Port Harcourt Disco’s Revenue Hits N6.3bn in May

Blessing Ibunge in Port Harcourt

The Port Harcourt Electricity Distribution (PHED) Plc, has recorded a new milestone in performance following the current revenue collection of N6.3 billion in the month of May 2023.

With the current record, the Port Harcourt Disco has recorded highest revenue collection ever in history.

This was revealed yesterday, in a statement signed by the Head, Corporate Communications of PHED, Olubukola Ilevbare, which quoted the Managing Director, Dr Benson Uwheru.

According to the statement, “the latest milestone in performance was recorded in the month of May 2023, with a corresponding revenue of N6.3 billion, which denotes a 71 per cent increase in collection efficiency as against 66 per cent in collection efficiency of the previous month of April 2023.”

The company’s collection stood at N4.6 billion Uwheru took over the management of the disco in July last year.

 Other performance variables like the revenue per unit recorded a steep increase of 2.53 per cent.

Available data also indicated that the Aggregate Technical, Commercial and Collections losses, ATC and C, 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.

 Upon his assumption of office on July 5, 2022, Uwheru made a vow to transform the company by improving the revenue position, reducing ATC and C losses, strengthen corporate governance, reward outstanding performance and other customer-oriented initiatives.

 Uwheru had also maintained that the company would continue to raise the bar in service delivery by investing massively in infrastructure and other service related operations.

He affirmed that it was a new dawn in company, saying the management would not relax on her laurels while expressing his gratitude to the entire workforce for their creativity, innovation and willingness to go extra miles in service delivery.

 Uwheru admonished staff of PHED that success was not only measured by revenue but by other indices and encouraged employees to keep working hard to sustain and surpass the new milestone.