Abuja Electricity Distribution Company (AEDC) on Friday said the imbalance penalty incurred by the company was N8 billion.
Ahmed Shekarau, Head, Public Relations and Media, AEDC in Abuja in statement refuted report that put the imbalance at N80 billion.
It will be recalled that the company took beyond the 11.5 per cent allocated to it from the national grid, which resulted in the penalty of N8 billion.
The company said it had the capacity to distribute 1,000 megawatts as against the less than 400 megawatts allocated to it from the national grid.
“AEDC has had to pay imbalance penalties to the tune of N8 billion, not N80 billion as reported, from November 1, 2013, when the current management took over to date,’’ the statement said quoted him as saying.
Shekarau said that the imbalance was incurred as a result of AEDC’s efforts to enhance electricity supply to its customers.
It will be recalled Abimbola Odubiyi, the Executive Director, Regulatory and Stakeholders Affairs, AEDC, said that efforts by AEDC to serve its customers better had placed huge financial burden on it.
NAN
