CyanConnode Holdings PLC Conference of Indian Power Ministers
October 27 2022 - 2:00AM
RNS Non-Regulatory
TIDMCYAN
CyanConnode Holdings PLC
27 October 2022
27 October 2022
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Conference of Indian Power Ministers
CyanConnode Holdings plc (AIM: CYAN) provides an update on the
Indian Smart Metering market, following discussions at The
Conference of Power and Renewable Energy Ministers of State/ Union
Territories ("UTs") (the "Conference"), which was held on 14 and 15
October 2022 in Rajasthan, India. R.K Singh, Union Minister for
Power and New and Renewable Energy ("NRE"), chaired the Conference
which was attended by Krishan Pal Gurjar, Minister of State for
Power, Deputy Chief Ministers, Power, and NRE Ministers of States,
along with Principal Secretaries of States and UTs.
During the Conference, detailed deliberations were held, with
focus being on the financial viability and sustainability of the
distribution sector, modernization and upgrading of power systems,
and the development of power systems to ensure 24x7 power supply.
Discussions included the investment and power sector reforms
required. The S tates provided their inputs and suggestions on each
of these pertinent issues.
Delegates considered the critical role of the distribution
sector in ensuring financial and operational sustainability across
the power sector value chain. The Conference debated the effective
steps towards the reduction of Aggregate Technical and Commercial
("AT&C") losses which would ensure cost reflective tariffs,
accounting of subsidies and timely payment of subsidies by state
governments, clearance of outstanding dues of state government
departments and adherence to Electricity Late Payment Surcharge and
Related Matters Rules, 2022 ("LPS Rules") for timely payment of
dues to generating companies. In order to reduce AT&C losses,
it was agreed to expedite the deployment of prepaid smart meters to
consumers and establish appropriate energy accounting systems.
There was a dedicated brainstorming session on prepaid smart
metering and the Revamped Distribution Sector Scheme ("RDSS"), set
up to improve financial and operational efficiency of the
distribution companies ("DISCOMs"). The session focused on the key
challenges facing DISCOMs, the benefits of prepaid smart metering,
the current status and impact of the smart metering programme in
India, and the key measures being undertaken by the government.
Highlighting the renewable energy sector achievements of the
past few years , deliberations were made on policy, regulatory and
institutional interventions required for fast-track implementation
of renewable energy projects. It was emphasized that the states
should support the Government of India's objectives for non-fossil
installed capacity as well as creating an enabling framework to
enhance the domestic manufacturing capacity in the renewable energy
sector through various incentive measures.
Please click on link below to a pdf giving further information
from this event.
https://cyanconnode.com/wp-content/uploads/2022/10/Smart-Metering-in-India-update.pdf
Further information will be released on CyanConnode's website as
it becomes publicly available.
- Ends -
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 865
750
John Cronin, Executive Chairman www.cyanconnode.com
Cenkos Securities plc (Nomad and Broker) Tel: +44 (0) 20 7397
Stephen Keys / Charlie Combe 8900
Arden Partners plc (Joint Broker)
Simon Johnson (Corporate Broking)
Tel: +44(0) 20 7614 5900
About CyanConnode
CyanConnode is a world leader in narrowband radio frequency (RF)
mesh networks that facilitate machine to machine (M2M)
communication. CyanConnode's innovative technology uses the
industrial, scientific, and medical radio band, (ISM), which is
optimised to give exceptional performance and competitive total
cost of ownership. Through global partnerships, CyanConnode
provides customers with a solution for the rapid deployment of
local or countrywide ISM RF mesh networks that provide reliable and
secure M2M communication.
For more information, please visit www.cyanconnode.com
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