23 November 2016, Sweetcrude, Lagos — Ikeja Electric Distribution Company has metered 90 percent of Distribution transformers within its network.
Acting Chief Executive Officer of Ikeja Electric, Mr Anthony Youdeowei who stated this in Lagos explained that the exercise is to account for energy sent out by the company to metered and unmetered customers within the network.
In addition, he stated that the metering exercise which was done by the company’s Korean technical partner, KEPCO is to minimise energy theft, estimated billing, and account for proper revenue generation.
Besides metering of distribution transformers, Youdeowei said the company has done 90 percent enumeration of electricity customers which are estimated to be over 700, 000 within its network.
“Metering the trading point of power distribution and counting electricity consumers within out network have advanced, we have made progress. To enumerate our customers cost us $6 billion,” he said.
Youdeowei admitted that installation of prepaid meters is not an easy task due to current economic challenges in the country such high foreign exchange rate and recession, as a result, estimated billing will still be around with the exception that everybody is metered.
“Electricity is bought at N305 to the dollar and we sell at N199. This means electricity tariff has to increase but the government cannot increase tariff because it will be termed as too insensitive to the hardship of the people caused by the recession.
“Economically speaking, it is proper to increase tariff but realistically it cannot be increased, Youdeowei said.