logo Gujarat Energy Transmission Corporation Limited
 9001:2008 Certified Company
home
home contact us sitemap interface
 Search :
 
 
 
 

COMPANY PROFILE

FORMATION

Gujarat Energy Transmission Corporation Limited (GETCO) was set up in May,1999 and is registered under the Companies Act,1956.The Company has been promoted by erstwhile Gujarat Electricity Board (GEB) as its wholly owned subsidiary in the context of liberalization and as a part of efforts towards restructuring of the Power Sector.

POWER REFORM

Pursuant to the enactment of the Electricity Act, 2003 and the Gujarat Electricity Industry (Reorganization and Regulation) Act, 2003, Government of Gujarat issued various Notifications, Government Resolutions and Transfer Schemes for vesting of the assets, liabilities, proceedings and personnel from Erstwhile Gujarat Electricity Board (GEB) to the Government of Gujarat (GOG) and then to revest the same into six successor transferee Companies i.e. one Generation Corporation, one Transmission Corporation and four Distribution Companies. A new Corporation named Gujarat Urja Vikas Nigam Ltd. (GUVNL) was then incorporated in December, 2004 in terms of the Government of Gujarat Resolution to carry out the residual functions (including power trading) of the Erstwhile GEB.

The Energy and Petrochemicals Department, Government of Gujarat vide its Notification No.GHU-2006-91-GUV-1106-590-K dated the 3 rd October, 2006 notified the Financial Restructuring Plan (FRP) i.e. final Opening Balance Sheet of all Companies as on 1st April, 2005 in super session of its earlier Notification No. GHU-2006-53-GUV-1106-590-K dated the 6 th May, 2006 and in pursuance of the provision of Para (C) of Sub-Clause (6) of Clause 5 of the Gujarat Electricity Industry Re-Organization and Comprehensive Transfer Scheme, 2003 duly notified under the Gujarat Electricity Industry Reorganization and Regulation Act, 2003, thereby substituting the Provisional Opening Balance Sheet notified on 31st December, 2004, 31st March, 2005 and 6 th May, 2006 respectively of all the successor transferee Companies including the Company i.e. GETCO.

SHARE CAPITAL

The Authorized Share Capital of the Company has been increased from Rs.100 Crores to Rs 2000 Crores in March, 2005. The Paid-up Share Capital as on 31 st March , 2005 is Rs.45,00,700/- being the subscription from the subscribers to the Memorandum & Articles of Association of the Company and by erstwhile Gujarat Electricity Board (GEB) as Promoter.

The Final Opening Balance Sheet contains the value of assets and liabilities which stand vested from the Erstwhile Gujarat Electricity Board (GEB) to the Government of Gujarat and then its revesting from Government of Gujarat to the successor transferee Companies including your Company i.e. GETCO. The consideration for the transfer of Transmission Undertaking comprises of the value of assets and liabilities and the proceedings relating to transmission activities of Erstwhile Gujarat Electricity Board (GEB) as specified in the Notification no. GHU- 2006-91-GUV-1106-590–K dated the 3 rd October, 2006 will be discharged by the Company i.e. GETCO by issue of Equity Shares of Rs 10/- each fully paid up for consideration other than cash to Gujarat Urja Vikas Nigam Ltd. (GUVNL) the successor Company to Erstwhile GEB as may be directed by the Government of Gujarat (GOG).

There being no clarification/direction in the Notification in respect of the exact number of Equity Shares to be issued requiring Capital Restructuring of Equity Share Capital which has a bearing on various accounting Ratios including Debt- Equity Ratio etc. and preferably also consider to give the break up of Equity Capital and Share Premium Account thereby reflecting appropriate Earning Per Share (EPS) as prevailing in the Power/Electricity Industry. The Company has already made reference to GUVNL to approach GOG for seeking direction regarding the issue of Equity Shares and to issue a fresh notification/direction for the purpose. Pending that it has been decided to show the consideration of assets and liabilities under the Account Head of “ Equity Share Capital Suspense Account “ in the Balance Sheet of the Company for the F.Y. 2005-06 .

MAIN OBJECTS IN THE MEMORANDUM OF ASSOCIATION OF THE COMPANY

The Company is formed with the Main Objects mentioned in the Memorandum of Association of the Company as suitably amended in consonance of the Electricity Act, 2003 in December, 2003 for the transmission of Energy generated and also to function as the Load Dispatch Center.  

STATE TRANSMISSION UTILITY

The Energy and Petrochemical Department, Government of Gujarat vide its Notification Ref: GHU-2004, 31-GEB-1104-2946-K dated the 29th May, 2004 under Section 39 of the Electricity Act, 2003 (36 of 2003) and in super session of Govt. Notification , Energy and Petrochemical Department No:GHU-99-5-GEB-1198-6329-K dated 25.1.1999 has notified that the Gujarat Energy Transmission Corporation Ltd. (GETCO), a subsidiary Company of Gujarat Electricity Board (GEB) as the “State Transmission Utility ” w. e. f. 1st June, 2004.

