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 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)
Cir. No. 56
Revision in base of Wholesale Price Index Numbers (WPI) to 2011-12 =100 dated 16 Jun 2017
014/DIV/TRF/05
Clarification on applicability of CRGO (ES) price for BEE Star Three and above rated Distribution Transformers
Cir No. 135
Inclusion of London Metal Exchange (LME) based Aluminium prices in the IEEMA PV Circulars
Cir No. 147
Revision in price variation formulae for distribution transformer w.e.f. from 1st June 2015
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
Cir No. 160 with annx
Discontinuation of domestic Aluminium price with two stage methodology
Cir. No. 169
Discontinuation of PV circulars for Transmission Line Towers giving Steel Angle Prices
Code
Description
Download
Battery Charger_2023
Battery Charger Equipment PV Clause revised, ‘Conventional Battery Charger’ and New formula for ‘Modular Battery Charger’ and ‘Electric Vehicle Charger’ wef 1st Jan 2023
Composite Insulator Railway Transmission_Apr 2022
Composite Insulator for Railway and Transmission effective from Apr 22
Distribution Transformer_2015
Distribution Transformers for Domestic Contracts w.e.f. 1st June 2015
Distribution Transformer_DE_2015
Distribution Transformers for Deemed Export Contracts w.e.f. 1st June 2015
Distribution Transformer_2021
Distribution Transformers for Domestic/DE Contracts w.e.f. 1st September 2021
EHV Cable_Sep 19
Revised Price Variation Clause for XLPE Insulated EHV Cables (66 kV to 500 KV) effective from September 2019
LV SWGR _Jan 2019
LV SWITCHGEAR AND CONTROLGEAR (up to & including 1100 V) wef 1st Jan 2019
MV SWGR _Jan 2019
MV AIS (Above 1100 V and Up to & Including 36 KV) SWITCHGEAR AND CONTROLGEAR wef 1st Jan 2019
MV Power Cable_Sep 19
Revised Price Variation Clause for 3.3-33 KV XLPE Insulated Armoured Single & Three core Screen Cables effective from September 2019
Ni-Cd Battery_Mar 2024
PV formula will be applicable for ONLY NiCd Pocket Plate Batteries used in stationary applications and not for the Fibre and sintereted technology NiCd Batteries effective from Mar 24
PLCC_2010
Power Line carrier Communication Equipment, Telemetering Equipment, Transducers and its Accessories PV clause
Power & Control Cable_with XLPE_including Solar DC_ Nov17
Revision in price variation clause of Power and Control with XLPE factors
Power Electronics_2010
Basic prices of RMs like Copper, Aluminium, WPI & Labour index (Indigenous & Import)
Power Transformer_2015
Transformers for Domestic/DE Contracts – Power w.e.f. 1st April 2015
Power Transformer_2021
Power Transformers for Domestic/DE Contracts w.e.f. 1st September 2021
Solar Inverter Duty Transformer_2021
Solar Invertor Duty Transformers w.e.f. 1st September 2021
Star Rated Transformer_DE_2012
Star Rated Distribution Transformer PV clause for DE contracts w.e.f. 1 Jan 2012
Star Rated_Transformer_2012
Star Rated Distribution Transformer PV clause w.e.f. 1 Jan 2012
Transformer_REC_2009
REC range Transformer for Domestic Contracts – Distribution, Dry type and power
Transformer_REC_DE_2009
REC range Transformers for E/DE Contracts – Distribution, Dry type and Power
6 Quad Cables_Sep 19
Price Variation Clause for 6 Quad Railway Signalling Cables as per RDSO specification effective from September 2019
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.
