Bangalore, 13th April 2023: Tata Power’s Distribution Companies (Discoms) have achieved top ranking among national utilities, according to the recently released 11th Annual Integrated Ratings of Power Distribution Utilities released by the Ministry of Power through the Power Finance Corporation. The ratings have taken into account various parameters such as operational and financial performance, regulatory compliance, customer service, and energy efficiency, among others.
Cumulatively, Tata Power Discoms have a registered consumer base of 1.2 crore consumers across Mumbai, Delhi and the state of Odisha serving a populace of 6 crores.
The rating report is prepared by McKinsey & Company and the assessment is based on the accounts of the past three financial years, from 2019-2020 to 2022- 2023.
While Tata Power Mumbai Distribution and TP Western Odisha Distribution have scored 89.7 and 87.2 out of 100 respectively and have A+ grade each, Tata Power Delhi Distribution and TP Southern Odisha Distribution attained a score of 79.0 and 79.3 and received an A grade each.
Speaking on the achievement, Dr. Praveer Sinha CEO & MD, Tata Power “Tata Power is dedicated to changing the country’s power distribution landscape. We have created utilities that are efficient, prepared for the future, and focused on the needs of the customers. We are thankful to the Ministry of Power for its recognition of our Discoms’ achievements, and we will continue to lead the nation’s distribution reforms.”
Tata Power has recently acquired power distribution in Odisha comprising four Discoms in the state catering to northern, southern, central and western regions covering an area of 1,55,707 sq km serving a registered consumer base of 95 lakhs and a populace of 5 crores.
The recognition of Odisha Discoms ratifies the success of Public Private Partnership model in the distribution space. With the acquisition of Odisha power distribution Tata Power has increased its customer base from 25 lakhs to 1.2 crores in the short span of two years.
“Today, Tata Power Discoms are serving a populace of over six crores spread across the country including major cities like Delhi, Mumbai and Bhubaneswar. Our Discoms are delivering excellent service and providing reliable & quality power to consumers and these rankings are testament to their unmatched performance. It is very satisfying to see that that within two years of operations, our Odisha Discoms have also been upgraded in rankings based on improved operational and financial performance.” added Mr. Sanjay Banga, President T&D, Tata Power.
TP Central Odisha Distribution and TP Northern Odisha Distribution (with an upgrade) recognised with a B grade each. The ratings for the Odisha Discoms are based on their reported performance for FY22.
