Mumbai: Adani Electricity Mumbai (AEML) on Tuesday said it is investing Rs 500 crore to install smart meters for seven lakh consumers in the financial capital by the end of 2023.
Listed Adani Transmission arm Power Discom said 7 lakh smart meters is the target of Phase I and the remaining 20 lakh consumers will get smart meters by the end of FY25.
In a late evening statement, younger rivals Tata Power It also said that it is on a similar drive to install smart meters, aiming to cover 1 lakh out of its 7.5 lakh consumers under technologically improved meters by March 2023, and cover all consumers by the end of FY25. To do.
AEML has already installed 1.10 lakh such smart meters, and the remaining 5.90 lakh will be done by the end of 2023 to complete the first phase, Chief Operating Officer Kapil Sharma told reporters.
Sharma said the meters will help consumers get real-time updates on power consumption, and enable the company to improve its collection efficiency in case of non-payment as it can disconnect the meter remotely.
Each unit of a smart meter costs up to Rs 1,000, but the savings in operating expenses, over time, outweigh the cost to the company’s managing director and chief executive officer. Kandrap Patel Told.
Patel said the cost of the additional cost would ultimately be borne by the customers, but the increase in energy bills would be “insignificant” given the benefits of such meters.
Patel said the capital expenditure of Rs 500 crore is being made from internal sources and the company has no plans for any equity investment.
The company, which has been operating for the last four years after the acquisition of Rs 18,000 crore Reliance Energy Patel said the Anil Dhirubhai Ambani Group is investing up to Rs 1,500 crore every year in various technology and network improvement initiatives.
He said it plans to continue with the same rate of investment for the next two years as well, and then consider the requirements later.
Patel said it has not been able to increase its market share in the last four years and is hopeful that initiatives on the services front will help it. On Tuesday, it also introduced a video chat facility for consumers, an artificial intelligence-powered chatbot and kiosk machines for bill payments.
Patel urged the government to bring in changes in discom rules to allow companies like him to expand into other sectors he is serving now, and added that it is working on other initiatives in parallel. .
There are plans to set up 8,500 electric vehicle (EV) charging stations with an investment of Rs 32 crore, he said, adding that work is also on on the home automation front.
Patel said the Kharghar-Vikhroli transmission line project is now progressing at the desired pace and should be commissioned by May next year.
Listed Adani Transmission arm Power Discom said 7 lakh smart meters is the target of Phase I and the remaining 20 lakh consumers will get smart meters by the end of FY25.
In a late evening statement, younger rivals Tata Power It also said that it is on a similar drive to install smart meters, aiming to cover 1 lakh out of its 7.5 lakh consumers under technologically improved meters by March 2023, and cover all consumers by the end of FY25. To do.
AEML has already installed 1.10 lakh such smart meters, and the remaining 5.90 lakh will be done by the end of 2023 to complete the first phase, Chief Operating Officer Kapil Sharma told reporters.
Sharma said the meters will help consumers get real-time updates on power consumption, and enable the company to improve its collection efficiency in case of non-payment as it can disconnect the meter remotely.
Each unit of a smart meter costs up to Rs 1,000, but the savings in operating expenses, over time, outweigh the cost to the company’s managing director and chief executive officer. Kandrap Patel Told.
Patel said the cost of the additional cost would ultimately be borne by the customers, but the increase in energy bills would be “insignificant” given the benefits of such meters.
Patel said the capital expenditure of Rs 500 crore is being made from internal sources and the company has no plans for any equity investment.
The company, which has been operating for the last four years after the acquisition of Rs 18,000 crore Reliance Energy Patel said the Anil Dhirubhai Ambani Group is investing up to Rs 1,500 crore every year in various technology and network improvement initiatives.
He said it plans to continue with the same rate of investment for the next two years as well, and then consider the requirements later.
Patel said it has not been able to increase its market share in the last four years and is hopeful that initiatives on the services front will help it. On Tuesday, it also introduced a video chat facility for consumers, an artificial intelligence-powered chatbot and kiosk machines for bill payments.
Patel urged the government to bring in changes in discom rules to allow companies like him to expand into other sectors he is serving now, and added that it is working on other initiatives in parallel. .
There are plans to set up 8,500 electric vehicle (EV) charging stations with an investment of Rs 32 crore, he said, adding that work is also on on the home automation front.
Patel said the Kharghar-Vikhroli transmission line project is now progressing at the desired pace and should be commissioned by May next year.