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Monday, 18 August 2014 00:00

Yola Electricity Distribution Company Plc

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YOLA ELECTRICITY DISTRIBUTION PLC

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2, Atiku Abubakar Road, P.M.B. 2271, Jimeta – Yola, Adamawa State, Nigeria.

 

Yola Electricity Distribution Plc, or Yola Disco, is located in North Eastern part of Nigeria, near Yaounde, Cameroon, and the Chad and Niger borders, predominantly dominated by peasant customers in Adamawa, Borno, Taraba, and Yobe States. 

The Mambilla Hydro-power Project (2000MW), which is under construction is part of FGN’s effort to increase power output to 10,000MW is located within Yola DisCo. The main local industry is agriculture, with food and animal products and by products processing as the major economic activities. Yola 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. 

Yola Disco is one of 11 such distribution companies comprising a national distribution grid. Power is wheeled by the Transmission grid network that is managed by a separate company, the Transmission Company of Nigeria (TCN) Plc. 

PRIVATIZATION

Yola Distribution Company Plc was established as a public limited liability company on November 7th 2005, with electricity distribution and marketing franchise covering Borno, Taraba and Yobe State. Yola Disco is managed by a Chief Executive Officer (CEO) and a Management Team who reports directly to the CEO, Power Holding Company of Nigeria (PHCN) Plc, Yola Disco’s parent company. By July 1, 2006, Yola Disco became a standalone company with the transfer of assets and liabilities to it. 

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 Yola 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.

Read 3215 times Last modified on Wednesday, 12 November 2014 18:55

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