Islamabad        -    Senate Sub-Committee on Power on Thursday asked Nepra to conduct analysis of the year-wise details of the accounting profits of Independent Power Plants (IPPs) in 10 days. Sub-Committee of Senate Standing Committee on Power that met under the chairmanship of Senator Nauman Wazir Khattak further said that if there were some issues in the payments made to the IPPs beyond what was permitted to them, we would take stern action against them. The committee reviewed the issues of high tariff, capacity charges, heat rate and calculation of payback period of IPPs. The committee was given briefing on the accounting profits and ROE under tariff by HUBCO and sought information on other IPPs on the same format. The Committee asked NEPRA to seek information about profitability of individual IPPs and its comparison with Returns on Profits under tariff. The committee asked NEPRA to obtain the required information from the IPPs. The Committee noted that the objective to do this exercise is to see if all payments and profits are in accordance with the NEPRA terms and conditions and no overpayments or excessive profits are being made. The Committee is designated to review the issues of high tariff, capacity charges, heat rates and calculation of pay back periods of IPPs. It is pertinent to mention here that in its previous meeting Sub-Committee of Senate Standing Committee on Power has observed that an overpayment of Rs955 billion has been made to the IPPs during past six years which has increased the circular debt. While taking briefing on the extra profit by IPPs Advisory Council the committee was told that that NEPRA take decisions according to the power policies. We have submitted all data to the debt inquiry commission, representative of IPP’s advisor council told the committee. Senator Nauman Wazir said that before commercial operation of the Hubco power plant was allowed 15 percent profit. Under 2015 power policy, a specific efficiency standards have already been determined, official said.