Richard Ginika Izuora
The Eko Electricity Distribution Company, Eko DisCo has dismissed reports that DisCos are clandestinely adjusting upward electricity tariff across board.
Reviewing the company’s 2022 performance and projections for the new year, EKEDC managing director and chief executive officer, MD/CEO, Tinuade Sanda, denied some media report claiming DisCos are embarking on tariff adjustments secretly.
According to Sanda, Eko DisCo did carry out a minor adjustment only for customers in ‘Band A and B’ who receive minimum of 20 and 16 hours daily supply of electricity in accordance with regulatory provisions.
Oriental News Nigeria, reports that the Nigerian Electricity Regulatory Commission, in its Multi-Year Tariff Order, provides a 15-year tariff path for the Nigeria Electricity Supply Industry with limited minor reviews each year.
It states that reviews are in the light of changes in a limited number of parameters such as inflation, interest rates, exchange rates and generation capacity, and major reviews every five years when all of the inputs were reviewed with the stakeholders.
Sanda, clarified that the minor adjustment which the regulation allows however, did not happen across the network strata.
In the new year, the managing director revealed the company would spend about N18 billion on capital projects which aims at improving services across its network area.
She said the company is planning to expand its engagement with Independent Power Producers, IPP for embedded generation, as well as mini-grids for improved power supply.
This she said would lead to improvement in the customer satisfaction index, while the management will deepen customer metering Intervention through Meter Asset Provider, MAP scheme and the National Mass Meter Programme, phases 1 & 2.
In addition the company is planning expanded business development initiatives to make its services more attractive to recapture customers that migrated to alternative power sources
Sanda, also said the company would endeavour to provide critical work tools to field representatives to cover the present gap still in existence.
Some key aspect of the expenditure for the year will help in opening of the Transformer and Equipment Repair Workshop, Inauguration of the EKEDP Training Institute, Recruitment of Talent (EDTP) and fencing of all Distribution Substations.
Sanda, said the company has projected to achieve Aggregate Technical and Commercial Collection, ATC&C Losses ranging between 18.92 per cent and 21.55 per cent.
The company is also targeting total annual billing and collection above N200 Billion as well as full settlement of electricity market invoices in line with NERC Minimum Remittance Order.
Other targets announced by the MD include, enhanced profitability and declaring and payment of dividend to shareholders, zero fatality and injuries, rehabilitation of all frequent tripping feeders to guarantee uninterrupted power supply, among others.