Mumbai, Mar 12 (IANS): Adani Electricity Mumbai Ltd has retained the top position in the Union Power Ministry's 12th Annual Integrated Rating & Ranking for various parameters, an official spokesperson said here on Tuesday.
Adani Electricity Mumbai scored 99.9 out of 100 in performance, outshining 54 other electricity distribution companies all over India.
It hit a bull’s eye with a perfect score of 75/75 in financial sustainability due to its prudent cash management and healthy debt metrics.
The company got top marks, 13/13 for performing excellence, showcasing its commitment to reliable service, efficient billing and reduced distribution losses.
Similarly in community partnerships, Adani Electricity Mumbai secured 12/12 in the external environment category, demonstrating strong relationships with all stakeholders and local communities.
Adani Electricity Mumbai said that its success rests on its innovative approach to power distribution - with digital transformation in billing, multiple payment options, advances in meter reading capabilities, loss reduction through analytics and vigilance from 9.1 per cent to 6.5 per cent in just two years with the benefits reaching the customers, and financial excellence with strong working capital management practices to ensure optimal liquidity and reducing the interest burden on the customers.
Adani Electricity Mumbai's Managing Director Kandarp Patel said that the recognition belongs to its valued customers and all their power warriors, and it was their trust and feedback that drove the company to constantly innovate and improve.
“We are committed to providing Mumbai with a truly uninterrupted reliable and sustainable power supply, at the most competitive tariffs, and keep pushing the boundaries to provide a more sustainable future to the communities we serve,” assured Patel.
The Power Ministry’s rigorous evaluation process assesses public and private power utilities in the country on key performance indicators, fostering transparency and accountability within the sector.
The detailed analysis for the 12th Integrated Rating and Ranking of the Power Distribution Utilities, based on audited and provisional accounts of power distribution utilities, has been carried out by McKinsey & Company Inc with Power Finance Corporation Limited (PFC) as the nodal agency.
Adani Electricity Mumbai caters to over three million households and establishments spread across 400 sq km in Mumbai and its suburbs, meeting close to 2,000 MW of power demand with 99.99 per cent reliability, which is among the highest in the country.