Concise News correspondents with agency report
The Port Harcourt Electricity Distribution Company (PHED) lost N2.2 billion in revenue to unpaid bills and electricity wastage by consumers, Concise News gathers.
The Managing Director of 4Power, owners of PHED, Matthew Edevbie, on Friday in Porth Harcourt, announced that 90 per cent of consumers by-pass their meters. He said this was partly responsible for the revenue loss.
“In Port Harcourt for example, every 100 units of electricity that comes to our electricity network, we collect only 25 per cent equivalent of money.
“Even when we install meters in homes, about 90 per cent of consumers by-pass their meters.
“For every N1 billion worth of electricity PHED brings to this region, every month we get N450 million and also lose N550 million.
“PHED’s supply of electricity to four states is in excess of N4 billion every month, meaning that we lose N2.2 billion worth of investment funds on monthly basis,” he said.
Edevbie said that customers on its R2 platform pay N24.91 per unit. He claims this is a shortfall to the average tariff of N28.90 per unit allotted to Port Harcourt.
He said the development meant that DisCos subsidised electricity by N4 which also affected revenue.
Edevbie also said that PHED was not in advantage position when compared to Lagos DisCo. He claims Lagos Discos have 55 per cent domestic and 45 per cent industrial users.
He said this means that Lagos DisCo average-carriage amounts to lower subsidy.
“In our four states of coverage, we have 85 per cent domestic users while 15 per cent are commercial users, meaning that we should go higher to compensate for the low tariff.
Edevbie said that some customers should take the blame for high electricity bills charged to their homes. He said such customers allow neighbours to tap electricity from their meters and wires.
He urged the residents to report cases of electricity theft and vandalism of facilities to PHED outlets.
PHED covers Akwa Ibom, Bayelsa, Cross River and also Rivers State.