25 June 2015, Lagos – Eko Electricity Distribution Plc says it has developed a robust metering plan, which once approved by the Nigerian Electricity Regulatory Commission will enable it to roll out and step up installation activities over the next few years.
The Managing Director and Chief Executive Officer, EKEDP, Mr. Oladele Amoda, while speaking at the company’s stakeholders’ meeting/consultation on Wednesday in Lagos, said poor metering was one of the challenges inherited from the defunct Power Holding Company of Nigeria.
Amoda said, “The metering plan will be rolled out in phases until all our customers have functional meters. The new meters are of the newest technical features, multi-functional and tamperproof. The metering plan has been estimated to cost the company a whopping N52bn.”
He said after the takeover on November 1, 2013, the immediate concern of the newly privatised EKEDP was how to quickly surmount the problems in the power sector, chart a new course and lay a solid foundation for a future which would guarantee a sustainable and efficient power supply with customer-friendly attitude.
“We are working assiduously to explore other sources of power supply. Presently, the only source of bulk power is from the national grid, which is grossly inadequate, inefficient and unreliable.
“We understand the plight of our customers and have therefore immediately commenced a process, which will augment the power we are currently allocated from the grid, with about 700MW through embedded IPPs and bilateral agreements with existing merchant generators,” Amoda said.
He said before the privatisation, the company’s ATC&C loss stood at 35 per cent but has now dropped below 30 per cent.
This, he said, was achieved through huge investments in the areas of network rehabilitation, reinforcement, improvement and assets upgrade.
“The company has earmarked a capital expenditure investment of $250m (about N50bn) in the next five years to deal with these issues.”