The Managing Director, Ibadan Electricity Distribution Company Plc, Mr. John Donnachie, said the company had spent a total of N4.5bn on metering and N1bn on equipment for network development.
He said the new equipment included a total of 210 11kVA panels and 14 units of 33KV circuit breakers, which would be used for some of the 122 substations within its franchise coverage area.
Donnachie stated this at a briefing in Ibadan after the tour of the Eleyele 2x15MVA 33/11KV injection substation and the display of the new panels and circuit breakers bought for network development.
“The other key element is the network development, and what we are here to do today is to share what we are trying to do in this regard. You are going to see investment of over N1bn that just arrived in order to enhance customer service through network stabilisation and network development.
Donnachie said the IBEDC had put in place a new billing system to improve customer service.
Commenting on the liquidity problem in the sector, he said, “Our collection this month was N3.5bn but we should be collecting N4.5bn. A minimum of 56 per cent of our people are not paying, either they are not paying or they are bypassing the meter. We know we need to solve the issue of estimated billing and metering, but it is not a quick fix.”
He said the cost of running the business had increased dramatically, adding, “My bill last month from the generator was N5.7bn, compared to N3bn in May. I could only charge N6bn to the customers. So, if I collected 100 per cent of everything that I billed, I will not be able to pay salaries with the money left over.