State discoms returned to profit in FY25 after a decade of losses, signalling reform traction
Automatic fuel-cost pass-through and smart metering imposed long-overdue financial discipline
The ACS-ARR gap narrowed sharply, while AT&C losses fell to near 15 per cent
The Revamped Distribution Sector Scheme linked funding to performance and timely payments
Free or subsidised farm power still relies on state budgets and cross-subsidies
Retail competition, as proposed in the Electricity Amendment Bill, may unlock lasting reform