Kaduna - The Kaduna Power Holding Company of Nigeria (PHCN) generates N970 million monthly as revenue, the Managing Director of the company, Malam Idris Mohammed, said on Wednesday.
Mohammed made the fact known when the PHCN management visited the NUJ Press Centre in Kaduna but added that the company had a total outstanding debt of N21 billion.
"The company on an average generates N970 million monthly' with an average monthly billing of N1.6 billion,’’ he said..
Commenting on the increase in electricity tariff, the managing director explained that it was an order by the National Electricity Regulation Commission .
He said the increase was designed to cover the period of five years to recover the cost of operation in the power sector, adding that the policy would ensure that the energy received was paid for.
Mohammed said "if you look at infrastructure from generation to distribution you will realise that lot of equipment have been put in place and a lot of network generating service.’’
According to him, the justification for the hike in tariff is to also cover cost of massive equipment deployed to deliver electricity supply to customers.
He noted the new fixed charge of N500 was increased to N800 for prepaid metres.
While pledging partnership with NUJ, Mohammed urged the media to enlighten the public on the new charges.
He commended journalists in the state for their dedication to duty and sense of responsibility in their reportage.