Port Harcourt DisCo revenue hits N5.2 billion in August – Official
The Port Harcourt Electricity Distribution Company (PHED) recorded N5.2 billion in revenue in August
The company had recorded a turnover of 4.3 billion naira in the previous months.
PHED Managing Director Benson Uwheru told reporters in Port Harcourt on Friday that the company had increased its revenue by N900 million in bill collection.
He said revenue of N5.2 billion was the highest the company has received since its inception in 2012.
He said, “When we resumed in July, PHED bill collection stood at N4.3 billion, and as of August 31, we have reached another milestone in our collection history at N5.2 billion.
“We achieved this in a short time by reshaping our core values and embracing the TRICE model of teamwork, reliability, integrity, customer service and excellence,” he said. declared.
Mr. Uwheru said that despite the growth, the company was still below the billed energy revenue target of N7.4 billion for the month of August.
"This shortfall is due to the theft of energy, the circumvention of meters by some customers and the refusal of some customers to sell (pay) the electricity consumed.
"Over the past six months, approximately 70,000 customers have not sold, meaning these people have consumed electricity without paying from Kobo.
“Thus, the collection of 5.2 billion naira is less than the energy billed for the month of August, which was around 7.4 billion naira,” he added.
As for counting, Mr. Uwheru said about 60% of customers in his franchise states of Akwa Ibom, Bayelsa, Cross River and Rivers have been measured.
He said that number meant that 40% of customers in the four states were billed based on estimated billing.
According to him, the company was waiting for the second phase of the federal government's National Mass Metering Program (NMMP), to close the metering gap in the four states.
"In addition to this, we are in discussions with various financial institutions and asset financing programs, to purchase meters and distribute them to customers to be paid within one to five years.
"This is another option that we want to aggressively pursue, so that we don't rely solely on NMMP to provide meters to our customers," he said.
ALSO READ: Port Harcourt DisCo Introduces New Model To Boost Electricity SupplyThe chief executive said the company faces several challenges in the areas of meter circumvention and vandalism, as well as some people's insistence that electricity be free.
He said one of the communities in his franchise refused to pay for electricity used, resulting in the company billions in lost revenue.
"A single community has over time incurred a debt of 21 billion naira. Every month, 400 million naira is debited from our account in PHED to use the energy of the community.
"We tried to collect our revenue but were unable to penetrate the community due to intimidation.
"But, we are working with the state government, security agencies and community leaders to allow us access to the community.
"We do it because companies are setting up there and using the energy for free," he added.
(NAN)
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The Port Harcourt Electricity Distribution Company (PHED) recorded N5.2 billion in revenue in August
The company had recorded a turnover of 4.3 billion naira in the previous months.
PHED Managing Director Benson Uwheru told reporters in Port Harcourt on Friday that the company had increased its revenue by N900 million in bill collection.
He said revenue of N5.2 billion was the highest the company has received since its inception in 2012.
He said, “When we resumed in July, PHED bill collection stood at N4.3 billion, and as of August 31, we have reached another milestone in our collection history at N5.2 billion.
“We achieved this in a short time by reshaping our core values and embracing the TRICE model of teamwork, reliability, integrity, customer service and excellence,” he said. declared.
Mr. Uwheru said that despite the growth, the company was still below the billed energy revenue target of N7.4 billion for the month of August.
"This shortfall is due to the theft of energy, the circumvention of meters by some customers and the refusal of some customers to sell (pay) the electricity consumed.
"Over the past six months, approximately 70,000 customers have not sold, meaning these people have consumed electricity without paying from Kobo.
“Thus, the collection of 5.2 billion naira is less than the energy billed for the month of August, which was around 7.4 billion naira,” he added.
As for counting, Mr. Uwheru said about 60% of customers in his franchise states of Akwa Ibom, Bayelsa, Cross River and Rivers have been measured.
He said that number meant that 40% of customers in the four states were billed based on estimated billing.
According to him, the company was waiting for the second phase of the federal government's National Mass Metering Program (NMMP), to close the metering gap in the four states.
"In addition to this, we are in discussions with various financial institutions and asset financing programs, to purchase meters and distribute them to customers to be paid within one to five years.
"This is another option that we want to aggressively pursue, so that we don't rely solely on NMMP to provide meters to our customers," he said.
ALSO READ: Port Harcourt DisCo Introduces New Model To Boost Electricity SupplyThe chief executive said the company faces several challenges in the areas of meter circumvention and vandalism, as well as some people's insistence that electricity be free.
He said one of the communities in his franchise refused to pay for electricity used, resulting in the company billions in lost revenue.
"A single community has over time incurred a debt of 21 billion naira. Every month, 400 million naira is debited from our account in PHED to use the energy of the community.
"We tried to collect our revenue but were unable to penetrate the community due to intimidation.
"But, we are working with the state government, security agencies and community leaders to allow us access to the community.
"We do it because companies are setting up there and using the energy for free," he added.
(NAN)
Support the integrity and credibility journalism of PREMIUM TIMES Good journalism costs a lot of money. Yet only good journalism can guarantee the possibility of a good society, an accountable democracy and a transparent government. For free and continued access to the best investigative journalism in the country, we ask that you consider providing modest support to this noble endeavour. By contributing to PREMIUM TIMES, you help sustain relevant journalism and keep it free and accessible to everyone.Donate
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