The management of the Port Harcourt Electricity Distribution Plc has disclosed that the company recorded the highest revenue collection of N6.3bn in May, across its four mandate states.
The power distribution firm said N6.3bn was a 71 per cent increase in collection efficiency as against 66 per cent in collection efficiency in April in Rivers, Bayelsa, Cross River and Akwa Ibom States, it noted in a statement signed by Olubukola Ilevbare.
According to the firm, its collection stood at N4.6 billion in July 2022.
The statement read, “Other performance variables like the revenue per unit recorded a steep move to N 36.29 from N33.76 representing an increase of 2.53 per cent
“Available data also indicates that the Aggregate Technical, Commercial and Collections losses, which the industry benchmark for measuring reduction in overall losses, pegged at 41 per cent with a marginal variance of three per cent from the set target of 38 per cent for 2023.”
It explained that upon assumption of office on July 5, 2022, as the Managing Director/Chief Executive Officer of PHED, Dr Benson Uwheru, made a vow to transform the company by improving the revenue position, reducing Aggregate Technical, Commercial and Collections losses, strengthen corporate governance, reward outstanding performance and other customer-oriented initiatives.
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