Three power distribution utilities of Gujarat have bagged top rating of A+ on the basis of their performance for 2014-15 in an assessment by the Union Power Ministry.
The three power utilities are - Uttar Gujarat Vij Company, Dakshin Gujarat Vij Company and Madhya Gujarat Vij Company.
A book containing these ratings has been recently released by Power Minister Piyush Goyal.
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"Three state distribution utilities in Gujarat figure in the top most category of A+," it said.
However, Paschim Gujarat Vij Company which was given A+ rating for its performance in 2013-14, last year, has been accorded one notch lower rating of A this time for its performance in 2014-15.
Six utilites including Mangalore Electricity Supply Company, Bangalore Electricity Supply Company, Uttarakhand Power Corporation, Chamundeshwari Electricity Supply Corp and Southern Power Distribution Company of Telengana have been placed in A category.
There are 18 utilities in category B+ or B while 13 utilities have been placed in category C+ or C.
The integrated rating methodology for state power distribution utilities was developed by Power Ministry with active involvement of government bodies including Central Electricity Authority (CEA), Central Electricity Regulatory Commission (CERC) and transmission utilities.
Credit rating agencies CRISIL, ICRA and CARE had also assisted the ministry for rating the transmission utilities in the country.
The methodology was given final shape in consultation with Department of Financial Services and major public sector banks.
Power Finance Corporation was mandated to coordinate the rating exercise to be conducted annually. ICRA and CARE were selected to carry out the annual rating exercise for three years. It was unveiled in July 2012.
The exercise covers 40 state power distribution utilities and does not cover private utilities and state power or energy departments.
