The Eko Electricity Distribution Company (EKEDC) has invested over N2bn to evacuate power from the national grid to boost its network distribution for effective supply to the consumers.
This is just as it plans to invest N42bn in five years to reinforce the operation of the company, adding that it had secured $150m for network expansion and improvement.
Oladele Amoda, managing director of the company, who disclosed this said in the last one year, the company has taken over from the defunct Power Holding Company of Nigeria (PHCN) adding that it had delivered more reliable electricity supply to both the industrial and residential customers within its network.
He stated further that over $45m had been committed into network expansion by the new board.
He said that the Company also planned a N6.79bn investment in Pre-paid metering.
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“The new investors in the Company has secured about N25bn ($150m) loan from a bank to be invested in network expansion, metering of power consumers, developmental projects and reinforcement of the network.
According to him: “In the short run, we are investing about N1.3bn on metering, while a total of N6.79bn will be invested within the next five years to promote effective billing and adequate metering. Our greatest challenges after the take-over include severe capacity limitations in most of the transmission stations to facilitate delivery of improved power supply to power consumers,” he said.
He, however, urged the government to enact legislations that would prevent vandalism, energy and cable theft so that the company can serve consumers better
The Eko boss also disclosed that the company had been holding talks with some firms to generate 400MW for the customers of the Company, but with special consideration for the industrial customers who need uninterrupted power supply and who are also prepared to pay more.
The Company, he said, has rolled out over 360,000 pre-paid electricity meters to various customers under the distribution network, with additional 240,000 customers to be added within the next three years.
“The Company is planning to meter all its customers within the next five years, and this would make the issues of estimated billing to be soon a thing of the past. The full implementation of industrial, commercial and high-end residential customers would be completed by the end of first quarter in 2015,” he said.
Amoda added that the Company had deployed several power and distribution transformers, while smart meters would mostly be deployed to prevent tempering, securing revenue and improve customer services.
He however regretted that the Company is faced with low energy supply in spite all the efforts to ensure effective customers’ satisfaction, due to incessant gas pipeline vandalism.
Energy theft through meter by-passing he said, also remained a big challenge to the Company, adding that customers should also support the Disco to curb equipment vandals.
Olusola Bello
