During the RPM (Review, Planning, and Monitoring) meeting of States and State Utilities in New Delhi, Delhi, Union Minister R. K. Singh, Ministry of Power, released the report of the State Energy Efficiency Index (SEEI) 2021-2022.
- Five states are in the Front Runner category (>60 points) in SEEI 2021-22: Andhra Pradesh, Karnataka, Kerala, Rajasthan, and Telangana.
- Four states are in the Achiever category (50–60 points): Assam, Haryana, Maharashtra, and Punjab.
- The best-performing states in their respective state groups are: Chandigarh, Andhra Pradesh, Assam, and Karnataka.
- The two states that improved the most from the last index are: Telangana and Andhra Pradesh.
The SEEI 2021-22 index is developed by the Bureau of Energy Efficiency (BEE), a statutory entity under the Ministry of Power, in collaboration with the Alliance for an Energy-Efficient Economy. (AEEE).
State Energy Efficiency Index 2021-22 (SEEI 2021-22)
i.The SEEI 2021-22 evaluates the annual energy efficiency implementation progress made by 36 states and Union Territories (UTs) for the fiscal years 2020–21 (FY21) and FY22.
ii.SEEI 2021-22 includes 50 indicators (common and programme-specific) across 7 sectors: buildings, industry, municipal services, transport, agriculture, DISCOMs (distribution company), and cross-sector.
iii.States have been categorized as ‘Front Runner,’ ‘Achiever,’ ‘Contender,’ or ‘Aspirant’ based on their efforts and achievements.
iv.The SEEI 2021–22 includes programme-specific indicators to monitor the results and effects of state-level energy efficiency measures.
Note: India is committed to meeting Nationally Determined Contribution (NDC) goals and transitioning to a net-zero economy by 2070.
i.The SEEI assists states in identifying areas for improvement, learning from best practices, and adopting an economy-wide strategy to energy efficiency implementation.
- It strives to advance decarbonization efforts and create a more sustainable future by placing an emphasis on energy efficiency.
ii.According to the index, states should implement the following recommendations to advance energy efficiency and help achieve the Sustainable Development Goals (SDGs) and NDC:
- Enabling fiscal assistance for energy efficiency in the focus sectors
- Developing institutional capacity in states and UTs to address emerging needs and challenges in energy efficiency implementation
- Enhancing cross-functional collaborations across financial institutions, energy service companies, and energy professionals in large-scale energy efficiency implementation in states
- Mainstreaming energy data reporting and monitoring across sectors
About Bureau of Energy Efficiency (BEE):
i.On March 1, 2002, the Bureau of Energy Efficiency (BEE) was established by the Government of India (GoI) in accordance with the provisions of the Energy Conservation Act, 2001.
ii.Objective: To assist in the development of policies and strategies with a focus on self-regulation and market principles, within the broader framework of the Energy Conservation Act of 2001, with the primary goal of reducing the energy intensity of the Indian economy.
iii.The Energy Conservation Act provides provisions for promotional and regulating activities.
Adani Electricity Mumbai Ltd Ranked No.1 Power Utility in India
According to the 11th edition of the “Annual Integrated Rating and Ranking,” which was published by the Ministry of Power, Adani Electricity Mumbai Ltd. (Adani Electricity) has been recognised as the top electricity distribution company (DISCOM) in India among 71 such companies for its excellent governance, including financial sustainability, performance excellence, and the external environment.
- Adani Electricity was ranked first with a Grade of A+ and the highest combined score of 99.6 out of 100.
McKinsey & Company developed the rating report, and the evaluation is based on the financial statements from the last three fiscal years, which range from 2019-2020 to 2022-2033.
- Since 2012, the nodal agency Power Finance Corporation Ltd. (PFC) has conducted the Annual Integrated Rating & Ranking exercise in accordance with the framework approved by the Ministry of Power.
- It encompasses 71 power distribution utilities across India, including 12 power departments, 14 private discoms, and 45 state discoms.
i.Adani Electricity was found to be the best and only private utility to be rated in the top five, as well as one of 15 discoms with no negative marking.
ii.Adani Electricity received a score of 12.8 out of 13 for performance excellence, which included corporate governance, low distribution loss, billing efficiency and collection efficiency.
iii.Under External Environment, Adani Electricity received a score of 11.9 out of 12 for subsidy realized (last 3 fiscal years), loss takeover by the state government, government dues (last 3 fiscal years), tariff cycle timelines, and auto pass through of fuel costs.
iv.Under Financial Sustainability, Adani Electricity received the perfect score of 75 points for its ACS-ARR Gap (Cash Adjusted), Days Receivable, Days Payable to Generation Companies, Adjusted Quick Ratio, Debt Service Coverage Ratio (Cash Adjusted), and Leverage Debt / EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) (Cash adjusted).
Note: Early in April 2023, Adani Electricity declared the lowest rate hike of any discom in Maharashtra for the time period covered by the Multi-Year Tariff mechanism.
Recent Related News:
In February 2023, the Ahmedabad Bench of the National Company Law Tribunal approved an amalgamation of 6 wholly-owned subsidiary companies of Adani Power Ltd (APL): Adani Power Maharashtra Ltd (APML); Adani Power Rajasthan Ltd (APRL); Udupi Power Corporation Ltd (UPCL); Raipur Energen Ltd (REL); Raigarh Energy Generation Ltd (REGL); and Adani Power (Mundra) Ltd (APMuL).
About Adani Electricity Mumbai Limited (Adani Electricity):
i.Adani Electricity, a division of the Adani Group, is a power generating, transmission, and retail electricity distribution company.
ii.Adani Electricity owns and operates India’s largest and most efficient electricity distribution network.
CEO – Kandarp Patel