Gujarat Urja Vikas Nigam Limited (GUVNL) is a state electricity regulation board in the Indian state of Gujarat,India owned by the Government of Gujarat. It was established in May 1999 and is registered under the Companies Act 2013. The company was incorporated under the Gujarat Electricity Board (GEB) as wholly-owned subsidiary. The company aims towards restructuring the power sector and improving efficiency of its management and distribution of various services to consumers. As a part of the power reform process, the Electricity Act, 2003, was passed by the Government of India and Gujarat Electricity Industry (Re-organization & Regulation) Act, 2003, was passed by the Government of Gujarat to organize and administer the electricity industry with an aim to improve efficiency in management and delivery of services to consumers.
The government of Gujarat framed the Gujarat Electricity Industry Re-organization & Comprehensive Transfer Scheme, 2003, (the Transfer Scheme) vide Government Notification on November 2003, for the transfer of assets/liabilities etc.,while Gujarat Electricity Board (GEB) to the successor entities. Accordingly, GEB was reorganized effective from 1 April 2005 into seven companies with functional responsibilities of trading, generation, transmission and distribution.
The Gujarat Urja Vikas Nigam Limited was incorporated as a Gujarat Electricity Board. Since 100% Shares in the other six companies are held by GUVNL w.e.f 1 April 2005 they have become subsidiary companies of GUVNL as per the provisions of the Companies Act,1956.
The GUVNL is engaged in the business of bulk purchase and sale of electricity, supervision, co-ordination and facilitation of the activities of its six subsidiary companies. The GSECL is engaged in the business of Generation of Electricity. The GETCO is engaged in the business of transmission of electricity. The UGVCL, DGVCL, MGVCL and PGVCL are engaged in the business of Distribution of Electricity in the Northern, Southern, Central and Western areas of Gujarat respectively.
Functions of GUVNL
The company was incorporated to take over the assets, liabilities and personnel of the GEB in accordance with Schedule G of the Main Transfer Scheme Notification dated 24 October 2003. The company has to carry out the residual functions (including power trading) of the defunct GEB.
One of the functions of the company includes coordination of the activities of its subsidiaries, business, and works to determine their economic and financial objectives and targets and to review, control, guide and direct their performance with a view to secure optimum utilization of all resources placed at their disposal.
Subsidiary companies
Gujarat State Electricity Corporation Limited (GSEC)
Gujarat Energy Transmission Corporation Limited (GETCO)
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Vikas is a given name.
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