Ibadan Electricity Distribution Company has said it invested over N11.5bn in metering, network upgrade and rehabilitation in the last six months.
The company’s Managing Director, Mr John Donnachie, who disclosed on Friday, during a facility tour and equipment inspection in Ibadan, said the investment was aimed at improving service delivery to consumers.
Donnachie, who was represented by the Chief Operating Officer, Mr John Ayodele, said, “As part of our unwavering commitment to our mission of distributing efficient power and changing lives, we have in the past six months invested over N11.5bn in major capital projects.
The investment cuts across our franchise areas, covering Oyo, Ogun, Osun, Kwara, parts of Kogi, Niger and Ekiti states.
“These projects are major game-changers for IBEDC as a business and for our esteemed customers, as they have significantly improved our service delivery, quality and quantity of power supply.”
He said the power firm had commenced the procurement and installation of over 11,000 distribution transformer meters, costing over N4bn.
According to Donnachie, the DT meters will ensure that customers without meters are billed more accurately through the company’s energy audit, accounting functionalities, and assist in reducing technical and commercial losses.
Donnachie said, “In line with reducing the incidence of estimated billing, we have commenced our meter rollout, with the first batch of 48,470 meters of various ratings and capacities.
This includes 35,000 single-phase, 12,000 three-phase, 1,470 whole current, CT-operated and statistical meters, which cost over N3.1bn, ahead of the MAP initiative currently being finalised by NERC and the Discos.
“The continuous metering of maximum demand customers is also in place, with the deployment of 13 high voltage energy meters and delivery of 912 low voltage maximum demand meters, which cost N405m.”
He said the IBEDC had also invested extensively in the supply and installation of advanced metering infrastructure systems at over N1bn, adding, “this investment is critical to optimally implement the functionalities of DT meters.”
The IBEDC boss said, “We recently received 95 per cent of the Credit Advance Payment for Metering Implementation meters for deployment for those that paid.”