Adani Electricity Mumbai tops on governance among power firms in India
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The Adani Electricity Mumbai (AEML) has topped the list of power distribution companies (discoms) in the latest ranking released by the power ministry, ending the decade-old domination of discoms of Gujarat.
In the 11th ‘Annual Integrated Rating & Ranking’ of power discoms, the AEML secured top rank with Grade A+ and the highest integrated score of 99.6 of 100.
The report, published by Power Finance Corporation under the power ministry’s aegis, has been prepared by McKinsey & Company. The assessment covers three financial years from 2019-2020 to 2021-2022.
All five discoms of Gujarat are also in the top slot with A+ ranking, along with the other private discom of Mumbai (Tata Power Mumbai), Noida Power Company, and two discoms of Haryana. In the top 10, there are three privately owned discoms. Private discoms are being rated from last year.
In a statement, AEML Managing Director Kandarp Patel said: “Over the past five years, our customer-centric focus has enabled us to reduce and stabilise tariffs, optimise power purchase costs, and improve operational efficiencies. We recommit ourselves to doubling our share of renewable energy to 60 per cent.”
The laggards, however, have remained the same. In the bottom 10 are the discoms of Uttar Pradesh, Bihar, Telangana, Tamil Nadu, and Jharkhand. These same discoms have remained in the last C minus category for years now. The discoms are rated on several metrics related to their financial and operational health.
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