BUSINESS

IBEDC Losses N1.6Bn To Capping Of Estimated Billing

 

…….Calls the regulation a disservice to the sector

…….Says consumers benefited more from estimated billing than the DisCos

The Chief Operating Officer of Ibadan Electricity Distribution Company (IBEDC) Engr. John Ayodele has revealed that the utility losses at least ₦1.6 billion monthly to the capping of estimated billing and metering issues.

Ayodele stated that the Nigeria Electricity Regulatory Commission (NERC) order on capping estimated billing was a disservice to the power sector.

The Ibadan Electricity Distribution Company (IBEDC) declared that the company was losing about N1.6 billion monthly to capping estimated billing and other issues bordering on metering, describing it as a disservice to the energy industry.

Ayodele also stated that contrary to beliefs, the DisCos were not benefitting from estimated billing.

He added that the consumers, on the other hand, benefit from estimated billing.

He also noted that IBEDC lost revenues due to consumer sharp practices of meter bypassing and failure to pay electricity bills.

“Ninety per cent of those complaining of estimated billing in the real sense of it does not want meters. They are comfortable with ₦3,000 billing we are giving them monthly because many are spending more than that amount.” Ayodele said.

“We are losing money. We are losing about ₦1.6billion for estimated billing alone. There is a lot of problem with metering. We are running at a loss. If it is not a business that is tied to service, the company would have been bankrupt by now.” he added.

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