PORT HARCOURT ELECTRICITY DISTRIBUTION COMPANY PLC
42, Obi Wali Road, Rumuigbo, P.M.B. 5554, Port-Harcourt, Rivers State, Nigeria.
Port Harcourt Electricity Distribution Plc, or Port Harcourt Disco, serves Bayelsa, Cross River, Rivers, Akwa-Ibom and parts of Dalta States in Nigeria’s industrial South South zone, a region dominated by oil and energy-related companies. Port Harcourt Disco owns and maintains the distribution network and support equipment within the zone, manages meter installations, servicing, and billing, coordinates consumer credit services, and collects revenue.
Port Harcourt Disco is one of 11 such distribution companies comprising a national distribution grid. The grid, in turn, is managed by a separate company, the Transmission Company of Nigeria (TCN) Plc.
Port Harcourt Distribution Company Plc was established as a public limited liability company on November 7th, 2005. Port Harcourt Disco is managed by a Chief Executive Officer (CEO) who reports directly to the CEO, Power Holding Company of Nigeria (PHCN). In July 1, 2006, Port Harcourt Disco became a standalone company as a next step toward its privatization.
In 1999, FGN began an aggressive restructuring of the power sector with several aims, including: introduction of efficient, private sector standards and management principles, and methodology, leading to reliable power priced by the market.
In 2001, the FGN approved a National Electric Power Policy (NEPP), followed in 2005 by the Electric Power Sector Reform (EPSR) Act. EPSR Act provides the legal authority for the unbundling of Nigeria’s power utility as well as the establishment of an independent regulatory commission, the Nigerian Electricity Regulatory Commission (NERC), to guarantee open access and ensure efficiency throughout the industry. EPSRA also provides for a consumer assistance fund, development of a competitive market, and establishment of a Rural Electrification Agency and Fund (REA & REF) and the Nigeria Electricity Liability Management Company (NELMCO).
The core investor sale option was adopted by the Bureau of Public Enterprise in the privatization of the eleven Distribution companies in Nigeria which include Port Harcourt Electricity Distribution Company. In this model, the Federal Government retained 40% while the Successor Company retained 60% in the franchise.
Credit: The Bureau of Public Enterprise.