3 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 Saurabh Patel.
- 3 power utilities are – Uttar Gujarat Vij Company, Dakshin Gujarat Vij Company and Madhya Gujarat Vij Company.
- Credit rating agencies CRISIL, ICRA and CARE had also assisted the ministry for rating the transmission utilities in the country.
- This 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
- The exercise covered 40 state power distribution utilities and not the private companies and state power/energy departments.
- A book containing these ratings has been recently released by Power Minister Piyush Goyal
- 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.
- Rating exercises have been completed for the rating years 2011-12, 2012-13, 2013-14 and 2014-15 covering 40 state distribution utilities by designated credit rating agencies.
- 18 utilities in category B+ or B while 13 utilities have been placed in category C+ or C.
- This exercise covers 40 state power distribution utilities and does not cover private utilities and state power or energy departments.
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