The Eko Electricity Distribution Company (EKEDC) in conjunction with the Meter Asset Providers (MAP), has signed a Memorandum of Understanding (MoU) to cut down the metering gap within its distribution network. The understanding was in accordance with the new MAP regulation.
See Also: The cost of electricity in Nigeria.
The Move To Bridge The Existing Electricity Metering Gap In The Country.
The agreement requires all electricity distribution proprietors within the country to engage meter asset providers, in a move targeted at bridging the metering gap of about 4.7 million electricity consumers across the country.
Engr. Adeoye Fadeyibi, Managing Director of the Eko Electricity Distribution Company (EKEDC), while speaking at the event, described the contract as a milestone and a demonstration of the company’s solid commitment to the ongoing revolution in the electricity industry.
“As one of the first Discos in the country to key into this initiative, we are excited about the prospect that the initiative holds for the country. We are in no doubt that this is a significant effort at repositioning the Nigerian power sector which will ultimately bring about sustained economic growth and enhanced development,” Fadeyibi said.
He further stated that the new metering agenda would help to reduce impediments and bottlenecks that have up till now weakened optimum power distribution within the electricity supply industry.
He encourage the MAPs to ensure all customers within the EKEDC’s distribution network are captured under the new metering plan. He also admonished them to ensure that installations of the meters are exercised in a manner that guard against revenue loss.
Stakeholders In The Electricity Distribution Industry Laud The New Development.
Stakeholders in the industry who were present at the pact signing, lauded the new development in the sector stressing that the new plans and programme is a drive towards growth and sectoral reforms in the country.
Mr Imran Khokar, the Managing Director of Armese Power Solutions, applauded EKEDC for displaying “the highest sense of duty and uncommon professionalism throughout the pre-engagement period.”
Mr Durosola Omogbenigun of Integrated Resources Limited, on his part, appreciated the EKEDC management for a succinct and well laid-out proposal agreement that captures the terms of reference, workflow and performance benchmark.
During the assignation, the MAPs are required to ensure the supply of meters to unmetered customers within the EKEDC’s distribution network in the country.
Electricity Distribution And Small Businesses In Nigeria.
Poor electricity supply as a misery to small businesses, has weakened most economic activities in the country, which has forced companies to seek alternatives to power generation. This in turn, adds to the overhead cost. Sufficient power supply is necessary for businesses to function properly and expand.
This therefore means that higher electricity costs push business costs higher, thus, reducing business competitiveness.
Entrepreneurship is a lonely journey, let us help you get through it with our service.