Power Surge: Punjab's PSPCL Clinches 2nd Spot in National Ranking with A+ Grade
Punjab now stands second only to Gujarat in the performance of public sector power distribution companies.
Power Surge: Punjab’s PSPCL Clinches 2nd Spot in National Ranking with A+ Grade
The Punjab State Power Corporation Limited (PSPCL) has secured the second position in the 14th Annual Integrated Rating and Ranking of Power Distribution Companies for 2024-25. The Centre has released the rankings in which it awarded Punjab an "A plus" grade with an impressive score of 89.22 points.
According to the report, Punjab now stands second only to Gujarat in the performance of public sector power distribution companies. Notably, neighboring Haryana, which previously held the second spot, has slipped to the sixth position.
The report highlights a massive financial turnaround for the corporation; PSPCL recorded a profit of Rs 6,216 crore in 2024-25, a significant jump from the Rs 800 crore profit the previous year and a stark contrast to the Rs 4,776 crore loss suffered in 2022-23.
During the ranking period, the corporation was led by Chairman-cum-Managing Director Baldev Singh Sran.
The national ranking improved based on parameters such as timely payments for power purchases and the reduction of per-unit fuel costs. Experts suggest that this elevated status and financial stability will now enable PSPCL to secure loans at cheaper interest rates, further strengthening the state's energy infrastructure.
Source: The Tribune