The following article was published in PointBlankNews on September 9, 2013. To view the original article, click here.
Interstate Electrics the preferred bidder for the Enugu Electricity Distribution PLC (Enugu DISCO) has reiterated its plans to heighten efficiency for effective service delivery in the distribution of electricity in South Eastern Nigeria, following its successful payment of the balance of $94million required for the takeover of the DISCO. The company is jointly promoted by the multi-billion dollar Chrome Group, Power House International and the highly rated Metropolitan Electricity Authority (MEA) of Thailand.
“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” Chairman of Power House International, Mr Kester Enwereonu, had reinstated, adding that one of the group members, 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.
It was 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 percent 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 and the Eko Electricity Distribution Company Plc. Others are the Ibadan Electricity Distribution Company Plc; 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.
Official and private sector sources said at the weekend that with the final payment for the Enugu DISCO, “government is now satisfied with the progress so far made”. Chairman of BRESSON A.S. Energy, Mr. Gbenga Olawepo had also commended government efforts on the sale, stressing that 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”.