Managing Director and Chief Executive Officer, Eko Electricity Distribution Plc Mr. Oladele Amoda has said that the organisation is waiting for the approval of the Nigerian Electricity Regulatory Commission NERC to launch a robust metering plan which will enable it to roll out and step up installation activities over the next few years.
Mr Amoda made this known 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.
According to him,
“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.
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.”
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