PowerMin launches ratings for discoms

The power ministry on Tuesday unveiled a ratings programme for power distribution companies (discoms) which would enable them to get loans

The power ministry on Tuesday unveiled a ratings programme for power distribution companies (discoms) which would enable them to get loans at better interest rates based on their financial,managerial and regulatory performances.

These agencies would be rated on the basis of seven parameters,including financial status,meeting regulatory norms and others,minister of state for power Jyotiraditya Scindia said while releasing ratings for distribution companies (discoms).

State-run Power Finance Corporation,which was coordinating the programme,appointed ICRA and CARE to assign ratings. The programme covers all the 39 state power discoms. It,however,does not cover state energy departments and private discoms.

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Scindia said that integrated rating would facilitate realistic assessment of performance of distribution utilities and would enable them to weigh their strengths and weaknesses.

It will enable identification of areas of concern that adversely impact their performance and incentivise utilities to improve their operational and financial performance, power secretary P Uma Shankar said here.

The financial performance of the discoms gets the highest weightage in the rating mechanism. Four discoms from Gujarat have received top ratings with very high operational performance and financial performance capability.

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