Political

Ikeja Electric Debt Rises To N88bn

Ikeja Electric Debt Rises To N88bn

By CHIKA IZUORA, Lagos

Ikeja Electric has said that its metering project is currently facing some challenges due to financial constraints which has prompted the management to alter original meter roll out plan.

Felix Ofulue, corporate communications manager of the power distribution company said at the moment the company’s customer debt profile has gone up to N88 billions which has further hindered efforts to strengthen infrastructure development.

Speaking at a media forum in Lagos yesterday, Ofulue, however, that management has engaged local meter vendors to pursue its pre paid meter obligation to customers. Ofulue disclosed that with the support of local meter vendors, the company has successfully metered almost all feeder and distribution transformers within its network which would help balance its estimated billing method.

“The metered transformers and feeders will help determine the regularity of power supply to customers and will help preparing bills based on accurate power supply. So far we have metered Maximum Demand Customers, MDC within the network and they are Over 5,000 of them.

Our metering project is challenged at the moment due to financial constraints and because we have to upgrade other supply infrastructure and ensure that the supply chain is not disrupted there is need to deploy scarce resources in other areas of need so that the entire system does not collapse” he explained.

He however assured that Non Maximum Demand Customers are being considered in the ongoing efforts adding that at the moment the company is stepping up efforts to complete metering exercise in Ikeja GRA. Ofulue however complained about energy theft which he said is impacting on the company’s revenue and urged customers to settle their bills to enable it boost its operations.

The post Ikeja Electric Debt Rises To N88bn appeared first on leadership.ng.

Source: Political

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