PATIALA: Punjab State Power Corporation Limited (PSPCL) has slipped from ‘A +’ in 2020 to ‘a’ this year in an annual integrated ranking report for the 2020-21 financial year.
Now ranked seventh in the country, while Haryana both utility power has improved their performance and placed in fifth and sixth position.
Uni Power Minister R K Singh released the 9th annual integrated ranking of the country on Friday during the online meeting of the Power Finance Corporation, which prepared a ranking report by ICRA and maintenance of 41 countries (utility of the power) in 22 countries.
The performance of the state power distribution utility is stated at the time including operational, financial, regulatory and reform parameters.
The main concern about the performance of the PSPCL includes absolute subsidy dependence coupled with the delay in receiving subsidies, the cost of purchasing high power and low cost efficiency due to high employee costs, among others.
In class + ‘, Gujarat the four discounts retained their top rank in an integrated rank with Dakshin Haryana Bijli Vitran Nigam comes fifth.
Class ‘A’ class utility includes Uttar Haryana Bijli Vitran Nigam, PSPCL and Maharashtra State Electricity Distribution Company Ltd.
(in the same order).
Ten utilities are placed in class ‘B +’ including four of Karnataka and each of the Madhya Pradesh, Himachal Pradesh, Uttarakhand, Kerala, West Bengal, and Uttar Pradesh.
PSPCL slips from the ‘A +’ class to ‘A’ rating, behind Haryana Power Utilities
