The Punjab State Power Corporation limited has been chosen as “Best Performing Utility in Power Sector” by Central Board of Irrigation & Power, KD Chaudhri, Chairman cum Managing Director said.
The award was presented to Chaudhri by Sanwar lal Jat, Minister of State, Ministry of Water Resources, River Development & Ganga Rejuvenation, Government of India in New Delhi. A jury comprising of AB Pandya, Chairman, Central Water Commission, AS Bakshi, Member, Central Electricity Regulatory Commission, Major Singh, Member Planning, Central Electricity Authority, Tarun Kapoor, Joint Secretary, Ministry of New and Renewable Energy, KS Popli, CMD, Indian Renewable Energy Development Agency limited, Ashok Sethi, Executive Director, Tata Power Co. ltd., and Avinash Tyagi, Secretary General, International Commission on Irrigation & Drainage was constituted to select the best power utility.
Chaudhri said PSPCl has been selected on the basis of its excellent performance in wide range of areas. It has is one of the lowest T&D losses in the country which came down from 23.92% in 2007 to 16.95% in 2014 which include EHT losses of 4% as well. Annual financial turnaround has been achieved from loss of Rs1640 crores in year 2010-11 to profit of 261 crores in year 2012-13, 256 crores in 2013-14 and expected profit of Rs170 crores in year 2014-15. The CMD said that already PSPCl’s achievements have been recognised by Power Finance Corporation by rating it second best utility in its draft rating.