The Ikeja Electricity Distribution Company (IKEDC) said it has discontinued its metering project due to the prevailing exchange rate crisis in the country.
The Acting Chief Executive Officer (CEO) of the Company, Anthony Youdeowei, told newsmen at a roundtable conference that “Metering is a huge problem. Estimated billing is here to stay for a while but we want it to be reasonable.”
Apologising over the challenges of the company in fixing the structure, he said before the takeover of the assets of the defunct Power Holding Company of Nigeria (PHCN), the new owners did not envisage the enormity of the decay of the facilities.
The company maintained that it would have no choice than to continue estimated billing regime on its customers due to the development.
“Before privatisation, many projections were made, like metering and all of that were done with good and sincere intentions, but again there is the social component to it. There were things we did not do well, and we didn’t know about some of the labour issues.
“Today we are service delivery company, unlike NEPA that was an engineering company. As at 2013 the exchange rate was about N216, 20 months later things have changed and today we are faced with the recession.”
The General Manager, Commercial of Ikeja Electric, Folake Soetan, explained that estimated billing is not illegal, stressing that the company has come up with an acceptable billing formula for non-metered customers.
According to her, the formula had been submitted to the Nigerian Electricity Regulatory Commission (NERC) which is excited with the parameter.