The Group Managing Director, Sahara Power Group, Mr Kola Adesina, has said power firms do not gain anything from blackouts as their business is to sell electricity to consumers. Adesina stated this on Monday in Lagos, adding that the absence of cost-reflective tariff was limiting the power providers’ capacity to deliver better services.
He said; “The current pricing formula being adopted for electricity in Nigeria cannot and will not engender availability in any way or form. To make it so simple for us, the hypothetical price of electricity is N10; meanwhile, the government by regulation says we should charge N6. How possible is it for us to continue to create a commodity and sell below the cost price?” he said at the inauguration of Ikeja Electric’s PTC Undertaking Office in Ikeja GRA.
Adesina added; “If you have electricity, we are better off. If you don’t switch off your light, we are better off, because we are going to collect revenue from you. We, as electricity suppliers, do not in any way gain anything whatsoever from darkness. Our business is to provide light; our business is not to sell darkness. But we can only do that if all the customers pay bills and do not steal electricity or bypass our meters and connect directly.”
Source: The Punch