Two different committees of the National Assembly have met with the management of Port Harcourt Electricity Distribution Company of Nigeria, PHED, on ways to improve power situation in the market jurisdiction last week .
Chairman, Senate Committee on Privatization, Senator Ben Murray-Bruce explained that his committee was mandated by the Senate to go round assets privatized within a specific period and assess their states.
He stated that the electricity Distribution Companies, DISCOs, were part of the privatized sectors he was to meet with, a situation he said informed the meeting with management of PHED.
He called on the DISCOs to be transparent in their operations, stressing that they should not conceal information on their operations from Nigerians.
Earlier, Managing Director of PHED, Mr. Mathew Edevbie, enjoined the federal government to take steps to stabilize the exchange rate, saying it was impacting negatively on the operations of the power sector.
According to him, the energy sector was running at almost a loss since gas, insulators, conductors were sold in dollars “Electricity tariff is constant at N25 but we have to buy gas which is priced in dollars; insulators and conductors are also priced in dollars. So as dollars moved from N157 to almost N500, if we multiply the electricity tariff by three it will move to N75, so my cost have increased yet no profit but loses.
Acting Managing Director of BPE, Dr. Vincent Akpotairi who also spoke said efforts were on to redress challenges in the power sector.