Is this something that needs fixing?

I am in the process of replacing my flat roof. But on the roof is where the electrical service come in. Here is a picture. Image: http://i173.photobucket.com/albums/w67/143house/Coontie3/IMAG1801_zps50b7da92.jpg Since it's a flat roof I don't have an attic, but the panels are on the other side of the building, so this conduit enters the narrow space between the ceiling and roof deck and goes to the other end. Upon looking closer, this metal conduit has a hole and I can see the thick conductors inside of it.