Yenagoa Debt Profile, Not A Fluke – PHED

It was not a fluke when Port Harcourt Electricity Distribution Company, PHED, through a release last week said that the outstanding electricity debt of customers in Yenagoa, the Bayelsa State capital was posing a serious threat to its sustainability.
The statement was as a result of the  barricading of PHED offices in Yenagoa by the Ijaw Youth Council, IYC, resulting into total blackout in the state capital since December 23, 2019.
An updated record, as at December 2019 now stands at *N16* , *620,458,203.12 billion* . A breakdown of the figure showed that PHED inherited *N5*, *982,746,640.74 billion* from the defunct Power Holding Company of Nigeria, PHCN, on 31st October 2013 while the balance of *N10* , *637,711,562.38 billion* was from November 1, 2013 till December 2019.
Further analysis showed that residential customers-R2 had *N13* , *478,505,726.34Billion* while State Ministries, Department and Agencies, MDAs, Yenagoa had *N* *2,558,660,414.34 billion* while Federal MDAs has an outstanding of *N91,558,680.76million* leaving the balance of *N388, N779, 285.35million* and *N102,954,096.33million* to Private maximum demand and commercial maximum demand customers.
It is also noteworthy to mention that the average electricity monthly billing in Yenagoa based on the allocation from the national grid clocks around *N159* , *253,559.42million* out of which PHED receives an average payment of *N27, 523,737.25million* with a customer population of 21,453. It is unbelievable that only 3,555 customers representing 17percent are the ones paying their electricity bill on monthly basis out of the said population of 21,453.
From the above figures, it  is very pertinent to state unequivocally that the behavioral payment pattern of the customers in Yenagoa has left so much to be desired and one begins to wonder how PHED and indeed the power sector would survive in the midst of the skyrocketing debt and hostilities.
It is regrettable that the economic activities in the state have been paralyzed arising from the action of the IYC but it is ideal to bring to public knowledge that world-over, the demand and consumption of electricity has a cost element which has ceased to be the case here.
PHED completely distances itself from any economic dislocation inflicted on its valued customers in Yenagoa arising from the unlawful action of the IYC to keep the state in total darkness but deems it appropriate to set the record straight.
He called on all relevant authorities such as security agencies and government functionaries to prevail on the IYC to vacate PHED offices to enable it serve our esteemed customers satisfactorily.

By: Taneh Beemene