Adani Electricity Mumbai Ltd Adjudged Best Power Distribution Company By Centre

Adani Electricity announced the lowest tariff increase among Maharashtra's discoms earlier this month for the period covered by the Multi-Year Tariff mechanism. 

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The ministry of power released the 'Annual Integrated Rating And Ranking' of the country's power distribution utilities on Monday, with Adani Electricity topping the list with Grade A+ and the highest integrated score of 99.6 out of 100. Adani Electricity Mumbai Ltd (Adani Electricity) ranked first among the country's 71 electricity distribution companies in terms of overall governance, which included financial sustainability, performance excellence, and the external environment.

McKinsey & Company prepared the rating report, and the assessment is based on the accounts of the previous three fiscal years, from 2019-2020 to 2022-2023.

Adani Electricity announced the lowest tariff increase among Maharashtra's discoms earlier this month for the period covered by the Multi-Year Tariff mechanism. 

Adani Electricity emerged as the only private utility to be rated in the top five, as well as one of 15 discoms that received no negative feedback. "Over the last five years, our customer-centric focus has enabled us to reduce and stabilise tariffs, optimise power purchase costs, and improve operational efficiencies through cutting-edge technology interventions like SCADA, automated workflow management, and a digital-first approach," said Kandarp Patel, MD, Adani Electricity Mumbai Ltd.

Adani Electricity received a Performance Excellence score of 12.8 out of 13 for billing efficiency, low distribution loss, collection efficiency, and corporate governance.

Mumbai is one of India's most competitive electricity providers, according to the Power Finance Corporation and the ministry of power. 

Since 2012, the nodal agency Power Finance Corporation Ltd has carried out the Annual Integrated Rating and Ranking exercise in accordance with the framework approved by the Ministry of Power. It covers 71 power distribution utilities in India, including 45 state discoms, 14 private discoms, and 12 power departments. The exercise provides a framework for stakeholders to evaluate performance, identify gaps, assess the impact of actions taken, and plan ahead.