Adani Electricity Mumbai tops Centre's discom ranking of 71 utilities

Adani Electricity Mumbai Ltd (Adani Electricity) topped the country's 71 electricity distribution companies for its overall governance including Financial Sustainability, Performance Excellence and External Environment.

Adani Electricity Mumbai has topped the list of India's 71 power distribution companies. The list is based on parameters such as overall governance, financial sustainability, performance excellence, and external environment, the company said in a statement on April 11.

Adani Electricity secured Grade A+ and got the highest integrated score of 99.6 out of 100 in power ministry's 11th edition of the ‘Annual Integrated Rating and Ranking’ of the country's power distribution utilities, the release stated.

The report prepared by McKinsey and Company assesses the accounts of electricity distribution companies for three financial years.

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Adani Electricity emerged as the only private utility to be rated among the top five on the list and also became one of the 15 discoms which did not have any negative marking.

"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 technology interventions, automated workflow management and a digital-first approach," Kandarp Patel, Managing Director of Adani Electricity Mumbai Ltd, said.

Also Read: Adani Power surges 3% after new thermal unit at Godda goes on stream

"We will continue to enhance our services and infrastructure to exceed global benchmarks. We also recommit ourselves to doubling our share of renewable energy to 60 percent. This is our commitment to Mumbai and to all our stakeholders who have stood by us through this journey to Number One," Patel said.

The Annual Integrated Rating and Ranking exercise is done by the Power Finance Corporation as per a framework approved by the ministry since 2012. The ranking covers 71 power distributors comprising 45 state discoms, 14 private discoms and 12 power departments across the country.