Interstate Electrics to improve electricity distribution in S/East
Interstate Electrics, the preferred bidder for the Enugu Electricity Distribution Plc (Enugu DISCO) has reiterated its commitment to enhance efficiency for effective service delivery in the distribution of electricity in South East Nigeria. This follows its successful payment of the balance of $94million required for the takeover of the DISCO.
Speaking, the Chairman, Power House International, Mr Kester Enwereonu, said: 'We would begin operations with unique private sector model that has high efficiency and corporate governance standards that would set the pace for electricity distribution in Nigeria.
He based his conviction on the fact that a member of the group, Metropolitan Electricity Authority (MEA) of Thailand, has high efficiency and corporate governance standards and has a model that competes effectively with private sector models worldwide.
He further revealed that the consortium will improve the company's network so as to deliver excellent service to its customers, using their collective financial muscles and high expertise.
MEA reportedly distributes electricity in the Thai capital city of Bangkok and environs and is reputed to be one of the most efficient developing world power distribution companies with record technical and commercial losses of below five per cent over the past eight years.
The company's pledge is coming ahead of the planned meeting of the National Council on Privatisation (NCP), and the Bureau of Public Procurement (BPE) and is expected to be followed by government's statement on takeover schedule of the DISCOs.
The DISCOs are the Abuja Electricity Distribution Company Plc; Benin Electricity Distribution Company Plc; Enugu Electricity Distribution Company Plc; the Eko Electricity Distribution Company Plc; and Ibadan Electricity Distribution Company Plc.
Others are the Ikeja Electricity Distribution Company Plc; Jos Electricity Distribution Company Plc; Kaduna Electricity Distribution Company Plc; Kano Electricity Distribution Company Plc; Port Harcourt Electricity Distribution Company Plc; and Yola Electricity Distribution Company Plc.
Also speaking, the Chairman, BRESSON A.S. Energy, Mr. Gbenga Olawepo, commended government's efforts on the sale, saying, 'The milestones so far achieved by the federal government in reforming the power sector, especially as reflected in the successful privatisation of the electricity distribution (DISCOS) and generating companies (GENCOS) are laudable.'