Indian multinational conglomerate company Reliance Industries Limited is looking to leverage it’s Jio business into communication cards, meter data collection, cloud hosting services to companies dealing with the distribution of electricity and telecom, by entering the smart electricity meter market.
With the sight to reduce the losses in distribution of electricity, this move of Reliance Industries Limited comes in the build-up of ongoing world’s biggest electricity smart metering programme held in India.
To assist debt-ridden discoms of India to raise yearly revenues upto ₹1.38 trillion, India’s biggest electricity smart metering programme targets to replace about 250 million conventional electricity meters.
With the help of Narrow Band-Internet of Things (NB-IoT), Reliance Industries Limited is keen to offer these services while pondering to establish Advanced Metering Infrastructure (AMI) business in the Indian market. Software applications for the gathering of almost real-time usage and transfer of energy information coupled with smart equipment’ control center, these meters are established, which is also termed as “two-way communication.”
These smart meters indentify loss pockets which help to reduce the theft of electricity. These meters minimise the human intervention in billing, collection and metering which ensures the safety against electricity-theft.
Reliance Industries Limited subsidiary Jio Platforms Limited has strengthened it’s base in the areas of Artificial Intelligence (AI), data analytics, cloud and edge computing, internet of things (IoT), blockchain and machine learning.
Success of India’s “Reform Linked Result Based Scheme for Distribution” which costs around ₹3.5 trillion depends upon the smart meters’ implementation. To achieve this significant milestone, India has to build smart metering ecosystem covering every aspect right from the electricity generators to end-consumers.
Inadequacy of handling the distribution network efficiently, Indian electricity discoms have resulted in losses of around 22% and these distribution companies owe over ₹2 trillion to power generation and transmission companies, according to reports.
The Indian Government is keen to leverage the smart meters to overcome these losses and urge all the states and Union territories to replace the conventional electricity meters by smart meters over the next three years of time.