LOAD DESPATCH CENTRE

The Energy and Petrochemical Department, Government of Gujarat vide its Notification Ref: GHU-2004, 31-GEB-1104-2946-K dated the 29 th May, 2004 under Section 31 of the Electricity Act, 2003 ( 36 of 2003) has notified by establishing that the Load Despatch Centre (LDC) situated in the Jambuva , Dist. Vadodara as the State Load Despatch Centre , which shall be operated by Gujarat Energy Transmission Corporation Ltd. , Vadodara for the purpose of exercising the powers and discharging the functions under the said Act w. e. f. 1st June, 2004.

BOARD OF DIRECTORS

In terms of Article 34 of Articles of Association of the Company , the number of Directors of the Company shall not be less than four and not more than twelve. Accordingly , at present there are seven Directors on the Board of the Company.

Gujarat Electricity Board (GEB) or GUVNL and its successor and assignee in terms of Article 37 of Articles of Association reserves the right to nominate one third of the Directors of the total strength of the Board in consultation of the Government .Whereas Article 38 of Articles of Association reserves the right to appoint Chairman in consultation of the Government . Consequently, at present there are four non-rotational Nominee Directors representing erstwhile Gujarat Electricity Board ( GEB ) i.e. GUVNL including Chairman on the Board. These includes professional Directors co-opted on the Board having expertise in the Power Sector of the different States.

 POWER REFORM ENCOURAGES COMPETITION IN POWER SECTOR

The Electricity Act, 2003 and the Gujarat Electricity Industry (Re-Organization & Regulation) Act, 2003, have introduced competition by way of open access in the Generation , Transmission and Distribution areas which also provide for reorganization of the State Electricity Boards through appropriate Transfer Schemes being formulated by the State Governments. The aforesaid Enactments have paved the way for comprehensive reforms and restructuring of the State Electricity Board with an aim to restructure the electricity industry in the manner that will ensure the long term viability and sustainability of the Power Sector as a part of reform process. It was envisaged to disaggregate erstwhile GEB, the Promoting Statutory Body into separate seven entities with functional responsibilities for Generation, Transmission and Distribution respectively with complete autonomous operations, subject to few common departments/functions with Gujarat Urja Vikas Nigam Ltd. (GUVNL) till stabilization of all Companies pursuant to the Memorandum of Understanding (MOU) executed amongst all Companies.

 TRANSMISSION AGREEMENT (TA)

The Company has executed Transmission Service Agreement (TSA) amongst the Gujarat Urja Vikas Nigam Ltd. (GUVNL), Gujarat State Electricity Corporation Ltd (GSECL) and Four Distribution Companies namely, Uttar Gujarat Vij Company Ltd. ( UGVCL) , Madhya Gujarat Vij Company Ltd ( MGVCL , Dakshin Gujarat Vij Company Ltd. ( DGVCL) and Paschim Gujarat Vij Company Ltd. (PGVCL) for tariff subject to the approval of the Government of Gujarat and Gujarat Energy Regulatory Commission (GERC).

COMPANY ATTRACTING PROVISIONS OF SECTION 617 OF THE COMPANIES ACT, 1956 AS THE GOVERNMENT COMPANY

The Company attracted the provisions of Section 619–B of the Companies Act, 1956 with effect from 26 th April, 2002 by virtue of allotment of 4,50,000 Equity Shares to erstwhile Gujarat Electricity Board ( GEB ), the Promoter. Hence, the Company was falling under the Section 619–B of the Companies Act, 1956 being a Deemed Government Company.

With the Government Resolution dated 31 st March, 2005, the Equity Shares held by erstwhile GEB are transmitted in the name of the GUVNL and the status of the Company is being changed to Section 617 of the Companies Act, 1956.

Voltage Class Nos.of Circuits Total Length of Line in KMs.
66 KV  993

16369

132 KV 137 4550
220 KV 206 11334
400 KV 14 1842

 

 DETAILS OF VOLTAGE CLASS WISE SUB STATIONS
 Sr. No.  VOLTAGE CLASS  Total
 400 KV  220 KV  132 KV  66 KV & Others
 1  9  64  48  727  848

 

 

 Challenges for STUs

Day to day Operational Challenges

  • T & D losses
  • % Availability
  • Ageing of equipments- failure rate
  • Quality of Power
  • Grid Discipline
  • Statutory directives-Tariff, ABT

  • Financial- Profitable organization
  • Network planning commensurate with generation & distribution
  • Adhere to Central/State Regulatory norms
  • Network availability for IPPs, CPP’s for wheeling of power
  • Strengthening network to cope up with quality of power-

MVAR requirement

  • Technical and behavioral competencies- efficiency in processes
  • Renovation and Modernization in the area of
    • Equipments-Change in technology
    • Maintenance techniques- Predictive and RLA
    • Efficiency in operat

 

VisionMissionCore Value
To Build, Operate and Maintain an efficient Power Transmission System
 
 
 
 

Photo Gallery