Financial Energy Review
The Eko Electricity Distribution Company (EKEDC), reportedly collected a whopping N15.7 billion out of N15.8 billion billed to customers.
The figure represented a collection efficiency of 99 per cent, after the DisCo, announced that it registered the lowest aggregated technical, commercial, and collection losses (ATC&C) in its history.
The term “technical” losses refers to the loss of electricity through the distribution system due to factors like obsolete or inefficient power cables and equipment. This is electricity that never gets to the customers.
“Commercial” losses occur when consumers steal electricity, by tampering with their electricity metres to make it appear they are using less than they are. This is electricity theft.
In a letter addressed to the company’s chairman, the acting managing director and chief executive officer, Rekhiat Momoh, stated that the impressive performance showed that EKEDC’s ATC&C decreased to 10.51 per cent in March 2024 from 30.87 per cent in February.
According to Momoh, “This monumental achievement is not just about numbers. It symbolizes our team’s readiness and resolve to ensure improved performance. Looking ahead, we are using this momentum to propel us further. We will continue to challenge ourselves, push boundaries, and strive for greater heights”.
Collection losses occur when the distribution company (DisCo) is unable to fully collect payment from customers for the electricity they have used or customers may not pay their bills for various reasons.
