PV Clauses & Prices/Indices
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Why Price Variation Clause?

The variation in prices in the Electrical Industry created unexpected conflicts between the Client and the Manufacturers. To resolve this problem the Manufacturers came together to form the Indian Electrical manufacturers’ Association (IEMA, later with addition of Electronics changed to IEEMA).IEEMA came up with the concept of Price Variation Clauses as a strong solution to contend with these problems. The Price Variation Clauses, based on robust allocation & analysis of prices of various raw materials become not only the most reliable but also the only source of realistic solution for variation matters.

What are Price Variation Clauses?

IEEMA Price Variation Clauses (PVC) are used in settling claims between purchaser and supplier for variation in the basic price of raw materials from the period of tendering till the date of delivery. These clauses are widely accepted by the industry and purchasing organizations, since they give variations on both sides, either upwards or downwards. By substituting the prices of raw materials in the given formulae appropriately the percentage variation over quoted price can be worked out mathematically.

Price Variation Clauses

Code Description Download
Cir 117_Cable 2 stage_Nov 17 Two stage method for Power Cable_Nov 17 Download
Cir 114_Discontinuation Domestic AL Jan2018 Discountinuation of Domestic Aluminium prices wef January 2018 applicable for PV clauses of Distribution Transformers and Transmission line Accessories & Hardware (TLA&H) Download
Cir. No. 56 Revision in base of Wholesale Price Index Numbers (WPI) to 2011-12 =100 dated 16 Jun 2017 Download
Cir. No. 59   Download
014/DIV/TRF/05 Clarification on applicability of CRGO (ES) price for BEE Star Three and above rated Distribution Transformers Download
Cir No. 029 Discontinuation of prices/indices for Transformers Download
Cir No. 008 Labor Index Link Factor Download
Cir No. 097 Discontinuation of prices/indices for Transformers Download
Cir No. 135 Inclusion of London Metal Exchange (LME) based Aluminium prices in the IEEMA PV Circulars Download
Cir No. 145 with annx Conductor PV formula with applicable two stage methodology Download
Cir No. 147 Revision in price variation formulae for distribution transformer w.e.f. from 1st June 2015 Download
Cir No. 160 Discontinuation of Domestic Aluminium price and using only London Metal Exchange (LME) Aluminium prices in Cable PV circular w.e.f September 2014 Download
Cir No. 160 with annx Discontinuation of domestic Aluminium price with two stage methodology Download
Cir. No. 169 Discontinuation of PV circulars for Transmission Line Towers giving Steel Angle Prices Download
Cir No. 195 & 223 Change in base of Whole Sale Price Index Number Download
Cir No. 261 Power Electronics Download
Cir. No. 353 Change in policy of Wholesale Index from Weekly to Monthly Download
Code Description Download
AB Cable _Nov 2017 LV & HV Aerial Bunch Cables Download
Arrester Surge Arrester – Polymer Housed Download
Battery Charger Battery Charger Equipments, Raw Material – Lead Download
Busduct Busduct Download
Cable PVC and XLPE Insulated Power and Control Cables up Download
Cable round Wire Steel Factors Cable Round Wire Steel Factors Download
Cable Round Wire Steel Factors_2012 Revised table P3 and P6 Cable Round Wire Steel Factors Download
Civil Works & Erection Civil Works & Erection associated with Electrical T&D Projects Download
Conductor_2012 Material Pricce Variation Clause for AAC/AAAC/ACSR Download
Conductor_2014 Conductor – Daily London Metal Exchange (LME) Aluminium Download
Distribution Transformer_2015 Distribution Transformers for Domestic Contracts w.e.f. 1st June 2015 Download
Distribution Transformer_DE_2015 Distribution Transformers for Deemed Export Contracts w.e.f. 1st June 2015 Download
Earth Wire_2015 Earth Wire w.e.f. 1st April 2015 Download
EL-ES Elevator Works Contract & Comprehensive/Non-Comprehensive Maintenance Contracts Download
EHV Cable_Nov 2017 Price variation clause for EHV Cables (66kV to 500 kV) Download
GLBL Unclad Glass Fabric Laminated Components Download
INSLR_2013 Composite Insulators Download
Instrument Transformer Copper, CRGO, Epoxy Resin and TOBS used in manufac Download
Instrumentation Cable Instrumentation Cable wef 1st July 2014 Download
Insulators Insulators – raw material Download
NSC Clause for Not Specifically covered electrical items Download
PLCC_2010 Power Line carrier Communication Equipment, Telemetering Equipment, Transducers and its Accessories PV clause Download
Power Capacitors Power Capacitors Download
Power & Control Cable_with XLPE_including Solar DC_ Nov17 Revision in price variation clause of Power and Control with XLPE factors Download
Power Electronics Power Electronics Download
Power Electronics_2010 Basic prices of RMs like Copper, Aluminium, WPI & Labour index (Indigenous & Import) Download
Power Transformer_2015 Transformers for Domestic/DE Contracts – Power w.e.f. 1st April 2015 Download
Rotating Machines Basic Price of Copper & Electrical Steel used for Rotating Machines Download
Star Rated Transformer_DE_2012 Star Rated Distribution Transformer PV clause for DE contracts w.e.f. 1 Jan 2012 Download
Star Rated_Transformer_2012 Star Rated Distribution Transformer PV clause w.e.f. 1 Jan 2012 Download
Switchgear Switchgear & Controlgear – Raw Materials Download
Switchgear_HT HT Switchgear (Above 36 kV) effective from 1st June 2007 Download
TLA&H_2011 Transmission Line Accessories & Hardware Download
TLA&H_2014 Transmission Line Accessories & Hardware with effect from 1st April 2014 Download
TLT_2010 Transmission Line Towers with effective from 2010 Download
TLT_2014 Transmission Line Towers with effective from 2014 Download
Transformer Oil Transformer Oil Base Stock Download
Transformer Oil_2011 Transformer Oil Base Stock_2011 Download
Transformer_2003 Transformers for E/DE Contracts – Distribution, Dry type and Power Download
Transformer_2009 Transformers for Domestic Contracts – Distribution, Dry type and Power Download
Transformer_DE_2009 Transformers for DE Contracts – Distribution, Dry and Power Download
Transformer_REC_2009 REC range Transformer for Domestic Contracts – Distribution, Dry type and power Download
Transformer_REC_DE_2009 REC range Transformers for E/DE Contracts – Distribution, Dry type and Power Download
Wave Traps Wave Traps Download

Raw Material Prices/Indices

The basic prices and indices are calculated on the basis of raw material prices, exclusive of excise/C.V. duty wherever manufacturers are eligible to obtain MODVAT benefit.

These basic prices and indices are for operation of IEEMA’s Price Variation Clauses for various products. Basic prices variation clauses, explanation of nomenclature may be obtained from IEEMA office.

Every care has been taken to ensure correctness of reported prices and indices. However, no responsibility is assured for correctness. Authentic raw material prices and indices are available in IEEMA’s basic price variation circulars applicable to various IEEMA PV clauses. These circulars are available on a nominal remittance.

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