly inspect and if necessary, recalibrate the……………..on a regular basis but in any event, at least once every three (3) months.
Answer
Ans: Metering System
Q88. The energy imported by the Seller to the Power Station shall, subject to Articles 9.4 and 9.5, be measured on the basis of meter readings from the……………
Answer
Ans: Import Meter
Q89. The ……………… shall be effected with Indian insurance companies to the extent that the Insurances can be effected with them in accordance with this Agreement.
Answer
Ans: Insurances
Q90. In the event of any Dispute between the Seller and any of the Procurers’ as to the capacity of any Insurance or reinsurance markets for the purposes of this Article 10.3 the matter resolved pursuant to the provisions of ……………
Answer
Ans: Article 17
Q91. The Seller shall issue to Procurer a signed……………….for the Energy Output supplied by the Seller to Procurer for the immediately preceding Month.
Answer
Ans: Monthly Bill
Q92. If at any time, such irrevocable ………………… amount falls short of the amount specified in Article 11.4.2, Procurer shall restore such shortfall within seven (7) days.
Answer
Ans: Letter of Credit
Q93. An affected Party means the Procurer or Seller whose performance has been affected by an event of
Answer
Ans: Force Majeure
Q94. Force Majeure shall not include………….. of finances or funds or the agreement becoming onerous to perform.
Answer
Ans: Insufficiency
Q95. …………. means the occurrence of any of the following after the date, which is seven (7) days prior to the Bid Deadline
Answer
Ans: “Change in Law”
Q96. …………. means the Supreme Court of India or any High Court, or any tribunal or any similar judicial or quasi-judicial body that has jurisdiction in relation to issues relating to the Project.
Answer
Ans: “Competent Court”
Q97. ………….shall be free to sell power allocated to such defaulting procurer to any third party till such termination payment has been made.
Answer
Ans: Termination of the Agreement
Q98. ………….may take over the debt from the existing lenders subject to lenders’ approval in lieu of the buy-out price and pay the residual amount to the seller.
Answer
Ans: procurer
Q99. The Seller shall indemnify, defend and hold Procurer harmless against any and all third party claims, actions, suits or proceedings for any loss of or damage to property of such third party, or death or injury to such…………….
Answer
Ans: third party Indemnity
Q100. The…………. Party may contest, defend and litigate a claim, action, suit or proceeding for which it is entitled to be Indemnified under Article 15.1.1(a) or 15.1.2(a) and the Indemnifying Party shall reimburse to the Indemnified Party all reasonable costs and expenses incurred by the Indemnified party.
Answer
Ans: Indemnified
Q101. Notwithstanding Article ………., the Seller may create any encumbrance over all or part of the Security Package or the other assets of the Project to the Lenders or the Lender’s Representative.
Answer
Ans: 16.1
Q102. Subject to Article 16.2.2, this Agreement may not be assigned by any Party other than by ……………. between the Parties to be evidenced in writing.
Answer
Ans: mutual agreement
Q103. …………. Agreement shall be governed by and construed in accordance with the Laws of India.
Answer
Ans: Governing Law
Q104. Where any Dispute arising out of or in connection with this Agreement is not resolved mutually then such Dispute shall be submitted to ………… by the Appropriate Commission.
Answer
Ans: adjudication
Q105. ………… Agreement may only be amended or supplemented by a written agreement between the Parties.
Answer
Ans: Amendment
Q106. ………… Agreement is solely for the benefit of the Parties and their respective successors and permitted assigns and shall not be construed as creating any duty, standard of care or any liability to, any person not a party to this Agreement.
Answer
Ans: Third Party Beneficiaries
Q107. …………by a Party shall be in writing and executed by an authorized representative of that Party.
Answer
Ans: A waiver
