Ikeja Electric cuts losses, improves supply

Despite challenges in the power sector, Ikeja Electric Plc (IE) has recorded reduction in its Aggregate Technical, Commercial and Collection (ATC and C) losses with the introduction of e-billing system and improved sustainable power supply through its bilateral agreements.

IE's Chief Operating Officer (COO), Folake Soetan, who made this known while giving highlights of the electricity distribution company's (DisCo's) performance, also noted that IE took a bold step to improve sustainable power through the bilateral initiative.

According to her, the company had reduced her ATC and C losses from about 31.3 per cent last year to 24.5 per cent. ATC and C refers to Aggregated Technical and Commercial Loss reduction, which is the difference between the amount of electricity received by a distribution company from the Transmission Company and the amount of electricity for which it invoices its customers plus the adjusted collections loss.

Soetan said: '2019 was a phenomenal year for us at Ikeja Electric. Despite the huge challenges we thrived and flourished. We tested new waters, learnt amazing lessons and set the pace in the power industry.

We were able to reduce our ATC and C losses from 31.3 per cent to 24.5 per cent, introduced e-billing, started the experiment towards improved sustainable power through the bilateral initiative and optimised our existing systems through innovations.'

She continued: 'We are committed to providing access to affordable and reliable power supply in line with the SDG 7 as we pursue our vision of being the provider of choice where energy is consumed.

'In 2020, we will deliver exceptional service to our customers, improve the quality of power supply and partner with the key industry players to build a sustainable power sector in Nigeria. We are Ikeja Electric, We bring Energy to Live.''

According to Soetan, the company was committed to providing access to affordable and reliable power supply in line with the Sustainable Development Goals (SDGs 7) in pursuance of its vision of being the provider of choice where ever energy is consumed.

The Disco has continued to demonstrate its commitment to improved service delivery by working in line with Meter Asset Provider (MAP) Scheme to close the metering gap.

It introduced E-billing (electronic billing) system, which enables effective delivery of bills to customers via SMS, email and USSD platforms. And recently announced the IE Mobile App which allows customers to view their bills, make complaints, request connection, check supply availability and chat live.

With its customers spread across the northern part of Lagos and Ogun states, IE operates through the six Business Units located in Ikeja, Oshodi, Akowonjo, Ikorodu, Shomolu and Abule-Egba.

The largest electricity distribution company, IE came into being on November 1, 2013, following the handover of the defunct Power Holding Company of Nigeria to NEDC/KEPCO Consortium under the privatisation scheme.