Adani Electricity's technical and commercial losses shrink to 5.93 pc in FY23

economictimes.indiatimes.com:

Adani Electricity Mumbai on Tuesday said that its aggregate technical and commercial losses have reduced to 5.93 per cent in FY23 as against 6.55 per cent recorded a year ago. The Adani Group entity said it upped monitoring on the power theft side, which resulted the key ratio coming down to what it claimed as one of the lowest in the industry across the country.

It registered 774 first information reports with the local police for power thefts in FY23, more than double from 391 registered in FY22, as per an official statement. There were over 18,542 raids in FY23 as against 10,458 in FY22, while the irregularity assessed went up to Rs 38.48 crore in FY23 from Rs 21.75 crore in the year-ago period.

Raids against power thefts resulted in seizing of over 72.25 tonnes of wires and other equipment as against 73.58 tonnes seized in the previous year, the statement added. The power demand in certain slum clusters is already high, and new network development is not feasible due to acute space constraints.

Power theft overloads the network. This increases the cost of servicing as cables and transformers are more prone to failures, adding to a surge in repair and maintenance costs, it said.