PSPCL gets top rating from power ministry

The Punjab State Power Corporation Ltd (PSPCL) has been awarded the top A+ rating by the Union Ministry of Power in its 3rd annual Integrated Rating Exercise covering 40 state power distribution utilities in India. 

 The rating grades PSPCL with very high operational and financial capability. KD Chaudhari, chairman-cum-MD of PSPCL, said the rating exercise is an important step towards highlighting the focus areas for improvements in the distribution sector. 

 He added that the rating of distribution utilities was carried out considering the <g data-gr-id="21">weightage</g> of key factors like financial performance, audited accounts, cross subsidy and reforms measures. 

He said that corporation has been able to improve upon its revenue realised vis- a-vis expenditure booked which has led to an improvement in its cost coverage. PSPCL has shown <g data-gr-id="24">huge</g> improvement in its financial health by coming out of <g data-gr-id="25">loss</g> of Rs 1640 crores in 2010-11 to <g data-gr-id="26">net</g> profit of about Rs 260 crores in 2012-13 and Rs  250 crores in 2013-14. Its level of <g data-gr-id="23">cross subsidy</g> has also gone below 20 <g data-gr-id="22">pc</g>.