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Port Harcourt Disco Targets N10bn Revenue in One Month 

Adaobi Rhema Oguejiofor

The Port Harcourt Electricity Distribution (PHED) Company has said that it was targeting a monthly revenue generation capacity of about N10 billion as opposed to its current N7 billion bill collection capacity.

The Managing Director (MD) and Chief Executive Officer (CEO) of PHED, Dr. Benson Uwheru, also announced that the Company was targeting a reduced Aggregate of Technical, Commercial, and Collection, ATC&C losses within the next one year, as opposed to its current 39 percent ATC&C losses.

Uwheru, while speaking to journalists on the sidelines of the first anniversary of his administration in PHED, said that the target was set in order to make the Disco the number one electricity distribution company in both quality customer service, staff welfare and also improved service delivery to customers.

The PHED Boss, who spoke on his achievement in the last one year, stated that there has been over 50 percent growth in
revenue, minimized energy theft and vandalism, 30 percent salary increment to staff, as well as an introduction of a better 
Health Maintenance Organization (HMO), 
and the absence of litigation from vendors in the last one year.

In his own words, “our vision is to be the number one electricity distribution company across our chosen market. We are driven by that vision anchored on three pillars namely, aggressive revenue growth, reduced ATC&C losses, and improved our liquidity position.

“When we set that vision, the Company was doing N4.8billion monthly revenue but I am happy to announce that because we have improved service delivery and energy allocation across the service bay tariff, we have been able to grow revenue significantly above 50 percent and last month we achieved a historic feat of N7 billion revenue.

According to him, When his administration came on board PHED’s ATC&C losses were almost hitting 50 percent, but as of last month, it has come down to 39 percent, which is also a positive achievement, when the target the Company has for 2023 is considered. He added that while the Disco may have achieved so much in one year, it is not inconsiderate of the big goals and targets ahead, as it has a 21 percent regulatory benchmark for ATC&C losses, and the Company must get there.

The CEO further expressed that the Disco would embark on improving its technology landscape by digitization and innovation because “we believe that digitizing the Disco through technology is a key project that we have to consider. And we have a mandate to digitize and innovate and I have told my team that it is either we innovate or die.”

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