Discoms muse on new biz strategies to lift revenue
Cash-starved electricity distribution companies (discoms) are exploring new revenue streams such as sharing data on inefficient appliances installed at user homes with appliance sellers, according to industry executives.
Under the plan, the discoms will tap user data on power consumption to pinpoint inefficient appliances in a household. They can then send a personalized customer alert and also share the data with equipment sellers for them to make a sales pitch for replacing the older appliances. This new business strategy could potentially become a lucrative source of revenue for the discoms.
The massive exercise has attracted interest from foreign investors such as Canada’s largest pension fund manager Canada Pension Plan Investment Board (CPPIB) and sovereign wealth fund Abu Dhabi Investment Authority (ADIA).
IntelliSmart, a joint venture between state-run Energy Efficiency Services Ltd (EESL) and India’s quasi-sovereign wealth fund National Investment and Infrastructure Fund (NIIF), is among the first in the country that aims to offer such a service to discoms.
IntelliSmart is doing a pilot and plans to offer the value-added service to the discoms of New Delhi Municipal Council (NDMC) and Uttar Pradesh, said Anil Rawal, chief executive officer of IntelliSmart.
