The Chairman of Kaduna Electric, Alhaji Yusuf Hamisu Abubakar, during the firm’s maiden Annual General Meeting (AGM) assured it’s esteemed customers of it’s renewed commitment to further double efforts in delivering efficient power supply in spite of the current harsh economic challenges in the country, Leadership reports.
Abubakar identified certain macro-economic, regulatory and operational constraints that hindered the performance of the company during the period under review. Other challenges included unfulfilled promises made to prospective investors during the bidding process, regulatory interference, non-cost reflective tariff, MDAs debt, capital expenditure limits, low electricity generation, failure of NERC to implement subsidy through the administration of Power Consumer Assistance Fund, non-availability of low interest credit facilities and frequent government intervention in the electricity market.
Despite the numerous challenges facing the company however, the board chairman disclosed that the firm is being re-positioned for improved performance. He enumerated some of the achievements recorded by Kaduna Electric during the period under review to include the stabilization of distribution network operations, increasing the distribution capacity by over 1500MVA, supply and installation of 25,000 smart meters as well as the expansion of the network to underserved areas in the company’s franchise area.
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