The Port Harcourt Electricity Distribution Plc, PHED, said it has recorded a new milestone in performance reaching a culminated N6.3 billion highest revenue collection ever in history.
The company said its latest milestone in performance was recorded in the month of May 2023 with a corresponding revenue of N6.3B which denotes a 71 % increase in collection efficiency as against 66% in collection efficiency of the previous month of April 2023.
Recall that the company’s collection stood at N4.6B when the MD/CEO took over the reins of affairs in July 2022.
Other performance variables like the revenue per unit recorded a steep move to N 36.29 million from N33.76 million representing an increase of 2.53%.
Available data also indicate that the Aggregate Technical, Commercial & Collections losses, ATC& C, which is the industry benchmark for measuring reduction in overall losses pegged at 41% with a marginal variance of 3% from the set target of 38% for 2023.
The Guardian gathered that upon assumption of office on July 5, 2022, as the MD/CEO, Dr. Benson Uwheru made a vow to transform the company by improving the revenue position, reducing ATC& C losses, strengthening corporate governance, rewarding outstanding performance, and other customer-oriented initiatives.
In a statement released at the Corporate Headquarters and signed by the Head of, Corporate Communications Olubukola Ilevbari noted that in the wake of the new milestone, Uwheru maintained that the company will continue to raise the bar in service delivery by investing massively in infrastructure and other service-related operations.
Furthermore, the CEO affirmed that it is a new dawn in the company as the management will not relax on her oars while expressing his gratitude to the entire workforce for their creativity, innovation, and willingness to go the extra mile in service delivery.
He, however, used the opportunity to admonish all staff that success is not only measured by revenue but by other indices and encouraged employees to keep working hard to sustain and surpass the new milestone.
